Tourmaline Oil Corp. (TSE:TOU) Receives Consensus Rating of “Moderate Buy” from Brokerages

Tourmaline Oil Corp. (TSE:TOU) has received a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$78.42.

A number of analysts have recently weighed in on TOU shares. Jefferies Financial Group increased their price target on Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday. TD Securities dropped their target price on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Cormark raised shares of Tourmaline Oil to a “hold” rating in a report on Monday, September 23rd. UBS Group increased their price objective on shares of Tourmaline Oil from C$70.00 to C$73.00 in a report on Monday, December 9th. Finally, National Bankshares boosted their target price on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a research note on Thursday.

Tourmaline Oil Stock Performance

Shares of TOU opened at C$60.71 on Friday. 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 12-month low of C$53.45 and a 12-month high of C$69.25. The business’s fifty day moving average price is C$63.93 and its 200 day moving average price is C$62.57. The stock has a market capitalization of C$22.54 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30.

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

Tourmaline Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.35 per share. 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. This represents a $1.40 annualized dividend and a dividend yield of 2.31%. Tourmaline Oil’s dividend payout ratio (DPR) is currently 33.18%.

Insider Activity

In other Tourmaline Oil news, Director Jill Terilee Angevine bought 2,500 shares of Tourmaline Oil stock in a transaction dated Wednesday, September 25th. The stock was bought at an average price of C$59.85 per share, for a total transaction of C$149,625.00. Also, Senior Officer William Scott Kirker sold 66,000 shares of the stock in a transaction dated 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. Insiders purchased a total of 15,000 shares of company stock valued at $935,943 over the last three months. Insiders own 5.13% of the company’s stock.

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.