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

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

Several other research analysts have also weighed in on the company. TD Securities lowered their price target on Tourmaline Oil from C$75.00 to C$72.00 and set a buy rating on the stock in a research report on Thursday, March 7th. Scotiabank lowered their target price on shares of 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 dropped their price target 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. Stifel Nicolaus lifted their price objective 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. Finally, National Bankshares lowered their price objective on shares of Tourmaline Oil from C$80.00 to C$70.00 and set an outperform rating on the stock in a research note on Wednesday, January 10th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Buy and a consensus target price of C$78.38.

Tourmaline Oil Stock Down 0.8 %

Tourmaline Oil stock opened at C$64.78 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.47 and a debt-to-equity ratio of 8.04. Tourmaline Oil has a 1-year low of C$53.45 and a 1-year high of C$74.21. The company has a fifty day simple moving average of C$63.47 and a 200 day simple moving average of C$63.02. The company has a market cap of C$22.77 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 1.72 and a beta of 1.40.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings data on Wednesday, March 6th. The company reported C$2.00 earnings per share for the quarter, beating the consensus estimate of C$1.41 by C$0.59. The company had revenue of C$1.66 billion during the quarter, compared to analysts’ expectations of C$1.49 billion. Tourmaline Oil had a return on equity of 12.53% and a net margin of 35.87%. Research analysts anticipate 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. Investors of record on Thursday, May 16th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.28 dividend on an annualized basis and a yield of 1.98%. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.30. Tourmaline Oil’s dividend payout ratio is 23.86%.

Insiders Place Their Bets

In other news, Senior Officer Mike Rose bought 2,500 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were bought at an average price of C$59.42 per share, with a total value of C$148,543.00. Insiders purchased 17,630 shares of company stock worth $1,067,135 over the last three months. 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.