Tourmaline Oil Corp. (TSE:TOU – Get Rating) – Research analysts at Stifel Firstegy dropped their Q3 2022 earnings per share (EPS) estimates for shares of Tourmaline Oil in a research note issued to investors on Thursday, September 1st. Stifel Firstegy analyst R. Fitzmartyn now expects that the company will post earnings per share of $1.85 for the quarter, down from their prior forecast of $1.88. The consensus estimate for Tourmaline Oil's current full-year earnings is $10.95 per share.
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TOU has been the subject of several other reports. Scotiabank increased their price target on Tourmaline Oil from C$98.00 to C$106.00 in a report on Thursday, July 14th. Stifel Nicolaus boosted their price target on Tourmaline Oil from C$90.50 to C$96.50 in a report on Monday, July 4th. CIBC raised their price target on Tourmaline Oil from C$90.00 to C$100.00 in a research note on Monday, August 22nd. National Bankshares reduced their price target on Tourmaline Oil from C$95.00 to C$85.00 and set an "outperform" rating for the company in a report on Monday, July 18th. Finally, ATB Capital boosted their price objective on Tourmaline Oil from C$85.00 to C$90.00 in a report on Friday, July 29th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of C$77.00.
Tourmaline Oil Price Performance
TOU opened at C$77.79 on Monday. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.58 and a current ratio of 0.62. Tourmaline Oil has a 52 week low of C$34.52 and a 52 week high of C$81.31. The firm has a market capitalization of C$26.14 billion and a PE ratio of 10.73. The company has a fifty day moving average price of C$72.51 and a two-hundred day moving average price of C$66.00.
Tourmaline Oil (TSE:TOU – Get Rating) last posted its quarterly earnings data 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 during the quarter.
Insider Transactions at Tourmaline Oil
In other Tourmaline Oil news, Senior Officer Mike Rose acquired 5,000 shares of the company's stock in a transaction that occurred on Thursday, August 4th. The shares were bought at an average cost of C$72.05 per share, with a total value of C$360,267.00. Following the completion of the transaction, the insider now directly owns 8,854,974 shares of the company's stock, valued at approximately C$638,030,983.61. In related news, Senior Officer Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction dated Thursday, August 4th. The shares were purchased at an average price of C$72.05 per share, for a total transaction of C$360,267.00. Following the completion of the transaction, the insider now directly owns 8,854,974 shares in the company, valued at approximately C$638,030,983.61. Also, Director Janet Weiss bought 425 shares of the stock in a transaction dated Thursday, June 23rd. The shares were purchased at an average price of C$61.61 per share, with a total value of C$26,182.98. Following the completion of the transaction, the director now directly owns 8,969 shares in the company, valued at approximately C$552,553.18. Insiders purchased a total of 21,825 shares of company stock valued at $1,520,210 in the last quarter.
Tourmaline Oil Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Thursday, June 30th were given a $0.225 dividend. This is a boost from Tourmaline Oil's previous quarterly dividend of $0.20. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Tuesday, June 14th. Tourmaline Oil's payout ratio is currently 10.69%.
Tourmaline Oil Company Profile
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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.
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