Tourmaline Oil (TSE:TOU) Price Target Lowered to C$72.50 at Canaccord Genuity Group

Tourmaline Oil (TSE:TOU) had its price objective cut by Canaccord Genuity Group from C$75.00 to C$72.50 in a report published on Wednesday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research analysts have also recently weighed in on the stock. BMO Capital Markets cut their price target on shares of Tourmaline Oil from C$78.00 to C$75.00 in a report on Thursday, March 28th. Jefferies Financial Group boosted their target price on shares of Tourmaline Oil from C$70.00 to C$75.00 and gave the company a buy rating in a research note on Friday, April 12th. Scotiabank dropped their target price on shares of Tourmaline Oil from C$100.00 to C$90.00 and set an outperform rating on the stock in a research note on Tuesday, January 16th. National Bankshares dropped their target price on shares of Tourmaline Oil from C$80.00 to C$70.00 and set an outperform rating on the stock in a research note on Wednesday, January 10th. Finally, Raymond James dropped their target price on shares of Tourmaline Oil from C$90.00 to C$85.00 and set a strong-buy rating on the stock in a research note on Friday, January 19th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Buy and an average target price of C$77.38.

Tourmaline Oil Stock Up 0.0 %

Tourmaline Oil stock opened at C$65.24 on Wednesday. Tourmaline Oil has a fifty-two week low of C$53.45 and a fifty-two week high of C$74.21. The stock has a market cap of C$22.93 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 1.72 and a beta of 1.40. The firm’s 50-day simple moving average is C$61.22 and its 200 day simple moving average is C$63.14. The company has a debt-to-equity ratio of 8.04, a quick ratio of 0.47 and a current ratio of 0.81.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 earnings per share for the quarter, topping the consensus estimate of C$1.41 by C$0.59. Tourmaline Oil had a net margin of 35.87% and a return on equity of 12.53%. The business had revenue of C$1.66 billion for the quarter, compared to analysts’ expectations of C$1.49 billion. Research analysts predict that Tourmaline Oil will post 4.710507 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.30 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.84%. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.28. Tourmaline Oil’s payout ratio is 23.86%.

Insider Activity

In other news, Senior Officer Mike Rose bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were acquired at an average price of C$55.41 per share, with a total value of C$277,025.00. In other news, Senior Officer Mike Rose bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were acquired at an average price of C$55.41 per share, with a total value of C$277,025.00. Also, Director Janet Weiss bought 650 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were purchased at an average cost of C$43.66 per share, for a total transaction of C$28,376.40. Insiders have acquired a total of 15,180 shares of company stock valued at $880,681 over the last quarter. Company insiders own 5.19% of the company’s stock.

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.