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

Tourmaline Oil (TSE:TOU) announced its earnings results on Wednesday. The company reported C$1.00 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.26 by C($0.26), reports. The business had revenue of C$1.47 billion during 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 Price Performance

Shares of TOU stock traded down C$1.96 during trading hours on Friday, hitting C$63.16. The stock had a trading volume of 9,158,795 shares, compared to its average volume of 2,408,768. Tourmaline Oil has a one year low of C$53.45 and a one year high of C$70.00. The stock has a market capitalization of C$23.45 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.72 and a beta of 1.30. The stock’s 50-day moving average price is C$62.09 and its two-hundred day moving average price is C$63.08. 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. Shareholders of record on Friday, September 13th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a yield of 2.26%. Tourmaline Oil’s payout ratio is 33.18%.

Analyst Upgrades and Downgrades

Several research firms recently commented on TOU. Scotiabank increased their target price on shares of Tourmaline Oil from C$90.00 to C$93.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Desjardins boosted their target price on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Canaccord Genuity Group dropped their target price on Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. Jefferies Financial Group boosted their target price on 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 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$78.41.

Insider Activity

In other news, Senior Officer Mike Rose bought 5,000 shares of the stock in a transaction dated 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 purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost 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 Tourmaline Oil stock in a transaction dated Friday, August 16th. The shares were bought at an average cost of C$63.17 per share, for a total transaction of C$189,510.00. In the last three months, insiders have acquired 36,800 shares of company stock worth $2,233,566. 5.13% of the stock is currently owned by corporate insiders.

Tourmaline Oil Company Profile

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.