FY2023 EPS Estimates for Tourmaline Oil Corp. Lifted by Analyst (TSE:TOU)

Tourmaline Oil Corp. (TSE:TOU – Get Rating) – Analysts at Stifel Firstegy upped their FY2023 earnings estimates for Tourmaline Oil in a report released on Thursday, June 16th. Stifel Firstegy analyst R. Fitzmartyn now expects that the company will earn $13.04 per share for the year, up from their prior forecast of $12.92. The consensus estimate for Tourmaline Oil’s current full-year earnings is $9.37 per share.

Tourmaline Oil (TSE:TOU – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported C$0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$2.01 by C($1.24). The business had revenue of C$1.10 billion for the quarter.

Several other research analysts have also issued reports on TOU. CIBC increased their price target on shares of Tourmaline Oil from C$65.00 to C$75.00 in a research report on Thursday, April 14th. Cormark upped their price objective on shares of Tourmaline Oil from C$70.00 to C$85.00 and gave the stock a “buy” rating in a research note on Monday, April 18th. Raymond James increased their price target on shares of Tourmaline Oil from C$80.00 to C$85.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 5th. National Bankshares decreased their price objective on Tourmaline Oil from C$75.00 to C$62.50 in a research note on Thursday, April 14th. Finally, Scotiabank upped their price objective on Tourmaline Oil from C$77.00 to C$87.00 in a report on Tuesday, March 8th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$67.46.

Shares of TOU opened at C$67.50 on Monday. The company has a 50-day simple moving average of C$70.48 and a 200-day simple moving average of C$55.42. The firm has a market capitalization of C$22.60 billion and a P/E ratio of 10.81. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.49 and a current ratio of 0.51. Tourmaline Oil has a 52 week low of C$29.25 and a 52 week high of C$80.66.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 30th will be given a $0.225 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.20. This represents a $0.90 dividend on an annualized basis and a yield of 1.33%. Tourmaline Oil’s dividend payout ratio (DPR) is currently 11.37%.

In related news, Senior Officer Mike Rose bought 5,000 shares of the company’s stock in a transaction dated Friday, June 17th. The shares were acquired at an average price of C$67.55 per share, for a total transaction of C$337,729.00. Following the completion of the transaction, the insider now directly owns 8,779,973 shares in the company, valued at C$593,050,300.26. Also, Senior Officer Drew E. Tumbach sold 11,479 shares of the business’s stock in a transaction dated Friday, April 8th. The stock was sold at an average price of C$60.05, for a total transaction of C$689,313.95. Following the transaction, the insider now owns 773,482 shares in the company, valued at C$46,447,594.10. Over the last 90 days, insiders purchased 25,342 shares of company stock valued at $1,785,091.

Tourmaline Oil Company Profile (Get Rating)

Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. The company was incorporated in 2008 and is headquartered in Calgary, Canada.

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