Tourmaline Oil (TSE:TOU) Price Target Raised to C$75.00 at Jefferies Financial Group

Tourmaline Oil (TSE:TOU) had its price objective lifted by Jefferies Financial Group from C$70.00 to C$75.00 in a report released on Friday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other brokerages have also recently issued reports on TOU. Scotiabank reduced their target price on Tourmaline Oil from C$100.00 to C$90.00 and set an outperform rating on the stock in a report on Tuesday, January 16th. CIBC reduced their target price on Tourmaline Oil from C$82.50 to C$72.50 and set an outperform rating on the stock in a report on Tuesday, January 16th. TD Securities reduced their target price on Tourmaline Oil from C$75.00 to C$72.00 and set a buy rating on the stock in a report on Thursday, March 7th. ATB Capital reduced their price objective on Tourmaline Oil from C$85.00 to C$80.00 and set an outperform rating on the stock in a research note on Wednesday, March 20th. Finally, BMO Capital Markets reduced their price objective on Tourmaline Oil from C$78.00 to C$75.00 in a research note on Thursday, March 28th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tourmaline Oil has a consensus rating of Buy and an average price target of C$77.81.

Tourmaline Oil Price Performance

Shares of Tourmaline Oil stock opened at C$65.66 on Friday. Tourmaline Oil has a 52 week low of C$53.45 and a 52 week high of C$74.21. 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 stock’s 50-day simple moving average is C$60.62 and its 200-day simple moving average is C$63.26. The company has a market capitalization of C$23.08 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.72 and a beta of 1.40.

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

Tourmaline Oil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.28. Tourmaline Oil’s payout ratio is 23.86%.

Insider Buying and Selling at Tourmaline Oil

In other Tourmaline Oil news, Director Janet Weiss bought 650 shares of the company’s stock in a transaction on Friday, January 26th. The stock was acquired at an average price of C$43.66 per share, for a total transaction of C$28,376.40. In other news, Director Jill Terilee Angevine purchased 1,500 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was purchased at an average price of C$56.48 per share, for a total transaction of C$84,720.00. Also, Director Janet Weiss purchased 650 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was purchased at an average price of C$43.66 per share, with a total value of C$28,376.40. Insiders acquired 20,180 shares of company stock worth $1,171,702 over the last 90 days. Company insiders own 5.19% 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.