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

Shares of Tourmaline Oil Corp. (TSE:TOU) have received an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$78.21.

TOU has been the topic of several recent research reports. UBS Group upped their price objective on Tourmaline Oil from C$70.00 to C$73.00 in a research report on Monday, December 9th. Canaccord Genuity Group dropped their price target on shares of Tourmaline Oil from C$75.00 to C$74.00 in a research report on Tuesday, October 22nd. National Bankshares set a C$72.50 price objective on shares of Tourmaline Oil and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Cormark upgraded Tourmaline Oil to a “hold” rating in a research report on Monday, September 23rd. Finally, Jefferies Financial Group upped their price target on Tourmaline Oil from C$73.00 to C$76.00 in a report on Monday.

Tourmaline Oil Trading Down 0.7 %

Shares of Tourmaline Oil stock opened at C$61.52 on Friday. Tourmaline Oil has a 1 year low of C$53.45 and a 1 year high of C$69.25. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.11 and a quick ratio of 0.47. The stock has a market cap of C$22.84 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The firm has a fifty day moving average price of C$64.18 and a 200 day moving average price of C$62.63.

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

Tourmaline Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.32. Tourmaline Oil’s payout ratio is currently 33.18%.

Insider Activity at Tourmaline Oil

In other news, Senior Officer William Scott Kirker sold 66,000 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of C$66.37, for a total value of C$4,380,274.80. Also, Director Jill Terilee Angevine purchased 2,500 shares of the stock in a transaction dated Wednesday, September 25th. The shares were acquired at an average price of C$59.85 per share, with a total value of C$149,625.00. Over the last quarter, insiders bought 17,500 shares of company stock valued at $1,081,948. 5.13% of the stock is owned by company insiders.

About Tourmaline Oil

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.