Tourmaline Oil Corp. (TSE:TOU) Receives C$71.22 Average PT from Brokerages
by Kim Johansen · The Markets DailyShares of Tourmaline Oil Corp. (TSE:TOU – Get Free Report) have earned a consensus rating of “Buy” from the nine research firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$71.22.
A number of research firms recently commented on TOU. ATB Cormark Capital Markets reduced their price objective on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a research report on Friday, March 6th. Raymond James Financial upped their price objective on Tourmaline Oil from C$69.00 to C$72.00 in a research report on Thursday, March 5th. Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a research report on Wednesday, April 1st. Desjardins upped their price objective on Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Finally, Jefferies Financial Group reduced their price objective on Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th.
Get Our Latest Stock Report on Tourmaline Oil
Insiders Place Their Bets
In other Tourmaline Oil news, insider Mike Rose purchased 10,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were acquired at an average cost of C$62.21 per share, for a total transaction of C$622,100.00. Following the completion of the transaction, the insider owned 8,042,678 shares of the company’s stock, valued at approximately C$500,334,998.38. The trade was a 0.12% increase in their ownership of the stock. Insiders have purchased 15,000 shares of company stock valued at $940,150 in the last 90 days. 5.13% of the stock is currently owned by company insiders.
Tourmaline Oil Stock Performance
Shares of TOU stock opened at C$63.87 on Thursday. The company has a 50 day moving average price of C$64.34 and a 200-day moving average price of C$62.41. Tourmaline Oil has a 52 week low of C$55.40 and a 52 week high of C$70.57. The firm has a market capitalization of C$24.73 billion, a PE ratio of 93.93, a P/E/G ratio of 1.72 and a beta of -0.10. The company has a quick ratio of 0.47, a current ratio of 0.83 and a debt-to-equity ratio of 12.25.
Tourmaline Oil (TSE:TOU – Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The company reported C($1.72) EPS for the quarter. The company had revenue of C$1.66 billion during the quarter. Tourmaline Oil had a return on equity of 1.65% and a net margin of 5.03%. As a group, equities research analysts expect that Tourmaline Oil will post 5.6809091 earnings per share for the current year.
Tourmaline Oil Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given a $0.50 dividend. The ex-dividend date was Monday, March 16th. This represents a $2.00 annualized dividend and a yield of 3.1%. Tourmaline Oil’s dividend payout ratio (DPR) is presently 294.12%.
Tourmaline Oil Company Profile
Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.