Analysts Set Tourmaline Oil Corp. (TSE:TOU) Price Target at C$78.42

Tourmaline Oil Corp. (TSE:TOU) has been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$78.42.

Several equities research analysts have weighed in on the company. Canaccord Genuity Group cut their target price on Tourmaline Oil from C$75.00 to C$74.00 in a research note on Tuesday, October 22nd. TD Securities dropped their price objective on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. UBS Group raised their price objective on Tourmaline Oil from C$70.00 to C$73.00 in a research note on Monday, December 9th. Jefferies Financial Group increased their target price on shares of Tourmaline Oil from C$73.00 to C$76.00 in a report on Monday, December 16th. Finally, National Bankshares lifted their price target on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a report on Thursday, December 19th.

Tourmaline Oil Stock Performance

TOU opened at C$68.94 on Tuesday. The firm has a market cap of C$25.59 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The business’s fifty day moving average is C$64.50 and its 200-day moving average is C$62.53. Tourmaline Oil has a 52-week low of C$53.45 and a 52-week high of C$69.70. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.47 and a current ratio of 1.11.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings data on Wednesday, November 6th. The company reported C$1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.26 by C($0.26). Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. The firm had revenue of C$1.47 billion for the quarter, compared to analyst estimates of C$1.63 billion. Sell-side analysts expect that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.03%. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, December 16th. Tourmaline Oil’s dividend payout ratio is presently 33.18%.

Insiders Place Their Bets

In other news, Senior Officer Mike Rose bought 2,500 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was acquired at an average price of C$62.09 per share, with a total value of C$155,216.50. In the last three months, insiders have purchased 12,500 shares of company stock valued at $797,388. 5.13% of the stock is currently owned by company insiders.

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.