Brokerages Set Tourmaline Oil Corp. (TSE:TOU) Target Price at C$70.78

Shares of Tourmaline Oil Corp. (TSE:TOU) have received an average rating of “Buy” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$71.22.

A number of research firms recently commented on TOU. 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 report on Monday. Jefferies Financial Group reduced their target price on Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th. Royal Bank Of Canada decreased their price target on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. ATB Cormark Capital Markets lowered their price target on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a report on Friday, March 6th. Finally, Canadian Imperial Bank of Commerce cut their price objective on Tourmaline Oil from C$71.00 to C$66.00 in a research report on Tuesday, January 13th.

Insider Buying and Selling at Tourmaline Oil

In related news, insider Mike Rose purchased 10,000 shares of Tourmaline Oil stock in a transaction dated Monday, February 2nd. The shares were acquired at an average cost of C$62.21 per share, with a total value of C$622,100.00. Following the purchase, 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. 5.13% of the stock is currently owned by corporate insiders.

Tourmaline Oil Price Performance

Shares of TOU stock opened at C$66.65 on Friday. The company has a debt-to-equity ratio of 12.25, a current ratio of 0.83 and a quick ratio of 0.47. The company has a market capitalization of C$25.81 billion, a PE ratio of 98.01, a price-to-earnings-growth ratio of 1.72 and a beta of 0.00. The firm’s 50-day moving average is C$61.97 and its two-hundred day moving average is C$61.41. Tourmaline Oil has a 12 month low of C$55.40 and a 12 month high of C$70.73.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings results on Wednesday, March 4th. The company reported C($1.72) earnings per share for the quarter. The firm had revenue of C$1.66 billion during the quarter. Tourmaline Oil had a net margin of 5.03% and a return on equity of 1.65%. Analysts predict that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Monday, March 16th. Tourmaline Oil’s dividend payout ratio (DPR) is 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.