Tourmaline Oil (TSE:TOU) Price Target Raised to C$75.00

Tourmaline Oil (TSE:TOU) had its price objective lifted by National Bankshares from C$72.50 to C$75.00 in a report released on Thursday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other brokerages have also recently issued reports on TOU. UBS Group boosted their price objective on Tourmaline Oil from C$70.00 to C$73.00 in a research note on Monday, December 9th. Canaccord Genuity Group dropped their price target on shares of Tourmaline Oil from C$75.00 to C$74.00 in a research note on Tuesday, October 22nd. Jefferies Financial Group raised their price objective on shares of Tourmaline Oil from C$73.00 to C$76.00 in a report on Monday. TD Securities lowered their target price on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, Cormark raised Tourmaline Oil to a “hold” rating in a report on Monday, September 23rd. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tourmaline Oil currently has an average rating of “Moderate Buy” and an average target price of C$78.42.

Tourmaline Oil Stock Down 0.0 %

Tourmaline Oil stock opened at C$60.71 on Thursday. The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24. The company has a market capitalization of C$22.54 billion, a P/E ratio of 14.39, a P/E/G ratio of 1.72 and a beta of 1.30. The firm has a 50 day moving average price of C$63.93 and a 200-day moving average price of C$62.57. Tourmaline Oil has a twelve month low of C$53.45 and a twelve month high of C$69.25.

Tourmaline Oil (TSE:TOU) last released its earnings results on Wednesday, November 6th. The company reported C$1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.26 by C($0.26). Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. The firm had revenue of C$1.47 billion during the quarter, compared to analysts’ expectations of C$1.63 billion. As a group, equities analysts predict that Tourmaline Oil will post 5.6809091 EPS for the current year.

Tourmaline Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.35 dividend. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Monday, December 16th. Tourmaline Oil’s dividend payout ratio is currently 33.18%.

Insider Buying and Selling at Tourmaline Oil

In other news, Senior Officer Mike Rose purchased 2,500 shares of the stock in a transaction on Wednesday, October 9th. The shares were acquired at an average price of C$63.95 per share, for a total transaction of C$159,875.00. Also, Senior Officer William Scott Kirker sold 66,000 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of C$66.37, for a total value of C$4,380,274.80. Insiders have acquired a total of 15,000 shares of company stock valued at $935,943 in the last 90 days. Corporate insiders own 5.13% of the company’s stock.

Tourmaline Oil Company Profile

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.