$TOU.TO

Tourmaline Oil Declares Quarterly Dividend And Announces Election of Directors

Tourmaline Oil's (TOU.TO) board declared a quarterly cash dividend on its common shares of $0.50 per share, payable on June 30, to shareholders of record at the close of business on June 15, it said overnight Wednesday.The latest dividend is unchanged from the prior quarter.Tourmaline also announced that ten individuals proposed by management were elected as its directors at its annual meeting of shareholders held on Wednesday.Shares of the company closed up 1.6% to $65.54 on Wednesday on the Toronto Stock Exchange.

TSX Down 14 Points in Choppy Trade as Materials Weigh

The Toronto Stock Exchange is down 14 points in choppy trade midday, weighed down by the mining sector, which has shed 4%.Most sectors are higher, with best performers energy and info tech, up 2.2% and 1.8%, respectively.According to Morningstar Canada, Canadian energy stocks have unseated resource stocks as the main driver of the stock market this year. Energy stocks have rallied, fueled by higher oil prices on the back of the Iran war. The energy sector is projected to drive the equity market's upward march for the near term, Morningstar added.Three energy stocks in Morningstar's Canada coverage had their fair value estimates raised by a "meaningful amount" following first-quarter earnings reports. Morningstar analyst Adam Baker raised his price target on the shares of Enbridge (ENB.TO) to $75 from $66, TC Energy (TRP.TO) to $80 from $68 and Tourmaline Oil (TOU) to $57 from $54.The Canadian consumer price index rose 2.8% year over year in April on rising energy prices, up from an increase of 2.4% in March, said the country's statistical agency on Tuesday. But April's CPI was lower than the 3.1% year over year consensus figure provided by MUFG.The removal of the consumer carbon levy in April 2025, which resulted in monthly declines for gasoline and natural gas, has now fallen out of the 12-month movement, putting upward pressure on the all-items CPI. Excluding gasoline, the CPI rose at a slower pace year over year in April (+2.0%) compared with March (+2.2%), StatsCan added.TD Economics isn't yet seeing much of a knock-on effect to non-energy-related goods or services, noting core inflation pressures were actually softer than expected in April. There is little argument yet for Bank of Canada rate hikes here, and market pricing for rate hikes this year has come down a bit early Tuesday, TD added.Oil prices have remained high in May, so energy prices are likely to keep headline inflation elevated for some time, said the bank. Given a generally soft economic backdrop in Canada, TD expects the effect on core prices to be more "modest." Core inflation is expected to stay reasonably close to the 2% target on a year-on-year basis this year, it added.

Tourmaline Oil Maintained at Buy at TPH After Q1 Results; Price Target at C$77.00

Tudor, Pickering, Holt on Thursday Maintained its buy rating on the shares of Tourmaline Oil (TOU.TO) with a C$77.00 price target following the company's first-quarter results."Calling the overall update neutral, with (i) mixed Q1 headline metrics including a miss on cash flow that was more than offset by capex and (ii) short-term outlook changes reflecting responses to the macro. On Q1'26 results, 666mboepd production was ~in-line with TPHe/Street 666/664 and the guidance high (655-665 range), though C$862MM cash flow missed TPHe/Street C$929MM/C$884MM (C$2.21 on a per share basis vs. TPHe/Street C$2.39/C$2.33; delta vs. TPHe primarily owing to gas and NGL realizations). However, C$202MM FCF still came in mildly better than consensus, comparing to TPHe/Street C$220MM/C$193MM, aided by capex (C$643MM E&P vs. TPHe/Street C$709MM/C$691MM). Looking ahead to Q2'26, production outlook of 595-605 comes in lighter vs. consensus 619, though owes to curtailments which we see as prudent given market conditions (company to utilize its new AltaGas Dimsdale storage capacity alongside pre-existing long-term Dan / Cali storage facilities)," analyst Jeoffrey Lambujon wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $63.52, Change: $-3.33, Percent Change: -4.98%

CIBC Increases Tourmaline Oil's Price Target to C$70 from C$67.50 Following Q1 Results

CIBC Capital Markets reiterated its outperformer rating on the shares of Tourmaline Oil (TOU.TO) while raising its price target to C$70.00 from $67.50 after the Western Canadian natural-gas producer reported first-quarter results on Wednesday.CIBC said Tourmaline's results were mixed. Its production of 666,000 barrels of oil equivalent per day aligned with CIBC's estimate and the consensus forecast.The company's cash flow of $2.21 per share was 3% below the consensus forecast of $2.27 per share and 6% below CIBC's forecast of $2.36 per share."Although near-term gas pricing remains a headwind, we do see the company's initiatives as helping to bolster future profitability in the business, which should drive increasing free cash flow," CIBC said.Price: $63.40, Change: $-3.45, Percent Change: -5.16%

Tourmaline Oil Downgraded to Market Perform at BMO Following Q1 Results; Price Target Raised to C$70.00

BMO Capital Markets on Thursday downgraded its rating on the shares of Tourmaline Oil (TOU.TO) to market perform from outperform while raising its price target to C$70.00 from an undisclosed prior level following first-quarter results from the Western Canadian natural-gas producer."TOU reported slightly lower-than-expected CFPS results with volumes coming largely in line with estimates. TOU's share price has moved in line with our target price, and we see limited room for further multiple expansion given the large premium to peers. Furthermore, TOU's natural gas volumes are heavily exposed to floating WCAD and U.S. Pacific prices, which we suspect will continue to underperform in the near term due to growing storage levels. Accordingly, we are lowering our investment opinion to Market Perform but modestly raising our target price to $70," analyst Randy Ollenberger wrote.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $62.99, Change: $-3.87, Percent Change: -5.78%

Tourmaline Oil Reports Higher Profit, Lower Revenue for First Quarter; June Dividend Anticipated

Tourmaline Oil (TOU.TO) after trade Wednesday said its first-quarter profit rose while revenue from commodity sales and realized gains fell year-over-year.The Western Canadian natural-gas producer earned $657.6 million, or $1.69 per share, in the period, up from $212.7 million, or $0.56, a year ago. FactSet expected $0.85 per share.Revenue from commodity sales and realized gains fell to $1.69 billion from $1.89 billion a year prior. FactSet projected $1.60 billion.Average production for the quarter was 666,089 barrels of oil equivalent per day, within the guidance range of 660,000 to 670,000 boepd.For full-year 2026, the company expects average production of 620,000 to 640,000 boepd, "which includes the impact of the previously disclosed Peace River High asset sale, the expiry of discretionary Alberta Deep Basin ethane extraction contracts, and the $175 million 2026 EP capital budget reduction."The company added that higher condensate, propane, and international LNG prices are expected to lift full-year free cash flow to about $0.9 billion in both 2026 and 2027.Tourmaline's board intends to declare a quarterly base dividend of $0.50 per share in early June, which will be payable on June 30 to shareholders of record at the close of business on June 15, according to the statement.The company's shares closed down $1.10 to $66.85 on the Toronto Stock Exchange.

Earnings Flash (TOU.TO) Tourmaline Reports Q1 Net EPS Diluted $1.69, Up 202%