Tourmaline Oil Corp. (TSE:TOU) Receives C$78.42 Average Price Target from Analysts

Shares of Tourmaline Oil Corp. (TSE:TOU) have been given an average rating of “Moderate Buy” by the twelve research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is C$78.42.

A number of brokerages have recently issued reports on TOU. Canaccord Genuity Group reduced their price objective on shares of Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. UBS Group boosted their price objective on Tourmaline Oil from C$70.00 to C$73.00 in a report on Monday, December 9th. National Bankshares raised their target price 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. TD Securities decreased their price target on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group raised their price objective on Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th.

Insider Buying and Selling

In other news, Senior Officer Mike Rose purchased 2,500 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was bought at an average price of C$62.27 per share, for a total transaction of C$155,664.50. Over the last 90 days, insiders purchased 12,500 shares of company stock worth $797,388. Insiders own 5.13% of the company’s stock.

Tourmaline Oil Stock Performance

Shares of Tourmaline Oil stock opened at C$68.94 on Tuesday. The business has a 50-day simple moving average of C$64.50 and a 200 day simple moving average of C$62.53. The firm has a market capitalization of C$25.59 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.11 and a quick ratio of 0.47. Tourmaline Oil has a one year low of C$53.45 and a one year high of C$69.70.

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

Tourmaline Oil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were given a dividend of $0.35 per share. The ex-dividend date was Monday, December 16th. This represents a $1.40 annualized dividend and a yield of 2.03%. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.32. Tourmaline Oil’s dividend payout ratio is presently 33.18%.

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.