Tourmaline Oil (TSE:TOU) Given New C$77.51 Price Target at CIBC

Tourmaline Oil (TSE:TOU) had its target price increased by CIBC from C$72.50 to C$77.51 in a report released on Monday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other analysts have also commented on the company. Scotiabank decreased their price objective on Tourmaline Oil from C$100.00 to C$90.00 and set an outperform rating for the company in a report on Tuesday, January 16th. Jefferies Financial Group upped 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 note on Friday, April 12th. Desjardins dropped their price target on shares of Tourmaline Oil from C$76.00 to C$75.00 and set a buy rating on the stock in a research report on Friday, March 22nd. Raymond James cut their price target on shares of Tourmaline Oil from C$90.00 to C$85.00 and set a strong-buy rating on the stock in a report on Friday, January 19th. Finally, National Bankshares decreased their price objective on shares of Tourmaline Oil from C$80.00 to C$70.00 and set an outperform rating for the company in a research note on Wednesday, January 10th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of C$78.08.

Tourmaline Oil Price Performance

Shares of TSE:TOU opened at C$66.22 on Monday. Tourmaline Oil has a twelve month low of C$53.45 and a twelve month high of C$74.21. The stock’s 50 day moving average is C$61.98 and its 200-day moving average is C$63.08. The company has a quick ratio of 0.47, a current ratio of 0.81 and a debt-to-equity ratio of 8.04. The firm has a market capitalization of C$23.27 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.72 and a beta of 1.40.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 EPS 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 analyst estimates of C$1.49 billion. Tourmaline Oil had a net margin of 35.87% and a return on equity of 12.53%. Sell-side analysts forecast that Tourmaline Oil will post 4.710507 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

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

Insider Buying and Selling

In other news, Senior Officer Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction on Monday, February 5th. The stock was acquired at an average cost of C$55.41 per share, with a total value of C$277,025.00. In other Tourmaline Oil news, Senior Officer Mike Rose acquired 5,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were acquired at an average cost of C$55.41 per share, with a total value of C$277,025.00. Also, Director Janet Weiss bought 650 shares of the business’s stock in a transaction on Friday, January 26th. The shares were acquired at an average price of C$43.66 per share, with a total value of C$28,376.40. In the last quarter, insiders have purchased 13,280 shares of company stock valued at $772,253. 5.19% of the stock is 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.