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Tourmaline Oil Corp. (TSE:TOU – Get Rating) – Equities researchers at Stifel Firstegy lowered their Q3 2022 earnings estimates for shares of Tourmaline Oil in a report issued on Thursday, September 1st. Stifel Firstegy analyst R. Fitzmartyn now forecasts that the company will earn $1.85 per share 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.
TOU has been the topic of a number of other reports. CIBC boosted their target price on Tourmaline Oil from C$90.00 to C$100.00 in a research report on Monday, August 22nd. National Bankshares decreased their price target on shares of 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. Stifel Nicolaus increased their price target on Tourmaline Oil from C$90.50 to C$96.50 in a research note on Monday, July 4th. Raymond James boosted their price objective on shares of Tourmaline Oil from C$85.00 to C$90.00 and gave the company a “strong-buy” rating in a research note on Tuesday, July 5th. Finally, ATB Capital lifted their price objective on Tourmaline Oil from C$85.00 to C$90.00 in a research note on Friday, July 29th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$77.00.
Tourmaline Oil Stock Up 1.5 %
Shares of TSE:TOU opened at C$77.79 on Monday. The company has a quick ratio of 0.58, a current ratio of 0.62 and a debt-to-equity ratio of 3.99. The firm’s 50-day simple moving average is C$72.51 and its 200-day simple moving average is C$66.00. The company has a market cap of C$26.14 billion and a price-to-earnings ratio of 10.73. Tourmaline Oil has a fifty-two week low of C$34.52 and a fifty-two week high of C$81.31.
Tourmaline Oil (TSE:TOU – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The company reported C$2.40 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.83 by C($0.43). The business had revenue of C$1.82 billion for the quarter.
Insider Activity
In other news, Director Janet Weiss bought 425 shares of the business’s stock in a transaction that occurred on Thursday, June 23rd. The stock was acquired at an average cost of C$61.61 per share, for a total transaction of C$26,182.98. Following the purchase, the director now owns 8,969 shares of the company’s stock, valued at approximately C$552,553.18. In other news, Director Janet Weiss purchased 425 shares of the business’s stock in a transaction dated Thursday, June 23rd. The shares were purchased at an average cost of C$61.61 per share, with a total value of C$26,182.98. Following the completion of the purchase, the director now owns 8,969 shares of the company’s stock, valued at approximately C$552,553.18. Also, Senior Officer Mike Rose acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were purchased at an average price of C$72.05 per share, with a total value of C$360,267.00. Following the completion of the transaction, the insider now owns 8,854,974 shares of the company’s stock, valued at C$638,030,983.61. Insiders have bought a total of 21,825 shares of company stock worth $1,520,210 over the last three months.
Tourmaline Oil Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 30th were given a $0.225 dividend. The ex-dividend date was Tuesday, June 14th. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.20. This represents a $0.90 annualized dividend and a dividend yield of 1.16%. Tourmaline Oil’s payout ratio is currently 10.69%.
Tourmaline Oil Company Profile
(Get Rating)
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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