Tourmaline Oil (TSE:TOU) Stock Rating Upgraded by Cormark

Cormark upgraded shares of Tourmaline Oil (TSE:TOU) to a hold rating in a research note released on Monday, Zacks.com reports.

Other analysts have also recently issued reports about the company. UBS Group raised Tourmaline Oil to a hold rating in a research report on Thursday, June 20th. 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 report on Tuesday, August 13th. Canaccord Genuity Group upped their price target on shares of Tourmaline Oil from C$73.50 to C$75.00 and gave the company a buy rating in a research report on Tuesday, August 13th. Jefferies Financial Group lowered their price objective on shares of Tourmaline Oil from C$75.00 to C$67.00 and set a buy rating on the stock in a research report on Monday, September 16th. Finally, Scotiabank lifted their price objective on shares of 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. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of C$78.38.

Tourmaline Oil Price Performance

Shares of TSE TOU opened at C$59.04 on Monday. The stock’s 50-day simple moving average is C$60.07 and its 200-day simple moving average is C$62.82. 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 has a market capitalization of C$20.81 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 1.72 and a beta of 1.31. Tourmaline Oil has a fifty-two week low of C$53.45 and a fifty-two week high of C$74.21.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.72 earnings per share for the quarter, missing the consensus estimate of C$1.09 by C($0.37). Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. The company had revenue of C$1.31 billion for the quarter, compared to analysts’ expectations of C$1.37 billion. As a group, equities research analysts forecast that Tourmaline Oil will post 6.5144766 EPS for the current fiscal year.

Tourmaline Oil Cuts Dividend

The firm also recently announced a None dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.50 per share. This represents a dividend yield of 2.26%. The ex-dividend date is Friday, September 13th. Tourmaline Oil’s dividend payout ratio (DPR) is 33.18%.

Insider Activity at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer Mike Rose acquired 5,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of C$60.56 per share, for a total transaction of C$302,778.50. In related news, Senior Officer Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of C$60.56 per share, for a total transaction of C$302,778.50. Also, Director Jill Terilee Angevine bought 3,000 shares of the stock in a transaction on Friday, August 16th. The shares were bought at an average price of C$63.17 per share, for a total transaction of C$189,510.00. Insiders have acquired a total of 31,800 shares of company stock worth $1,915,381 over the last three months. 5.41% of the stock is currently owned by corporate insiders.

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.