Tourmaline Oil (TSE:TOU) Given New C$24.00 Price Target at Royal Bank of Canada

Tourmaline Oil (TSE:TOU) had its price target reduced by Royal Bank of Canada from C$26.00 to C$24.00 in a research report sent to investors on Thursday, BayStreet.CA reports.

A number of other equities analysts have also recently commented on the stock. GMP Securities reiterated a buy rating and issued a $22.25 target price on shares of SPDR Wells Fargo Preferred Stock ETF in a research report on Friday, June 28th. TD Securities lowered shares of Tricon Capital Group from an action list buy rating to a buy rating and cut their price target for the stock from C$14.50 to C$13.50 in a report on Thursday, May 9th. BMO Capital Markets reissued a hold rating and issued a $9.50 price target on shares of Vicon Industries in a report on Friday, June 14th. National Bank Financial cut their price target on shares of Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating on the stock in a report on Tuesday, June 25th. Finally, Raymond James reissued an outperform rating and issued a $36.00 price target on shares of Zymeworks in a report on Thursday, May 30th.

Shares of TSE:TOU opened at C$17.20 on Thursday. The stock has a market cap of $4.68 billion and a PE ratio of 13.03. The stock has a fifty day simple moving average of C$16.69. Tourmaline Oil has a 52 week low of C$15.39 and a 52 week high of C$25.79. The company has a debt-to-equity ratio of 19.37, a quick ratio of 0.50 and a current ratio of 0.53.

Tourmaline Oil (TSE:TOU) last issued its earnings results on Wednesday, May 8th. The company reported C$0.32 EPS for the quarter. The business had revenue of C$664.30 million during the quarter. On average, equities research analysts predict that Tourmaline Oil will post 1.1399999 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 28th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Thursday, June 13th. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.10. Tourmaline Oil’s dividend payout ratio (DPR) is 36.36%.

In related news, Senior Officer Mike Rose bought 2,500 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were purchased at an average price of C$16.31 per share, with a total value of C$40,763.00. Following the purchase, the insider now owns 10,545,970 shares of the company’s stock, valued at approximately C$171,954,150.04. Also, Director Lucille Miller bought 1,467 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were bought at an average cost of C$17.73 per share, for a total transaction of C$26,002.58. Following the purchase, the director now directly owns 8,267 shares in the company, valued at approximately C$146,532.58. In the last three months, insiders acquired 21,467 shares of company stock worth $374,362.

Tourmaline Oil Company Profile

Tourmaline Oil Corp., together with its subsidiaries, engages in the acquisition, exploration, development, and production of oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, NEBC Montney, and the Peace River High Triassic oil complex.

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