Tourmaline Oil Corp. (TSE:TOU) Given Consensus Recommendation of “Buy” by Analysts

Tourmaline Oil Corp. (TSE:TOU) has been assigned an average recommendation of “Buy” from the twelve brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is C$78.38.

Several equities research analysts have weighed in on TOU shares. Desjardins lowered their price objective on shares of Tourmaline Oil from C$75.00 to C$74.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. UBS Group upgraded shares of Tourmaline Oil to a “hold” rating in a research report on Thursday, June 20th. Canaccord Genuity Group raised their price objective on shares of Tourmaline Oil from C$72.50 to C$73.50 and gave the company a “buy” rating in a research report on Thursday, May 2nd. CIBC raised their price objective on shares of Tourmaline Oil from C$77.50 to C$80.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. Finally, Jefferies Financial Group raised their price objective on shares of Tourmaline Oil from C$70.00 to C$75.00 and gave the company a “buy” rating in a research report on Friday, April 12th.

Tourmaline Oil Trading Down 0.1 %

Shares of TOU stock opened at C$60.37 on Tuesday. Tourmaline Oil has a 12-month low of C$53.45 and a 12-month high of C$74.21. The company has a market capitalization of C$21.23 billion, a P/E ratio of 12.10, a P/E/G ratio of 1.72 and a beta of 1.39. The firm has a 50-day moving average price of C$64.17 and a 200 day moving average price of C$62.44. The company has a quick ratio of 0.47, a current ratio of 0.89 and a debt-to-equity ratio of 9.61.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings results on Wednesday, May 1st. The company reported C$0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.37 by C($0.68). Tourmaline Oil had a net margin of 35.78% and a return on equity of 12.72%. The firm had revenue of C$1.31 billion for the quarter, compared to the consensus estimate of C$1.57 billion. Research analysts forecast that Tourmaline Oil will post 4.4043109 earnings per share for the current fiscal year.

Tourmaline Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 28th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Friday, June 14th. Tourmaline Oil’s dividend payout ratio is currently 25.65%.

Insider Buying and Selling at Tourmaline Oil

In related news, Senior Officer Mike Rose purchased 5,000 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average price of C$64.65 per share, with a total value of C$323,258.00. Over the last quarter, insiders have purchased 15,000 shares of company stock valued at $968,965. 5.41% of the stock is currently owned by corporate insiders.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.