Tourmaline Oil (TSE:TOU) Price Target Lowered to C$71.00 at UBS Group

Tourmaline Oil (TSE:TOU) had its target price cut by UBS Group from C$74.00 to C$71.00 in a report released on Thursday morning,BayStreet.CA reports.

Other equities research analysts have also issued research reports about the company. National Bankshares boosted their target price on Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Cormark upgraded Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research report on Friday, March 7th. CIBC cut their target price on shares of Tourmaline Oil from C$80.00 to C$72.50 in a report on Thursday, April 10th. Raymond James set a C$78.00 price target on shares of Tourmaline Oil and gave the company an “outperform” rating in a report on Tuesday, April 8th. Finally, Desjardins increased their price target on shares of Tourmaline Oil from C$74.00 to C$76.00 and gave the company a “hold” rating in a research report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Tourmaline Oil presently has an average rating of “Moderate Buy” and a consensus target price of C$77.05.

Tourmaline Oil Price Performance

TOU stock opened at C$62.59 on Thursday. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01. The firm has a market cap of C$23.32 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.72 and a beta of 1.30. The firm’s fifty day moving average is C$65.35 and its 200 day moving average is C$65.23. Tourmaline Oil has a 52 week low of C$55.27 and a 52 week high of C$70.83.

Tourmaline Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.50 per share. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.20%. Tourmaline Oil’s payout ratio is presently 31.61%.

Insider Buying and Selling

In other news, Senior Officer Mike Rose acquired 2,500 shares of the stock in a transaction on Friday, March 14th. The stock was acquired at an average price of C$64.25 per share, with a total value of C$160,612.50. Also, Director Jill Terilee Angevine purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average price of C$66.63 per share, with a total value of C$66,630.00. Insiders purchased a total of 11,000 shares of company stock valued at $717,260 over the last three months. Corporate insiders own 5.13% of the company’s stock.

Tourmaline Oil Company Profile

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.