Tourmaline Oil - TOU Stock Forecast, Price & News

Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. The company was incorporated in 2008 and is headquartered in Calgary, Canada.

Analyst Upgrades and Downgrades

TOU has been the topic of several recent analyst reports. Scotiabank upped their price objective on shares of Tourmaline Oil from C$98.00 to C$106.00 in a research note on Thursday, July 14th. TD Securities raised shares of Tourmaline Oil from a "hold" rating to a "buy" rating and upped their price objective for the company from C$80.00 to C$96.00 in a research note on Thursday, June 30th. Stifel Nicolaus upped their price objective on shares of Tourmaline Oil from C$90.50 to C$96.50 in a research note on Monday, July 4th. Cormark upped their price objective on shares of Tourmaline Oil from C$70.00 to C$85.00 and gave the company a "buy" rating in a research note on Monday, April 18th. Finally, Raymond James increased their price target on shares of Tourmaline Oil from C$85.00 to C$90.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, July 5th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Tourmaline Oil has a consensus rating of "Buy" and an average target price of C$75.93.

Tourmaline Oil Price Performance

TSE:TOU opened at C$72.71 on Monday. The stock has a market cap of C$24.43 billion and a P/E ratio of 10.54. Tourmaline Oil has a one year low of C$29.25 and a one year high of C$80.67. The company has a fifty day moving average price of C$71.19 and a 200 day moving average price of C$62.07. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.62 and a quick ratio of 0.58.

Tourmaline Oil (TSE:TOU - Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The company reported C$2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of C$2.83 by C($0.43). The business had revenue of C$1.82 billion for the quarter. Analysts anticipate that Tourmaline Oil will post 10.8300001 earnings per share for the current year.

Tourmaline Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Thursday, June 30th were issued a $0.225 dividend. This is a positive change from Tourmaline Oil's previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, June 14th. This represents a $0.90 annualized dividend and a dividend yield of 1.24%. Tourmaline Oil's dividend payout ratio is presently 11.23%.

Insider Transactions at Tourmaline Oil

In other news, Senior Officer Mike Rose bought 5,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were acquired at an average price of C$72.05 per share, with a total value of C$360,267.00. Following the acquisition, the insider now owns 8,854,974 shares in the company, valued at C$638,030,983.61. In related news, Senior Officer Mike Rose purchased 5,000 shares of Tourmaline Oil stock in a transaction that occurred on Thursday, August 4th. The shares were acquired at an average price of C$72.05 per share, for a total transaction of C$360,267.00. Following the transaction, the insider now directly owns 8,854,974 shares in the company, valued at C$638,030,983.61. Also, Director Janet Weiss purchased 425 shares of Tourmaline Oil stock in a transaction that occurred on Thursday, June 23rd. The shares were bought at an average price of C$61.61 per share, for a total transaction of C$26,182.98. Following the transaction, the director now owns 8,969 shares in the company, valued at C$552,553.18. In the last quarter, insiders have bought 31,825 shares of company stock valued at $2,246,884.