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

Tourmaline Oil Corp. (TSE:TOU) has been given a consensus rating of “Buy” by the twelve ratings firms that are covering the stock, MarketBeat.com reports. Eleven research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$78.38.

Several equities analysts recently weighed in on the stock. National Bankshares cut their price target on shares of Tourmaline Oil from C$80.00 to C$70.00 and set an “outperform” rating on the stock in a report on Wednesday, January 10th. Raymond James lowered their price target on shares of Tourmaline Oil from C$90.00 to C$85.00 and set a “strong-buy” rating on the stock in a report on Friday, January 19th. Desjardins reduced their price objective on Tourmaline Oil from C$75.00 to C$74.00 and set a “buy” rating for the company in a research note on Tuesday, April 23rd. CIBC upped their target price on Tourmaline Oil from C$77.50 to C$80.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. Finally, BMO Capital Markets dropped their target price on Tourmaline Oil from C$78.00 to C$75.00 in a report on Thursday, March 28th.

Insider Buying and Selling

In other news, Senior Officer Mike Rose bought 5,000 shares of Tourmaline Oil stock in a transaction on Friday, March 8th. The stock was acquired at an average price of C$62.25 per share, with a total value of C$311,259.00. In the last three months, insiders have bought 12,630 shares of company stock worth $790,110. Insiders own 5.19% of the company’s stock.

Tourmaline Oil Trading Up 3.3 %

TSE:TOU opened at C$66.91 on Thursday. The company has a market capitalization of C$23.53 billion, a P/E ratio of 13.41, a PEG ratio of 1.72 and a beta of 1.41. The company has a current ratio of 0.89, a quick ratio of 0.47 and a debt-to-equity ratio of 9.61. Tourmaline Oil has a 12 month low of C$53.45 and a 12 month high of C$74.21. The firm has a fifty day simple moving average of C$63.61 and a 200-day simple moving average of C$62.84.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 earnings per share for the quarter, beating the consensus estimate of C$1.41 by C$0.59. Tourmaline Oil had a return on equity of 12.72% and a net margin of 35.78%. The business had revenue of C$1.66 billion for the quarter, compared to the consensus estimate of C$1.49 billion. On average, equities research analysts anticipate that Tourmaline Oil will post 4.7492669 earnings per share for the current year.

Tourmaline Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.91%. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, May 8th. Tourmaline Oil’s dividend payout ratio (DPR) is presently 25.65%.

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.