Tourmaline Oil (TSE:TOU) Given New C$74.00 Price Target at Desjardins

Tourmaline Oil (TSE:TOU) had its target price decreased by Desjardins from C$75.00 to C$74.00 in a research note published on Tuesday, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on TOU. Scotiabank dropped their price target on Tourmaline Oil from C$100.00 to C$90.00 and set an outperform rating on the stock in a research report on Tuesday, January 16th. Jefferies Financial Group increased their target price on Tourmaline Oil from C$70.00 to C$75.00 and gave the stock a buy rating in a research report on Friday, April 12th. TD Securities reduced their price target on shares of Tourmaline Oil from C$75.00 to C$72.00 and set a buy rating for the company in a report on Thursday, March 7th. National Bankshares lowered their price target on shares of Tourmaline Oil from C$80.00 to C$70.00 and set an outperform rating for the company in a research report on Wednesday, January 10th. Finally, BMO Capital Markets cut their price objective on shares of Tourmaline Oil from C$78.00 to C$75.00 in a research report on Thursday, March 28th. 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.com, the company has an average rating of Buy and an average target price of C$78.08.

Tourmaline Oil Stock Up 0.7 %

TOU stock opened at C$66.16 on Tuesday. The firm has a market cap of C$23.25 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 1.72 and a beta of 1.40. Tourmaline Oil has a 1-year low of C$53.45 and a 1-year high of C$74.21. The firm has a fifty day moving average price of C$61.98 and a two-hundred day moving average price of C$63.08. The company has a debt-to-equity ratio of 8.04, a current ratio of 0.81 and a quick ratio of 0.47.

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

Tourmaline Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 1.81%. Tourmaline Oil’s dividend payout ratio (DPR) is 23.86%.

Insider Activity

In other news, Director Janet Weiss bought 650 shares of the stock in a transaction that occurred on Friday, January 26th. The shares were purchased at an average cost of C$43.66 per share, with a total value of C$28,376.40. In related news, Director Janet Weiss purchased 650 shares of the company’s stock in a transaction on Friday, January 26th. The shares were bought at an average price of C$43.66 per share, with a total value of C$28,376.40. Also, Senior Officer Mike Rose acquired 2,500 shares of Tourmaline Oil stock in a transaction dated Friday, March 22nd. The shares were bought at an average cost of C$59.42 per share, with a total value of C$148,543.00. Insiders bought a total of 13,680 shares of company stock worth $795,961 over the last 90 days. 5.19% of the stock is currently owned by company 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.