Brokerages Set Tourmaline Oil Corp. (TSE:TOU) PT at C$78.42

Tourmaline Oil Corp. (TSE:TOU) has received an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is C$78.42.

Several research firms have recently issued reports on TOU. Cormark raised Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd. UBS Group upped their price target on shares of Tourmaline Oil from C$70.00 to C$73.00 in a research report on Monday, December 9th. Canaccord Genuity Group reduced their price objective on shares of Tourmaline Oil from C$75.00 to C$74.00 in a research note on Tuesday, October 22nd. National Bankshares increased their price objective on Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, TD Securities reduced their price target on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd.

Tourmaline Oil Price Performance

Shares of TSE:TOU opened at C$68.54 on Tuesday. Tourmaline Oil has a one year low of C$53.45 and a one year high of C$70.65. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.11 and a quick ratio of 0.47. The company has a market cap of C$25.44 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 1.72 and a beta of 1.30. The firm has a 50 day simple moving average of C$64.60 and a 200 day simple moving average of C$62.56.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings data on Wednesday, November 6th. The company reported C$1.00 earnings per share for the quarter, missing the consensus estimate of C$1.26 by C($0.26). Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. The firm had revenue of C$1.47 billion for the quarter, compared to analyst estimates of C$1.63 billion. Research analysts predict that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.35 per share. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, December 16th. This represents a $1.40 annualized dividend and a dividend yield of 2.04%. Tourmaline Oil’s dividend payout ratio (DPR) is 33.18%.

Insider Activity at Tourmaline Oil

In other news, Senior Officer Mike Rose bought 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was acquired at an average cost of C$68.38 per share, with a total value of C$170,945.00. Insiders have purchased 12,500 shares of company stock worth $797,388 in the last quarter. Company insiders own 5.13% of the company’s stock.

Tourmaline Oil Company Profile

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.