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

Key Points

• Analysts give Tourmaline an average recommendation of Buy from nine covering firms (2 hold, 5 buy, 2 strong buy) with a 1‑year consensus price target of C$71.22.
• The stock trades near C$63.80 with a market cap of C$24.7B and a high valuation (P/E ~93.8); the company reported quarterly EPS of C($1.72) on C$1.66B revenue while sell‑side analysts forecast ~5.68 EPS for the current fiscal year.
• Tourmaline pays a quarterly dividend of C$0.50 (annualized C$2.00, yield ~3.1%) despite a payout ratio of ~294.12%, and insiders purchased shares recently (insiders own about 5.13% of the stock).

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) has been assigned an average recommendation of "Buy" from the nine analysts that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is C$71.22.

TOU has been the topic of several research reports. Scotiabank reduced their target price on Tourmaline Oil from C$80.00 to C$75.00 and set an "outperform" rating on the stock in a report on Wednesday, January 21st. Raymond James Financial increased their price target on Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. Jefferies Financial Group cut their price target on Tourmaline Oil from C$72.00 to C$70.00 in a report on Tuesday, January 20th. Royal Bank Of Canada reduced their price objective on Tourmaline Oil from C$76.00 to C$72.00 and set an "outperform" rating on the stock in a research note on Friday, March 6th. Finally, ATB Cormark Capital Markets decreased their price objective on Tourmaline Oil from C$74.00 to C$73.00 and set an "outperform" rating on the stock in a report on Friday, March 6th.

Tourmaline Oil Stock Performance

TOU opened at C$63.80 on Thursday. The company has a debt-to-equity ratio of 12.25, a quick ratio of 0.47 and a current ratio of 0.83. The stock has a market capitalization of C$24.70 billion, a price-to-earnings ratio of 93.82, a PEG ratio of 1.72 and a beta of 0.00. The company has a fifty day moving average of C$64.22 and a 200 day moving average of C$62.34. Tourmaline Oil has a fifty-two week low of C$55.40 and a fifty-two week high of C$70.73.

Tourmaline Oil (TSE:TOU - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The company reported C($1.72) EPS for the quarter. Tourmaline Oil had a return on equity of 1.65% and a net margin of 5.03%.The company had revenue of C$1.66 billion during the quarter. As a group, sell-side analysts forecast that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.1%. The ex-dividend date was Monday, March 16th. Tourmaline Oil's payout ratio is currently 294.12%.

Insider Transactions at Tourmaline Oil

In other Tourmaline Oil news, insider Mike Rose acquired 2,500 shares of the stock in a transaction on Wednesday, March 25th. The stock was acquired at an average price of C$68.50 per share, for a total transaction of C$171,250.00. Following the completion of the transaction, the insider directly owned 8,060,178 shares of the company's stock, valued at C$552,122,193. This trade represents a 0.03% increase in their ownership of the stock. Insiders have acquired a total of 15,000 shares of company stock worth $940,150 over the last quarter. 5.13% of the stock is owned by corporate insiders.

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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