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

Tourmaline Oil Corp. (TSE:TOU) has been assigned an average recommendation of “Buy” from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is C$72.75.

A number of research firms recently issued reports on TOU. Capital One Financial raised Tourmaline Oil to a “strong-buy” rating in a report on Monday, October 27th. CIBC dropped their target price on Tourmaline Oil from C$74.00 to C$71.00 in a report on Wednesday, October 15th. TD Securities downgraded Tourmaline Oil from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$73.00 to C$68.00 in a report on Tuesday, September 30th. The Goldman Sachs Group raised shares of Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 13th. Finally, Desjardins upgraded shares of Tourmaline Oil from a “hold” rating to a “buy” rating and set a C$68.00 target price for the company in a research note on Monday, November 24th.

Insider Activity

In related news, insider Mike Rose purchased 10,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was acquired at an average price of C$59.83 per share, for a total transaction of C$598,300.00. Following the acquisition, the insider directly owned 8,197,742 shares of the company’s stock, valued at C$490,470,903.86. This trade represents a 0.12% increase in their position. 5.13% of the stock is owned by corporate insiders.

Tourmaline Oil Price Performance

TOU stock opened at C$61.53 on Tuesday. The business has a 50 day moving average price of C$61.88 and a 200 day moving average price of C$61.32. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. The stock has a market cap of C$23.81 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 1.72 and a beta of 0.23. Tourmaline Oil has a fifty-two week low of C$55.40 and a fifty-two week high of C$70.83.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings results on Wednesday, November 5th. The company reported C$0.49 earnings per share for the quarter. Tourmaline Oil had a net margin of 28.53% and a return on equity of 11.08%. The firm had revenue of C$1.40 billion during the quarter. Equities research analysts anticipate that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, December 15th. Tourmaline Oil’s payout ratio is presently 52.86%.

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.