Shares of Tourmaline Oil Corp. (TSE:TOU – Get Free Report) have been given an average recommendation of “Moderate Buy” by the eleven analysts that are presently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, four have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$71.00.
TOU has been the topic of several recent analyst reports. BMO Capital Markets downgraded shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and boosted their target price for the company from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Canaccord Genuity Group lowered shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price target on the stock. in a research report on Thursday, May 7th.
Read Our Latest Analysis on Tourmaline Oil
Tourmaline Oil Price Performance
Tourmaline Oil (TSE:TOU – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share for the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%.The firm had revenue of C$1.78 billion for the quarter. On average, sell-side analysts forecast that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.
Tourmaline Oil Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a $0.50 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. Tourmaline Oil’s payout ratio is 110.50%.
Insider Buying and Selling
In related news, insider Earl Henry Mckinnon sold 4,700 shares of the firm’s stock in a transaction on Friday, July 3rd. The stock was sold at an average price of C$60.35, for a total transaction of C$283,645.00. Following the completion of the sale, the insider directly owned 132,280 shares of the company’s stock, valued at C$7,983,098. This trade represents a 3.43% decrease in their position. Also, insider Mike Rose purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average cost of C$63.96 per share, with a total value of C$319,800.00. Following the completion of the acquisition, the insider directly owned 8,095,178 shares in the company, valued at approximately C$517,767,584.88. This represents a 0.06% increase in their ownership of the stock. Insiders bought 44,266 shares of company stock valued at $2,760,824 in the last quarter. 5.13% of the stock is currently owned by corporate insiders.
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.
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