Brokerages Set Tourmaline Oil Corp. (TSE:TOU) Price Target at C$77.86

Shares of Tourmaline Oil Corp. (TSE:TOU) have been given an average recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$77.86.

Several research analysts recently issued reports on the company. Jefferies Financial Group cut their price objective on Tourmaline Oil from C$75.00 to C$67.00 and set a “buy” rating for the company in a research report on Monday, September 16th. TD Securities cut their price target on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Scotiabank increased their price objective on Tourmaline Oil from C$90.00 to C$93.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Cormark raised shares of Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd. Finally, National Bankshares set a C$72.50 price target on shares of Tourmaline Oil and gave the stock a “buy” rating in a research note on Tuesday, September 24th.

Insider Buying and Selling

In related news, Director Jill Terilee Angevine purchased 1,300 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of C$61.29 per share, for a total transaction of C$79,677.00. In other news, Director Jill Terilee Angevine acquired 1,300 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were bought at an average cost of C$61.29 per share, for a total transaction of C$79,677.00. Also, Senior Officer Mike Rose bought 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average price of C$57.07 per share, with a total value of C$285,369.00. Over the last quarter, insiders purchased 36,800 shares of company stock valued at $2,233,566. Insiders own 5.13% of the company’s stock.

Tourmaline Oil Trading Up 2.1 %

TSE:TOU opened at C$65.78 on Thursday. Tourmaline Oil has a 52-week low of C$53.45 and a 52-week high of C$74.21. 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 stock has a fifty day simple moving average of C$61.91 and a 200-day simple moving average of C$63.16. The company has a market capitalization of C$24.42 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, July 31st. The company reported C$0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.09 by C($0.37). The business had revenue of C$1.31 billion for the quarter, compared to analyst estimates of C$1.37 billion. Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. On average, equities research analysts expect that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Cuts Dividend

The business also recently announced a None dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.50 dividend. The ex-dividend date was Friday, September 13th. This represents a yield of 2.26%. Tourmaline Oil’s payout ratio is 33.18%.

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.