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

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

A number of other research analysts have also issued reports on the company. National Bankshares reduced their price objective on 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. Jefferies Financial Group lifted their target price on Tourmaline Oil from C$70.00 to C$75.00 and gave the company a buy rating in a research note on Friday, April 12th. Raymond James cut their target price on Tourmaline Oil from C$90.00 to C$85.00 and set a strong-buy rating on the stock in a research note on Friday, January 19th. BMO Capital Markets cut their target price on Tourmaline Oil from C$78.00 to C$75.00 in a research note on Thursday, March 28th. Finally, TD Securities cut their target price on Tourmaline Oil from C$75.00 to C$72.00 and set a buy rating on the stock in a research note on Thursday, March 7th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of Buy and an average target price of C$78.08.

Tourmaline Oil Price Performance

Shares of TOU opened at C$68.18 on Tuesday. The firm has a market cap 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 stock has a 50 day moving average of C$62.23 and a 200-day moving average of C$63.10. The company has a current ratio of 0.81, a quick ratio of 0.47 and a debt-to-equity ratio of 8.04. Tourmaline Oil has a 52 week low of C$53.45 and a 52 week high of C$74.21.

Tourmaline Oil (TSE:TOU) last issued its earnings results on Wednesday, March 6th. The company reported C$2.00 EPS for the quarter, topping the consensus estimate of C$1.41 by C$0.59. The company had revenue of C$1.66 billion during the quarter, compared to analyst estimates of C$1.49 billion. Tourmaline Oil had a return on equity of 12.53% and a net margin of 35.87%. As a group, analysts forecast that Tourmaline Oil will post 4.710507 EPS for the current year.

Tourmaline Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Thursday, March 14th. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.28. Tourmaline Oil’s payout ratio is currently 23.86%.

Insider Transactions at Tourmaline Oil

In other news, Senior Officer Mike Rose acquired 5,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were bought at an average price of C$62.25 per share, with a total value of C$311,259.00. In the last 90 days, insiders have bought 12,630 shares of company stock valued at $743,877. Corporate insiders own 5.19% of the company’s stock.

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.