Tourmaline Oil (TSE:TOU) Price Target Raised to C$73.50 at Canaccord Genuity Group

Tourmaline Oil (TSE:TOU) had its target price increased by Canaccord Genuity Group from C$72.50 to C$73.50 in a research report sent to investors on Thursday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on the stock. ATB Capital lowered their target price on shares of Tourmaline Oil from C$85.00 to C$80.00 and set an outperform rating on the stock in a research report on Wednesday, March 20th. Desjardins lowered their price objective on Tourmaline Oil from C$75.00 to C$74.00 and set a buy rating on the stock in a report on Tuesday, April 23rd. TD Securities cut their price objective 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. Jefferies Financial Group upped their target price on Tourmaline Oil from C$70.00 to C$75.00 and gave the stock a buy rating in a research report on Friday, April 12th. Finally, Stifel Nicolaus lifted their price target on shares of Tourmaline Oil from C$75.00 to C$80.00 and gave the company a buy rating in a research report on Tuesday, April 23rd. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tourmaline Oil presently has an average rating of Buy and an average target price of C$78.38.

Tourmaline Oil Stock Down 0.8 %

Shares of Tourmaline Oil stock opened at C$64.78 on Thursday. The firm has a market cap of C$22.77 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 1.72 and a beta of 1.40. The stock has a 50-day simple moving average of C$63.47 and a 200-day simple moving average of C$63.02. 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 current ratio of 0.81 and a quick ratio of 0.47.

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

Tourmaline Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 16th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a yield of 1.98%. Tourmaline Oil’s dividend payout ratio is 23.86%.

Insiders Place Their Bets

In related news, Senior Officer Mike Rose acquired 5,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was acquired at an average price of C$62.25 per share, with a total value of C$311,259.00. Insiders have purchased 17,630 shares of company stock worth $1,067,135 in the last ninety days. 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.