Tourmaline Oil Corp. (TSE:TOU) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Tourmaline Oil has a consensus “Moderate Buy” rating from 10 analysts: five rate it a hold, two a buy, and three a strong buy. The average one-year price target is C$70.36 versus a recent price of C$62.50.
• The company reported quarterly EPS of C$0.47 on revenue of C$1.50 billion, with a 6.50% net margin and 2.37% return on equity.
• Tourmaline declared a quarterly dividend of $0.50 per share, equivalent to a 3.2% annual yield; its reported payout ratio is 217.39%.

Shares of Tourmaline Oil Corp. (TSE:TOU - Get Free Report) have been given an average rating of "Moderate Buy" by the ten ratings firms that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and three have given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is C$70.36.

TOU has been the topic of several recent analyst reports. Scotiabank upgraded shares of Tourmaline Oil to a "strong-buy" rating in a report on Friday, June 26th. Desjardins set a C$68.00 price objective on shares of Tourmaline Oil and gave the stock a "hold" rating in a report on Friday, July 17th. BMO Capital Markets cut shares of Tourmaline Oil from an "outperform" rating to a "market perform" rating and raised their target price for the stock from C$67.00 to C$70.00 in a research report on Thursday, May 7th. TD lifted their target price on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the company a "hold" rating in a research note on Wednesday, July 22nd. Finally, Canaccord Genuity Group cut 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.

Tourmaline Oil Stock Performance

Tourmaline Oil stock opened at C$62.50 on Monday. Tourmaline Oil has a fifty-two week low of C$57.61 and a fifty-two week high of C$70.57. The company has a debt-to-equity ratio of 8.24, a quick ratio of 0.47 and a current ratio of 0.72. The stock has a market cap of C$24.29 billion, a P/E ratio of 67.93, a price-to-earnings-growth ratio of 1.72 and a beta of -0.29. The firm's fifty day moving average price is C$61.27 and its 200-day moving average price is C$63.11.

Tourmaline Oil (TSE:TOU - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported C$0.47 earnings per share (EPS) for the quarter. The company had revenue of C$1.50 billion during the quarter. Tourmaline Oil had a net margin of 6.50% and a return on equity of 2.37%. On average, equities research analysts expect that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Monday, June 15th. Tourmaline Oil's payout ratio is presently 217.39%.

Insider Transactions at Tourmaline Oil

In other Tourmaline Oil news, insider Earl Henry Mckinnon sold 4,700 shares of the company's stock in a transaction that occurred 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 transaction, the insider owned 132,280 shares in the company, valued at approximately C$7,983,098. This represents a 3.43% decrease in their position. Also, Director Jill Terilee Angevine bought 766 shares of the firm's stock in a transaction dated Monday, July 6th. The stock was purchased at an average cost of C$59.00 per share, with a total value of C$45,194.00. Following the transaction, the director directly owned 71,766 shares in the company, valued at approximately C$4,234,194. This represents a 1.08% increase in their position. In the last 90 days, insiders acquired 34,266 shares of company stock valued at $2,089,974. Insiders own 5.13% of the company's stock.

About Tourmaline Oil

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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