Tourmaline Oil (TSE:TOU) Upgraded to “Hold” at Cormark

Cormark upgraded shares of Tourmaline Oil (TSE:TOU) to a hold rating in a report released on Monday morning, Zacks.com reports.

Several other brokerages have also recently commented on TOU. UBS Group upgraded Tourmaline Oil to a hold rating in a report on Thursday, June 20th. Scotiabank increased their price target on shares of Tourmaline Oil from C$90.00 to C$93.00 and gave the company an outperform rating in a research note on Tuesday, August 13th. Canaccord Genuity Group upped their price objective on Tourmaline Oil from C$73.50 to C$75.00 and gave the stock a buy rating in a report on Tuesday, August 13th. Jefferies Financial Group dropped their price target on shares of Tourmaline Oil from C$75.00 to C$67.00 and set a buy rating for the company in a research note on Monday, September 16th. Finally, National Bankshares set a C$72.50 target price on shares of Tourmaline Oil and gave the stock a buy rating in a report on Tuesday. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of C$78.38.

Tourmaline Oil Price Performance

The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24. The company has a fifty day moving average of C$60.16 and a two-hundred day moving average of C$62.87. Tourmaline Oil has a 1 year low of C$53.45 and a 1 year high of C$74.21. The company has a market capitalization of C$21.22 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 1.72 and a beta of 1.31.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$0.72 EPS for the quarter, missing analysts’ consensus estimates of C$1.09 by C($0.37). The firm had revenue of C$1.31 billion during the quarter, compared to analyst estimates of C$1.37 billion. Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. Research analysts expect that Tourmaline Oil will post 6.5144766 EPS for the current fiscal year.

Tourmaline Oil Cuts Dividend

The company also recently announced a None dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a yield of 2.26%. Tourmaline Oil’s dividend payout ratio (DPR) is currently 33.18%.

Insider Activity

In other Tourmaline Oil news, Senior Officer Mike Rose purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average price of C$60.56 per share, for a total transaction of C$302,778.50. In other Tourmaline Oil news, Director Jill Terilee Angevine bought 3,000 shares of Tourmaline Oil stock in a transaction dated Friday, August 16th. The stock was bought at an average price of C$63.17 per share, with a total value of C$189,510.00. Also, Senior Officer Mike Rose purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average price of C$60.56 per share, for a total transaction of C$302,778.50. Insiders acquired a total of 29,300 shares of company stock valued at $1,765,756 over the last three months. Insiders own 5.41% of the company’s stock.

About Tourmaline Oil

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.