Tourmaline Oil (TSE:TOU) Price Target Raised to C$70.00

Tourmaline Oil (TSE:TOU) had its target price upped by Desjardins from C$68.00 to C$70.00 in a research report report published on Monday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on TOU. Jefferies Financial Group dropped their price objective on shares of Tourmaline Oil from C$72.00 to C$70.00 in a report on Tuesday, January 20th. CIBC dropped their price target on shares of Tourmaline Oil from C$71.00 to C$66.00 in a research note on Tuesday, January 13th. Capital One Financial raised shares of Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 27th. Raymond James Financial decreased their price objective on Tourmaline Oil from C$74.00 to C$72.00 in a report on Thursday, November 6th. Finally, Scotiabank cut their target price on Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating on the stock in a report on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$71.56.

Tourmaline Oil Trading Up 1.2%

TSE TOU opened at C$63.67 on Monday. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. Tourmaline Oil has a twelve month low of C$55.40 and a twelve month high of C$70.83. The company has a market cap of C$24.64 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 1.72 and a beta of -0.03. The business’s fifty day moving average is C$61.61 and its 200 day moving average is C$60.67.

Tourmaline Oil (TSE:TOU) last issued its earnings results on Wednesday, November 5th. The company reported C$0.49 earnings per share (EPS) for the quarter. Tourmaline Oil had a return on equity of 11.08% and a net margin of 28.53%.The business had revenue of C$1.40 billion during the quarter. As a group, sell-side analysts expect that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were issued a $0.50 dividend. The ex-dividend date was Monday, December 15th. This represents a $2.00 annualized dividend and a yield of 3.1%. Tourmaline Oil’s payout ratio is presently 52.86%.

Insider Buying and Selling

In other Tourmaline Oil news, insider Mike Rose purchased 2,500 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was purchased at an average cost of C$58.72 per share, for a total transaction of C$146,800.00. Following the acquisition, the insider owned 8,032,678 shares in the company, valued at approximately C$471,678,852.16. The trade was a 0.03% increase in their position. Company insiders own 5.13% of the company’s stock.

Tourmaline Oil Company Profile

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.