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

Tourmaline Oil Corp. (TSE:TOU) has earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$77.86.

Several analysts have recently weighed in on TOU shares. Scotiabank boosted their price objective on shares of Tourmaline Oil from C$90.00 to C$93.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Desjardins upped their price objective on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Canaccord Genuity Group cut their target price on Tourmaline Oil from C$75.00 to C$74.00 in a research report on Tuesday, October 22nd. Jefferies Financial Group decreased their target price on Tourmaline Oil from C$75.00 to C$67.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Finally, Cormark raised Tourmaline Oil to a “hold” rating in a research report on Monday, September 23rd.

Tourmaline Oil Stock Up 2.1 %

Tourmaline Oil stock opened at C$65.78 on Thursday. The stock has a market cap of C$24.42 billion, a PE ratio of 15.59, a P/E/G ratio of 1.72 and a beta of 1.30. 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’s fifty day moving average is C$61.91 and its two-hundred day moving average is C$63.16. Tourmaline Oil has a 1-year low of C$53.45 and a 1-year high of C$74.21.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, July 31st. The company reported C$0.72 earnings per share for the quarter, missing the consensus estimate of C$1.09 by C($0.37). The business had revenue of C$1.31 billion for the quarter, compared to analysts’ expectations of C$1.37 billion. Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. On average, sell-side analysts expect that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Cuts Dividend

The company also recently disclosed a None dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.50 per share. The ex-dividend date was Friday, September 13th. This represents a yield of 2.26%. Tourmaline Oil’s payout ratio is currently 33.18%.

Insider Transactions at Tourmaline Oil

In other news, Senior Officer Mike Rose acquired 2,500 shares of Tourmaline Oil stock in a transaction that occurred on Tuesday, October 15th. The stock was purchased at an average price of C$63.32 per share, for a total transaction of C$158,310.00. In related news, Director Jill Terilee Angevine acquired 1,300 shares of Tourmaline Oil stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of C$61.29 per share, for a total transaction of C$79,677.00. Also, Senior Officer Mike Rose bought 2,500 shares of the stock in a transaction on Tuesday, October 15th. The shares were bought at an average price of C$63.32 per share, for a total transaction of C$158,310.00. In the last quarter, insiders bought 36,800 shares of company stock worth $2,233,566. Company insiders own 5.13% of the company’s stock.

Tourmaline Oil Company Profile

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.