Tourmaline Oil Corp. (TSE:TOU) Receives C$78.08 Consensus Price Target from Brokerages

Tourmaline Oil Corp. (TSE:TOU) has been assigned an average rating of “Buy” from the twelve research firms that are presently covering the stock, MarketBeat reports. Eleven analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is C$78.38.

TOU has been the topic of a number of analyst reports. TD Securities reduced their price target on Tourmaline Oil from C$75.00 to C$72.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. Jefferies Financial Group boosted their price target on Tourmaline Oil from C$70.00 to C$75.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Scotiabank reduced their price objective on shares of Tourmaline Oil from C$100.00 to C$90.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 16th. National Bankshares cut their price target on shares of Tourmaline Oil from C$80.00 to C$70.00 and set an “outperform” rating for the company in a report on Wednesday, January 10th. Finally, ATB Capital reduced their price target on shares of Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 20th.

Tourmaline Oil Trading Up 3.3 %

Shares of Tourmaline Oil stock opened at C$66.91 on Thursday. The company has a debt-to-equity ratio of 9.61, a quick ratio of 0.47 and a current ratio of 0.89. The firm has a 50-day moving average of C$63.61 and a 200-day moving average of C$62.84. Tourmaline Oil has a 52-week low of C$53.45 and a 52-week high of C$74.21. The stock has a market cap of C$23.53 billion, a PE ratio of 13.41, a PEG ratio of 1.72 and a beta of 1.41.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings data on Wednesday, March 6th. The company reported C$2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.41 by C$0.59. Tourmaline Oil had a net margin of 35.78% and a return on equity of 12.72%. The firm had revenue of C$1.66 billion during the quarter, compared to the consensus estimate of C$1.49 billion. As a group, sell-side analysts forecast that Tourmaline Oil will post 4.7492669 EPS for the current year.

Tourmaline Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.32 per share. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Wednesday, May 8th. Tourmaline Oil’s dividend payout ratio (DPR) is currently 25.65%.

Insider Activity

In other news, Senior Officer Mike Rose acquired 5,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of C$64.65 per share, for a total transaction of C$323,258.00. Insiders acquired a total of 12,630 shares of company stock valued at $790,110 over the last three months. Corporate insiders own 5.19% 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.