Tourmaline Oil Corp (TSE:TOU) has earned a consensus recommendation of “Buy” from the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is C$20.13.
A number of research firms have recently weighed in on TOU. TD Securities raised Tourmaline Oil from a “buy” rating to an “action list buy” rating and set a C$24.00 price objective on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada cut their price objective on Tourmaline Oil from C$24.00 to C$18.00 in a research report on Friday, October 18th. CIBC cut their price objective on Tourmaline Oil from C$25.00 to C$20.00 in a research report on Tuesday, October 15th. National Bank Financial lowered their target price on shares of Tourmaline Oil from C$23.50 to C$22.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Finally, Scotiabank lowered their target price on shares of Tourmaline Oil from C$23.00 to C$21.00 in a research note on Tuesday.
In other news, Senior Officer Mike Rose bought 2,500 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was purchased at an average price of C$11.51 per share, for a total transaction of C$28,775.00. Following the completion of the purchase, the insider now owns 10,549,330 shares in the company, valued at approximately C$121,422,788.30. In the last quarter, insiders have purchased 40,000 shares of company stock valued at $521,813.
Tourmaline Oil stock opened at C$15.25 on Friday. Tourmaline Oil has a twelve month low of C$10.45 and a twelve month high of C$22.62. The stock’s fifty day simple moving average is C$14.44 and its 200-day simple moving average is C$13.93. The company has a current ratio of 0.60, a quick ratio of 0.52 and a debt-to-equity ratio of 22.89. The firm has a market capitalization of $4.24 billion and a P/E ratio of 9.25.
Tourmaline Oil (TSE:TOU) last posted its quarterly earnings data on Wednesday, November 6th. The company reported C$0.06 earnings per share for the quarter. The company had revenue of C$462.28 million for the quarter. Sell-side analysts predict that Tourmaline Oil will post 0.77 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.12 per share. The ex-dividend date was Friday, December 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.15%. Tourmaline Oil’s payout ratio is currently 26.68%.
About Tourmaline Oil
Tourmaline Oil Corp., together with its subsidiaries, engages in the acquisition, exploration, development, and production of oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, NEBC Montney, and the Peace River High Triassic oil complex.
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