Tourmaline Oil (TSE:TOU) Price Target Raised to C$77.51 at CIBC

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

Other research analysts also recently issued reports about the company. TD Securities reduced their price objective 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. BMO Capital Markets reduced their price objective on Tourmaline Oil from C$78.00 to C$75.00 in a report on Thursday, March 28th. Scotiabank reduced their price objective 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. 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 report on Wednesday, March 20th. Finally, Canaccord Genuity Group reduced their price objective on Tourmaline Oil from C$75.00 to C$72.50 and set a buy rating on the stock in a report on Wednesday, April 17th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus target price of C$78.00.

Tourmaline Oil Price Performance

Shares of TOU stock opened at C$65.70 on Monday. Tourmaline Oil has a 52-week low of C$53.45 and a 52-week high of C$74.21. The company has a debt-to-equity ratio of 8.04, a quick ratio of 0.47 and a current ratio of 0.81. The firm has a market capitalization of C$23.09 billion, a P/E ratio of 13.06, a P/E/G ratio of 1.72 and a beta of 1.40. The stock has a 50 day moving average price of C$61.75 and a 200 day moving average price of C$63.09.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of C$1.49 billion. As a group, sell-side analysts predict that Tourmaline Oil will post 4.710507 earnings per share for the current year.

Tourmaline Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.30 dividend. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.83%. Tourmaline Oil’s dividend payout ratio (DPR) is presently 23.86%.

Insider Transactions at Tourmaline Oil

In other news, Senior Officer Mike Rose purchased 5,000 shares of the stock in a transaction on Monday, February 5th. The stock was bought at an average price of C$55.41 per share, with a total value of C$277,025.00. In other news, Director Janet Weiss purchased 650 shares of the stock in a transaction on Friday, January 26th. The stock was bought at an average price of C$43.66 per share, with a total value of C$28,376.40. Also, Senior Officer Mike Rose purchased 5,000 shares of the stock in a transaction on Monday, February 5th. The shares were purchased at an average cost of C$55.41 per share, with a total value of C$277,025.00. Insiders acquired 13,680 shares of company stock valued at $795,961 in the last quarter. 5.19% of the stock is currently owned by corporate 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.