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

Tourmaline Oil Corp. (TSE:TOU) has been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$78.42.

TOU has been the topic of a number of analyst reports. Jefferies Financial Group upped their target price on Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th. National Bankshares increased their target price on Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Canaccord Genuity Group lowered their target price on shares of Tourmaline Oil from C$75.00 to C$74.00 in a research note on Tuesday, October 22nd. Cormark raised shares of Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd. Finally, UBS Group lifted their price objective on shares of Tourmaline Oil from C$70.00 to C$73.00 in a report on Monday, December 9th.

Tourmaline Oil Stock Up 3.5 %

TSE TOU opened at C$69.16 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24. Tourmaline Oil has a 52 week low of C$53.45 and a 52 week high of C$69.50. The firm has a market capitalization of C$25.67 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 1.72 and a beta of 1.30. The company has a fifty day moving average of C$64.27 and a two-hundred day moving average of C$62.40.

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

Tourmaline Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Monday, December 16th. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.32. Tourmaline Oil’s payout ratio is 33.18%.

Insiders Place Their Bets

In other Tourmaline Oil news, Senior Officer Mike Rose purchased 2,500 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was bought at an average cost of C$62.09 per share, for a total transaction of C$155,216.50. Over the last ninety days, insiders bought 12,500 shares of company stock worth $786,318. 5.13% of the stock is owned by corporate 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.