Tourmaline Oil (TSE:TOU) Price Target Raised to C$80.00 at CIBC

Tourmaline Oil (TSE:TOU) had its price objective boosted by CIBC from C$77.50 to C$80.00 in a research note issued to investors on Thursday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Several other research analysts have also recently weighed in on the company. TD Securities lowered 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 cut their target price on Tourmaline Oil from C$85.00 to C$80.00 and set an outperform rating for the company in a research note on Wednesday, March 20th. Jefferies Financial Group boosted their price target on shares of Tourmaline Oil from C$70.00 to C$75.00 and gave the company a buy rating in a research report on Friday, April 12th. Scotiabank cut their price objective on shares of Tourmaline Oil from C$100.00 to C$90.00 and set an outperform rating for the company in a research report on Tuesday, January 16th. Finally, Stifel Nicolaus boosted their target price on shares of Tourmaline Oil from C$75.00 to C$80.00 and gave the company a buy rating in a report on Tuesday, April 23rd. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tourmaline Oil presently has an average rating of Buy and a consensus target price of C$78.38.

Tourmaline Oil Trading Down 0.8 %

Shares of TOU stock opened at C$64.78 on Thursday. Tourmaline Oil has a fifty-two week low of C$53.45 and a fifty-two 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 stock’s fifty day moving average is C$63.47 and its two-hundred day moving average is C$63.02. The firm has a market capitalization of C$22.77 billion, a P/E ratio of 12.88, 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 EPS for the quarter, beating analysts’ consensus estimates of C$1.41 by C$0.59. The business had revenue of C$1.66 billion during the quarter, compared to analysts’ expectations of C$1.49 billion. Tourmaline Oil had a net margin of 35.87% and a return on equity of 12.53%. 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 announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 16th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.98%. 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. Tourmaline Oil’s dividend payout ratio (DPR) is 23.86%.

Insider Buying and Selling at Tourmaline Oil

In other news, Senior Officer Mike Rose purchased 5,000 shares of the stock in a transaction dated Monday, February 5th. The stock was acquired at an average cost of C$55.41 per share, for a total transaction of C$277,025.00. Insiders have bought a total of 17,630 shares of company stock valued at $1,067,135 over the last quarter. 5.19% of the stock is owned by company insiders.

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.