Tourmaline Oil (TOU) Set to Announce Quarterly Earnings on Wednesday

Tourmaline Oil (TSE:TOU - Get Free Report) is scheduled to announce its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of C$1.72 per share for the quarter.

Tourmaline Oil (TSE:TOU - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.09 by C($0.37). Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. The company had revenue of C$1.31 billion during the quarter, compared to analyst estimates of C$1.37 billion.

Tourmaline Oil Stock Performance

Tourmaline Oil stock traded up C$1.36 during mid-day trading on Wednesday, reaching C$65.80. 765,354 shares of the company were exchanged, compared to its average volume of 2,371,407. The firm has a market cap of C$24.43 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.47 and a current ratio of 1.11. The firm's 50-day simple moving average is C$61.86 and its two-hundred day simple moving average is C$63.14. Tourmaline Oil has a twelve month low of C$53.45 and a twelve month high of C$74.21.

Tourmaline Oil Cuts Dividend

The company also recently disclosed a None dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.50 dividend. The ex-dividend date was Friday, September 13th. This represents a yield of 2.26%. Tourmaline Oil's dividend payout ratio (DPR) is 33.18%.

Insider Transactions at Tourmaline Oil

In other news, Senior Officer Mike Rose purchased 2,500 shares of the stock in a transaction dated Tuesday, October 15th. The stock was acquired at an average cost of C$63.32 per share, for a total transaction of C$158,310.00. In other news, Senior Officer William Scott Kirker sold 66,000 shares of the company's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of C$66.37, for a total transaction of C$4,380,274.80. Also, Senior Officer Mike Rose bought 2,500 shares of Tourmaline Oil stock in a transaction that occurred on Tuesday, October 15th. The stock was purchased at an average price of C$63.32 per share, for a total transaction of C$158,310.00. Insiders purchased a total of 36,800 shares of company stock valued at $2,233,566 over the last three months. 5.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Desjardins raised their target price on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the stock a "buy" rating in a research note on Tuesday, August 13th. National Bankshares set a C$72.50 price objective on shares of Tourmaline Oil and gave the company a "buy" rating in a research report on Tuesday, September 24th. Cormark upgraded Tourmaline Oil to a "hold" rating in a research report on Monday, September 23rd. Scotiabank raised their price target on Tourmaline Oil from C$90.00 to C$93.00 and gave the company an "outperform" rating in a report on Tuesday, August 13th. Finally, Canaccord Genuity Group dropped their price objective on Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of C$77.86.

Tourmaline Oil Company Profile

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.