Tourmaline Oil Corp. (TSE:TOU) Given Consensus Recommendation of "Buy" by Brokerages

Key Points

• Analyst consensus "Buy": Nine analysts give Tourmaline an average Buy rating (4 Buy, 3 Strong Buy, 2 Hold) with a 12‑month average price target of C$71.25.
• Valuation and dividend: TOU opened at C$59.83 (52‑week range C$56.72–C$70.57) with a market cap of C$23.17B and a P/E of 87.99, and it pays a quarterly C$0.50 dividend (annualized C$2.00, yield 3.3%) despite a payout ratio of 294.12%.
• Insider buying: Insiders bought 18,500 shares (~C$1.15M) in the last three months and now own 5.13% of the company.

Shares of Tourmaline Oil Corp. (TSE:TOU - Get Free Report) have been assigned an average recommendation of "Buy" from the nine research firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$71.25.

TOU has been the topic of a number of research reports. Desjardins increased their price objective on Tourmaline Oil from C$70.00 to C$74.00 and gave the company a "buy" rating in a report on Monday, March 9th. ATB Cormark Capital Markets cut 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. Scotiabank raised Tourmaline Oil to a "strong-buy" rating in a report on Wednesday, April 1st. Canadian Imperial Bank of Commerce cut their price objective on Tourmaline Oil from C$71.00 to C$66.00 in a report on Tuesday, January 13th. Finally, Jefferies Financial Group cut their price objective on Tourmaline Oil from C$72.00 to C$70.00 in a report on Tuesday, January 20th.

Tourmaline Oil Price Performance

Shares of TOU stock opened at C$59.83 on Monday. Tourmaline Oil has a fifty-two week low of C$56.72 and a fifty-two week high of C$70.57. The firm has a market capitalization of C$23.17 billion, a price-to-earnings ratio of 87.99, a PEG ratio of 1.72 and a beta of -0.10. 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's 50-day simple moving average is C$63.93 and its 200-day simple moving average is C$62.32.

Tourmaline Oil (TSE:TOU - Get Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The company reported C($1.72) earnings per share for the quarter. The business had revenue of C$1.66 billion for the quarter. Tourmaline Oil had a return on equity of 1.65% and a net margin of 5.03%. As a group, equities analysts forecast 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, March 31st. Stockholders of record on Tuesday, March 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. Tourmaline Oil's dividend payout ratio is currently 294.12%.

Insider Transactions at Tourmaline Oil

In other news, insider James William Alexander Heard acquired 1,000 shares of the business's stock in a transaction dated Friday, April 17th. The shares were acquired at an average cost of C$59.08 per share, with a total value of C$59,080.00. Following the completion of the acquisition, the insider owned 66,476 shares of the company's stock, valued at approximately C$3,927,402.08. This trade represents a 1.53% increase in their ownership of the stock. Also, insider Mike Rose acquired 10,000 shares of the business's stock in a transaction dated Monday, February 2nd. The stock was purchased at an average cost of C$62.21 per share, for a total transaction of C$622,100.00. Following the completion of the acquisition, the insider directly owned 8,042,678 shares of the company's stock, valued at approximately C$500,334,998.38. This trade represents a 0.12% increase in their position. Insiders bought 18,500 shares of company stock worth $1,149,680 over the last three months. Corporate insiders own 5.13% of the company's stock.

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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