Tourmaline Oil (TSE:TOU) Issues Earnings Results, Misses Expectations By $0.26 EPS

Tourmaline Oil (TSE:TOU) released its quarterly earnings data on Wednesday. The company reported C$1.00 EPS for the quarter, missing analysts’ consensus estimates of C$1.26 by C($0.26), reports. The company had revenue of C$1.47 billion for the quarter, compared to the consensus estimate of C$1.63 billion. Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%.

Tourmaline Oil Trading Down 3.0 %

Shares of Tourmaline Oil stock traded down C$1.96 during midday trading on Friday, reaching C$63.16. The company had a trading volume of 9,158,795 shares, compared to its average volume of 2,408,768. Tourmaline Oil has a fifty-two week low of C$53.45 and a fifty-two week high of C$70.00. The stock has a fifty day moving average price of C$62.09 and a 200 day moving average price of C$63.08. The firm has a market cap of C$23.45 billion, a PE ratio of 14.97, a P/E/G ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.11 and a quick ratio of 0.47.

Tourmaline Oil Cuts Dividend

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

Analyst Ratings Changes

TOU has been the topic of a number of research reports. Desjardins upped their price target on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. National Bankshares set a C$72.50 target price on Tourmaline Oil and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Canaccord Genuity Group dropped their price target on Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. Jefferies Financial Group increased their target price on shares of Tourmaline Oil from C$67.00 to C$73.00 in a research report on Thursday. Finally, Cormark raised Tourmaline Oil to a “hold” rating in a report on Monday, September 23rd. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tourmaline Oil presently has an average rating of “Moderate Buy” and a consensus target price of C$78.41.

Insider Buying and Selling at Tourmaline Oil

In related news, Director Jill Terilee Angevine purchased 1,300 shares of Tourmaline Oil stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost of C$61.29 per share, for a total transaction of C$79,677.00. In related news, Director Jill Terilee Angevine bought 1,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price of C$61.29 per share, with a total value of C$79,677.00. Also, Senior Officer William Scott Kirker sold 66,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of C$66.37, for a total transaction of C$4,380,274.80. Over the last quarter, insiders have bought 36,800 shares of company stock valued at $2,233,566. 5.13% of the stock is currently owned by 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.