Tourmaline Oil Corp. (TSE:TOU) Receives C$77.96 Average Target Price from Brokerages

Shares of Tourmaline Oil Corp. (TSE:TOU) have been given an average rating of “Moderate Buy” by the twelve analysts that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is C$78.42.

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

Tourmaline Oil Price Performance

TOU stock opened at C$60.71 on Friday. The company has a market cap of C$22.54 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 1.72 and a beta of 1.30. The company has a current ratio of 1.11, a quick ratio of 0.47 and a debt-to-equity ratio of 10.24. The firm has a 50 day moving average of C$63.93 and a 200-day moving average of C$62.57. Tourmaline Oil has a 12-month low of C$53.45 and a 12-month high of C$69.25.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings data 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). 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%. As a group, equities analysts expect that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The company also recently announced 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. The ex-dividend date is Monday, December 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.31%. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.32. Tourmaline Oil’s payout ratio is presently 33.18%.

Insider Buying and Selling at Tourmaline Oil

In related news, 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. Also, Director Jill Terilee Angevine bought 2,500 shares of Tourmaline Oil 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. Insiders have acquired a total of 15,000 shares of company stock valued at $935,943 over the last ninety days. Corporate 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.