Tourmaline Oil (TSE:TOU) PT Lowered to C$74.00 at Desjardins

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

Several other research firms have also commented on TOU. Raymond James cut their target price on shares of Tourmaline Oil from C$90.00 to C$85.00 and set a strong-buy rating for the company in a research note on Friday, January 19th. 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. CIBC upped their price objective on shares of Tourmaline Oil from C$72.50 to C$77.51 and gave the company an outperform rating in a research note on Monday. National Bankshares dropped their price objective 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, Jefferies Financial Group boosted their target price on shares of 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. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Buy and an average target price of C$78.08.

Tourmaline Oil Stock Performance

TSE:TOU opened at C$68.18 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.47 and a debt-to-equity ratio of 8.04. The firm has a market capitalization of C$23.96 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.72 and a beta of 1.40. The firm’s fifty day simple moving average is C$62.23 and its 200 day simple moving average is C$63.10. Tourmaline Oil has a twelve month low of C$53.45 and a twelve month high of C$74.21.

Tourmaline Oil (TSE:TOU) last released its 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 company had revenue of C$1.66 billion during the quarter, compared to the consensus estimate of C$1.49 billion. As a group, equities research analysts expect that Tourmaline Oil will post 4.710507 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.76%. The ex-dividend date was Thursday, March 14th. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.28. Tourmaline Oil’s dividend payout ratio (DPR) is presently 23.86%.

Insider Transactions at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer Mike Rose purchased 5,000 shares of the stock in a transaction dated Friday, March 8th. The stock was bought at an average price of C$62.25 per share, for a total transaction of C$311,259.00. Insiders acquired a total of 12,630 shares of company stock worth $743,877 in the last quarter. 5.19% of the stock is 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.