Tourmaline Oil Corp. (TSE:TOU) Receives C$78.38 Average Price Target from Analysts

Shares of Tourmaline Oil Corp. (TSE:TOU) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is C$78.38.

Several research analysts have weighed in on the company. Cormark raised Tourmaline Oil to a “hold” rating in a research report on Monday, September 23rd. Jefferies Financial Group dropped their price target on shares of Tourmaline Oil from C$75.00 to C$67.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Canaccord Genuity Group lifted their price objective on shares of Tourmaline Oil from C$73.50 to C$75.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Scotiabank boosted their price objective on shares of Tourmaline Oil from C$90.00 to C$93.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Finally, National Bankshares set a C$72.50 target price on shares of Tourmaline Oil and gave the company a “buy” rating in a research note on Tuesday, September 24th.

Insider Buying and Selling at Tourmaline Oil

In other Tourmaline Oil news, Director Jill Terilee Angevine acquired 1,300 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of C$61.29 per share, for a total transaction of C$79,677.00. In other news, Senior Officer Mike Rose purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was bought at an average price of C$61.59 per share, with a total value of C$307,945.00. Also, Director Jill Terilee Angevine acquired 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of C$61.29 per share, for a total transaction of C$79,677.00. Insiders have bought a total of 31,800 shares of company stock valued at $1,915,381 in the last ninety days. 5.41% of the stock is currently owned by corporate insiders.

Tourmaline Oil Price Performance

TSE TOU opened at C$65.00 on Friday. The firm’s 50 day moving average is C$60.26 and its 200-day moving average is C$62.89. The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24. The company has a market capitalization of C$24.13 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. Tourmaline Oil has a 12-month low of C$53.45 and a 12-month high of C$74.21.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.09 by C($0.37). Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. The business had revenue of C$1.31 billion during the quarter, compared to analyst estimates of C$1.37 billion. Equities research analysts anticipate that Tourmaline Oil will post 6.68037 earnings per share for the current fiscal year.

Tourmaline Oil Cuts Dividend

The company also recently announced a None dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 27th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, September 13th. This represents a dividend yield of 2.26%. Tourmaline Oil’s dividend payout ratio (DPR) is currently 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.