Analysts’ Weekly Ratings Updates for Tourmaline Oil (TOU)

Several brokerages have updated their recommendations and price targets on shares of Tourmaline Oil (TSE: TOU) in the last few weeks:

• 5/2/2024 – Tourmaline Oil had its price target raised by analysts at CIBC from C$77.50 to C$80.00. They now have an “outperform” rating on the stock.
• 5/2/2024 – Tourmaline Oil had its price target raised by analysts at Canaccord Genuity Group Inc. from C$72.50 to C$73.50. They now have a “buy” rating on the stock.
• 4/23/2024 – Tourmaline Oil had its price target raised by analysts at Stifel Nicolaus from C$75.00 to C$80.00. They now have a “buy” rating on the stock.
• 4/23/2024 – Tourmaline Oil had its price target lowered by analysts at Desjardins from C$75.00 to C$74.00. They now have a “buy” rating on the stock.
• 4/22/2024 – Tourmaline Oil had its price target raised by analysts at CIBC from C$72.50 to C$77.51. They now have an “outperform” rating on the stock.
• 4/17/2024 – Tourmaline Oil had its price target lowered by analysts at Canaccord Genuity Group Inc. from C$75.00 to C$72.50. They now have a “buy” rating on the stock.
• 4/12/2024 – Tourmaline Oil had its price target raised by analysts at Jefferies Financial Group Inc. from C$70.00 to C$75.00. They now have a “buy” rating on the stock.
• 3/28/2024 – Tourmaline Oil had its price target lowered by analysts at BMO Capital Markets from C$78.00 to C$75.00.
• 3/22/2024 – Tourmaline Oil had its price target lowered by analysts at Desjardins from C$76.00 to C$75.00. They now have a “buy” rating on the stock.
• 3/20/2024 – Tourmaline Oil had its price target lowered by analysts at ATB Capital from C$85.00 to C$80.00. They now have an “outperform” rating on the stock.
• 3/7/2024 – Tourmaline Oil had its price target lowered by analysts at TD Securities from C$75.00 to C$72.00. They now have a “buy” rating on the stock.

Tourmaline Oil Price Performance

Shares of TSE:TOU traded up C$0.04 during trading hours on Thursday, hitting C$65.83. 958,128 shares of the company’s stock traded hands, compared to its average volume of 1,977,120. Tourmaline Oil Corp. has a 52 week low of C$53.45 and a 52 week high of C$74.21. The company has a debt-to-equity ratio of 8.04, a quick ratio of 0.47 and a current ratio of 0.81. The company’s fifty day simple moving average is C$63.24 and its two-hundred day simple moving average is C$63.05. The company has a market cap of C$23.14 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 1.72 and a beta of 1.40.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings data on Wednesday, March 6th. The company reported C$2.00 earnings per share for the quarter, beating the consensus estimate of C$1.41 by C$0.59. Tourmaline Oil had a net margin of 35.87% and a return on equity of 12.53%. The company had revenue of C$1.66 billion during the quarter, compared to analyst estimates of C$1.49 billion. As a group, equities analysts anticipate that Tourmaline Oil Corp. will post 4.710507 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 1.82%. Tourmaline Oil’s dividend payout ratio is currently 23.86%.

Insider Buying and Selling at Tourmaline Oil

In other news, Senior Officer Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction on Friday, March 8th. The stock was bought at an average cost of C$62.25 per share, with a total value of C$311,259.00. Over the last ninety days, insiders bought 12,630 shares of company stock valued at $743,877. 5.19% of the stock is currently owned by corporate insiders.

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.