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Tourmaline Oil Corp. (TSE:TOU – Get Rating) – Equities researchers at Stifel Firstegy dropped their FY2022 earnings per share (EPS) estimates for Tourmaline Oil in a research report issued on Thursday, January 26th. Stifel Firstegy analyst M. Dunn now expects that the company will post earnings of $12.30 per share for the year, down from their previous forecast of $12.48. Stifel Firstegy has a “Buy” rating on the stock. The consensus estimate for Tourmaline Oil’s current full-year earnings is $11.99 per share. Stifel Firstegy also issued estimates for Tourmaline Oil’s Q4 2022 earnings at $2.90 EPS.
Tourmaline Oil (TSE:TOU – Get Rating) last released its earnings results on Wednesday, November 2nd. The company reported C$6.11 earnings per share for the quarter. The company had revenue of C$1.74 billion during the quarter.
TOU has been the subject of several other research reports. ATB Capital decreased their target price on Tourmaline Oil from C$100.00 to C$95.00 in a research report on Monday, January 16th. Scotiabank cut their target price on Tourmaline Oil from C$117.00 to C$112.00 in a research note on Tuesday, January 17th. Raymond James lowered their price target on Tourmaline Oil from C$95.00 to C$90.00 and set a “strong-buy” rating on the stock in a report on Monday, January 16th. Stifel Nicolaus lowered their price target on Tourmaline Oil from C$82.00 to C$80.00 in a report on Monday, January 16th. Finally, Barclays set a C$85.00 target price on Tourmaline Oil and gave the stock an “overweight” rating in a report on Wednesday, January 18th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$90.80.
Tourmaline Oil Trading Up 1.3 %
TOU opened at C$64.61 on Monday. The business has a 50 day simple moving average of C$71.09 and a two-hundred day simple moving average of C$74.36. The firm has a market capitalization of C$21.84 billion and a price-to-earnings ratio of 3.97. The company has a debt-to-equity ratio of 3.16, a current ratio of 1.28 and a quick ratio of 0.47. Tourmaline Oil has a one year low of C$43.39 and a one year high of C$84.33.
Tourmaline Oil Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 30th were paid a $0.25 dividend. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.23. The ex-dividend date was Wednesday, December 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.55%. Tourmaline Oil’s payout ratio is 5.10%.
Insiders Place Their Bets
In related news, Director Jill Terilee Angevine acquired 490 shares of the company’s stock in a transaction dated Wednesday, January 25th. The shares were purchased at an average cost of C$62.63 per share, with a total value of C$30,688.70. Following the completion of the acquisition, the director now directly owns 46,000 shares of the company’s stock, valued at C$2,880,980. In other Tourmaline Oil news, Director Jill Terilee Angevine purchased 490 shares of the stock in a transaction on Wednesday, January 25th. The shares were bought at an average cost of C$62.63 per share, with a total value of C$30,688.70. Following the completion of the acquisition, the director now owns 46,000 shares in the company, valued at C$2,880,980. Also, Senior Officer Mike Rose acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was purchased at an average price of C$77.43 per share, with a total value of C$387,158.00. Following the transaction, the insider now owns 8,864,974 shares of the company’s stock, valued at approximately C$686,429,120.78. Over the last three months, insiders have bought 31,620 shares of company stock valued at $2,144,217.
About Tourmaline Oil
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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