Shares of Tourmaline Oil Corp. (TSE:TOU – Get Rating) have been assigned a consensus recommendation of "Buy" from the fourteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is C$80.04.
A number of research firms recently issued reports on TOU. National Bankshares reduced their target price on Tourmaline Oil from C$95.00 to C$85.00 and set an "outperform" rating on the stock in a research note on Monday, July 18th. Scotiabank upped their price objective on Tourmaline Oil from C$106.00 to C$116.00 in a report on Monday. Stifel Nicolaus upped their price objective on Tourmaline Oil from C$90.50 to C$96.50 in a report on Monday, July 4th. Raymond James increased their price target on Tourmaline Oil from C$85.00 to C$90.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 5th. Finally, CIBC increased their price target on Tourmaline Oil from C$90.00 to C$100.00 in a report on Monday, August 22nd.
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Tourmaline Oil Stock Down 0.3 %
Shares of TSE TOU opened at C$78.61 on Tuesday. Tourmaline Oil has a 1 year low of C$38.10 and a 1 year high of C$84.33. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.62 and a quick ratio of 0.58. The company has a market capitalization of C$26.42 billion and a price-to-earnings ratio of 10.84. The business has a 50-day moving average of C$75.50 and a two-hundred day moving average of C$68.86.
Tourmaline Oil (TSE:TOU – Get Rating) last posted its earnings results on Wednesday, July 27th. The company reported C$2.40 earnings per share for the quarter, missing the consensus estimate of C$2.83 by C($0.43). The firm had revenue of C$1.82 billion during the quarter. On average, analysts forecast that Tourmaline Oil will post 12.9140057 earnings per share for the current fiscal year.
Tourmaline Oil Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 29th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Wednesday, September 14th. Tourmaline Oil's dividend payout ratio is 10.69%.
Insider Activity at Tourmaline Oil
In other news, Senior Officer Mike Rose bought 5,000 shares of the company's stock in a transaction that occurred on Thursday, June 23rd. The shares were purchased at an average price of C$62.66 per share, for a total transaction of C$313,314.00. Following the acquisition, the insider now directly owns 8,784,973 shares of the company's stock, valued at approximately C$550,491,006.10. In related news, Senior Officer Mike Rose acquired 5,000 shares of the company's stock in a transaction dated Thursday, June 23rd. The shares were bought at an average price of C$62.66 per share, for a total transaction of C$313,314.00. Following the acquisition, the insider now owns 8,784,973 shares in the company, valued at approximately C$550,491,006.10. Also, Director Janet Weiss acquired 425 shares of the company's stock in a transaction dated 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 acquisition, the director now owns 8,969 shares in the company, valued at approximately C$552,553.18. In the last 90 days, insiders acquired 16,825 shares of company stock valued at $1,182,481.
About Tourmaline Oil
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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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