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

Tourmaline Oil (TSE:TOU) had its price objective lowered by Canaccord Genuity Group from C$75.00 to C$72.50 in a research note issued to investors on Wednesday morning, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also commented on the stock. ATB Capital cut their target price on shares of Tourmaline Oil from C$85.00 to C$80.00 and set an outperform rating for the company in a research note on Wednesday, March 20th. Desjardins reduced their price target on shares of Tourmaline Oil from C$76.00 to C$75.00 and set a buy rating for the company in a research report on Friday, March 22nd. Jefferies Financial Group upped their price target on shares of Tourmaline Oil from C$70.00 to C$75.00 and gave the company a buy rating in a research report on Friday, April 12th. National Bankshares reduced 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, Scotiabank reduced their price target on shares of Tourmaline Oil from C$100.00 to C$90.00 and set an outperform rating for the company in a research report on Tuesday, January 16th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tourmaline Oil presently has an average rating of Buy and a consensus price target of C$77.38.

Tourmaline Oil Stock Up 1.6 %

TOU stock opened at C$65.12 on Wednesday. Tourmaline Oil has a 12 month low of C$53.45 and a 12 month high of C$74.21. The firm has a market cap of C$22.89 billion, a PE ratio of 12.95, a P/E/G ratio of 1.72 and a beta of 1.40. The firm has a 50 day simple moving average of C$61.55 and a 200 day simple moving average of C$63.14. 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 released its earnings results on Wednesday, March 6th. The company reported C$2.00 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of C$1.49 billion. Equities research analysts forecast 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 paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.84%. The ex-dividend date was Thursday, March 14th. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.28. Tourmaline Oil’s dividend payout ratio is currently 23.86%.

Insider Buying and Selling at Tourmaline Oil

In related news, Senior Officer Mike Rose acquired 5,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were purchased at an average price of C$55.41 per share, for a total transaction of C$277,025.00. In related news, Senior Officer Mike Rose acquired 5,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were purchased at an average price of C$55.41 per share, for a total transaction of C$277,025.00. Also, Director Janet Weiss acquired 650 shares of the company’s stock in a transaction on Friday, January 26th. The stock was bought at an average price of C$43.66 per share, for a total transaction of C$28,376.40. In the last quarter, insiders have purchased 15,180 shares of company stock worth $880,681. 5.19% of the stock is currently owned by company insiders.

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.