Tourmaline Oil Corp. (TSE:TOU) Receives C$77.96 Average PT from Brokerages

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) has received an average rating of "Moderate Buy" from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is C$77.96.

A number of equities analysts recently issued reports on TOU shares. TD Securities decreased their price target on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a "buy" rating for the company in a research note on Wednesday, October 23rd. Cormark raised Tourmaline Oil to a "hold" rating in a research report on Monday, September 23rd. UBS Group lifted their price target on Tourmaline Oil from C$70.00 to C$73.00 in a research report on Monday. National Bankshares set a C$72.50 price objective on Tourmaline Oil and gave the stock a "buy" rating in a report on Tuesday, September 24th. Finally, Canaccord Genuity Group dropped their target price on shares of Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd.

Tourmaline Oil Trading Down 1.0 %

Shares of TOU traded down C$0.64 during mid-day trading on Friday, hitting C$63.39. 1,403,751 shares of the company's stock traded hands, compared to its average volume of 2,405,245. The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24. The firm has a market capitalization of C$23.53 billion, a P/E ratio of 15.02, a PEG ratio of 1.72 and a beta of 1.30. The business's 50-day moving average price is C$64.24 and its 200-day moving average price is C$62.74. Tourmaline Oil has a 1 year low of C$53.45 and a 1 year high of C$69.25.

Tourmaline Oil (TSE:TOU - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C$1.00 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$1.26 by C($0.26). Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. The company had revenue of C$1.47 billion for the quarter, compared to analysts' expectations of C$1.63 billion. As a group, sell-side analysts forecast that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Monday, December 16th. This is an increase from Tourmaline Oil's previous quarterly dividend of $0.32. Tourmaline Oil's dividend payout ratio is currently 33.18%.

Insider Activity at Tourmaline Oil

In related news, Director Jill Terilee Angevine bought 2,500 shares of the stock in a transaction on Wednesday, September 25th. The shares were acquired at an average price of C$59.85 per share, for a total transaction of C$149,625.00. Also, Senior Officer William Scott Kirker sold 66,000 shares of Tourmaline Oil stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of C$66.37, for a total transaction of C$4,380,274.80. Insiders bought 15,000 shares of company stock valued at $926,731 over the last 90 days. Corporate insiders own 5.13% of the company's stock.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.