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

Key Points

• Analyst sentiment is positive overall: Tourmaline Oil has a consensus rating of “Moderate Buy” from 11 covering brokerages, with an average 1-year price target of C$71.00.
• Recent analyst moves were mixed: BMO Capital Markets and Canaccord Genuity both lowered their ratings, while Scotiabank upgraded the stock to a strong-buy rating.
• The company is also seeing insider buying and pays a dividend: Insiders recently purchased shares, and Tourmaline Oil declared a C$0.50 quarterly dividend, equal to an annualized yield of about 3.3%.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) has received a consensus rating of "Moderate Buy" from the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is C$71.00.

Several equities analysts have issued reports on the stock. BMO Capital Markets cut shares of Tourmaline Oil from an "outperform" rating to a "market perform" rating and upped their price target for the company from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Scotiabank upgraded shares of Tourmaline Oil to a "strong-buy" rating in a report on Friday, June 26th. Finally, Canaccord Genuity Group cut shares of Tourmaline Oil from a "buy" rating to a "hold" rating and set a C$70.00 price objective on the stock. in a research note on Thursday, May 7th.

Insider Buying and Selling

In related news, insider James William Alexander Heard acquired 1,000 shares of the stock in a transaction dated Thursday, June 18th. The stock was bought at an average cost of C$58.88 per share, for a total transaction of C$58,880.00. Following the completion of the transaction, the insider directly owned 67,476 shares of the company's stock, valued at C$3,972,986.88. The trade was a 1.50% increase in their ownership of the stock. Also, insider Mike Rose acquired 2,500 shares of the business's stock in a transaction that occurred on Friday, June 26th. The stock was bought at an average cost of C$59.84 per share, for a total transaction of C$149,600.00. Following the completion of the purchase, the insider owned 8,115,178 shares of the company's stock, valued at C$485,612,251.52. This trade represents a 0.03% increase in their ownership of the stock. In the last ninety days, insiders purchased 45,266 shares of company stock worth $2,819,904. Corporate insiders own 5.13% of the company's stock.

Tourmaline Oil Trading Down 2.6%

Shares of TSE:TOU traded down C$1.59 during midday trading on Friday, hitting C$59.71. 2,208,669 shares of the stock were exchanged, compared to its average volume of 2,865,691. The stock has a market capitalization of C$23.19 billion, a price-to-earnings ratio of 32.99, a P/E/G ratio of 1.72 and a beta of -0.27. The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88. The business's 50-day moving average price is C$63.33 and its 200 day moving average price is C$62.93. Tourmaline Oil has a 12 month low of C$56.72 and a 12 month high of C$70.57.

Tourmaline Oil (TSE:TOU - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$1.69 earnings per share (EPS) for the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%.The company had revenue of C$1.78 billion during the quarter. Analysts predict 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. Shareholders of record on Tuesday, June 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, June 15th. Tourmaline Oil's payout ratio is 110.50%.

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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