Tourmaline Oil Corp. (TSE:TOU) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is moderately bullish: Ten brokerages collectively rate Tourmaline Oil “Moderate Buy,” with an average 12-month price target of C$70.36 versus the reported share price of C$59.14.
• Recent trading and financial results were mixed: The stock was down 2.8%, while the company reported quarterly EPS of C$0.47 and revenue of C$1.50 billion.
• Tourmaline maintains an income-focused shareholder strategy: It declared a C$0.50 quarterly dividend, equal to a C$2.00 annualized payout and a 3.4% yield, while insiders have purchased more shares than they sold over the past 90 days.

Shares of Tourmaline Oil Corp. (TSE:TOU - Get Free Report) have been given a consensus rating of "Moderate Buy" by the ten research firms that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is C$70.36.

TOU has been the topic of several recent analyst reports. TD increased their target price on Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a "hold" rating in a research report on Wednesday, July 22nd. Scotiabank upgraded Tourmaline Oil to a "strong-buy" rating in a report on Friday, June 26th. Jefferies Financial Group upped their price objective on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research note on Friday, July 24th. BMO Capital Markets lowered shares of Tourmaline Oil from an "outperform" rating to a "market perform" rating and increased their price objective for the stock from C$67.00 to C$70.00 in a report on Thursday, May 7th. Finally, Desjardins set a C$68.00 target price on shares of Tourmaline Oil and gave the stock a "hold" rating in a research report on Friday, July 17th.

Insider Buying and Selling

In related news, insider Mike Rose acquired 5,000 shares of the stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of C$63.96 per share, with a total value of C$319,800.00. Following the purchase, the insider directly owned 8,095,178 shares of the company's stock, valued at approximately C$517,767,584.88. This represents a 0.06% increase in their ownership of the stock. Also, insider Earl Henry Mckinnon sold 4,700 shares of the business's stock in a transaction on Friday, July 3rd. The shares were sold at an average price of C$60.35, for a total transaction of C$283,645.00. Following the sale, the insider directly owned 132,280 shares of the company's stock, valued at C$7,983,098. This represents a 3.43% decrease in their ownership of the stock. In the last ninety days, insiders have acquired 49,266 shares of company stock worth $3,072,774. 5.13% of the stock is currently owned by insiders.

Tourmaline Oil Trading Down 2.8%

Shares of Tourmaline Oil stock opened at C$59.14 on Thursday. 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 cap of C$22.98 billion, a PE ratio of 64.28, a P/E/G ratio of 1.72 and a beta of -0.29. The business's fifty day moving average is C$62.00 and its two-hundred day moving average is C$63.25. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 8.24.

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

Tourmaline Oil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.00 annualized dividend and a yield of 3.4%. Tourmaline Oil's dividend payout ratio is 217.39%.

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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