Tourmaline Oil Corp. (TSE:TOU) Given Average Rating of “Moderate Buy” by Analysts

Tourmaline Oil Corp. (TSE:TOU) has earned an average recommendation of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and three have given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$71.00.

TOU has been the topic of several research analyst reports. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research note on Wednesday, April 1st. Desjardins lifted their price objective on Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Royal Bank Of Canada reduced their price objective on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. BMO Capital Markets lowered Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Finally, Canaccord Genuity Group lowered Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective on the stock. in a research note on Thursday, May 7th.

Tourmaline Oil Stock Up 0.5%

TOU opened at C$64.10 on Friday. The company has a debt-to-equity ratio of 7.14, a current ratio of 0.88 and a quick ratio of 0.47. The stock has a market capitalization of C$24.89 billion, a price-to-earnings ratio of 35.41, a price-to-earnings-growth ratio of 1.72 and a beta of -0.12. The business has a 50-day moving average of C$64.79 and a two-hundred day moving average of C$63.12. Tourmaline Oil has a 12 month low of C$56.72 and a 12 month high of C$70.57.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$1.69 earnings per share for the quarter. The business had revenue of C$1.78 billion for the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%. On average, research analysts expect that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, March 16th. Tourmaline Oil’s payout ratio is currently 110.50%.

Insider Activity

In other news, insider James William Alexander Heard acquired 1,000 shares of Tourmaline Oil stock in a transaction dated Friday, April 17th. The shares were acquired at an average cost of C$59.08 per share, with a total value of C$59,080.00. Following the purchase, the insider directly owned 66,476 shares of the company’s stock, valued at approximately C$3,927,402.08. This trade represents a 1.53% increase in their position. Also, insider Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of C$65.20 per share, for a total transaction of C$326,000.00. Following the completion of the purchase, the insider directly owned 8,085,178 shares in the company, valued at approximately C$527,153,605.60. This represents a 0.06% increase in their ownership of the stock. Insiders bought a total of 23,500 shares of company stock worth $1,500,780 over the last ninety days. Corporate insiders own 5.13% of the company’s stock.

Tourmaline Oil Company Profile

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.