Tourmaline Oil (TSE:TOU) Price Target Raised to C$74.00

Tourmaline Oil (TSE:TOU) had its target price hoisted by Jefferies Financial Group from C$72.00 to C$74.00 in a report published on Friday morning,BayStreet.CA reports.

A number of other equities research analysts also recently weighed in on the company. Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a research report on Friday, June 26th. BMO Capital Markets lowered Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Canaccord Genuity Group cut Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective for the company. in a report on Thursday, May 7th. TD upped their target price on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Finally, Desjardins set a C$68.00 price target on shares of Tourmaline Oil and gave the stock a “hold” rating in a research report on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$70.36.

Tourmaline Oil Price Performance

Shares of Tourmaline Oil stock opened at C$65.16 on Friday. The firm has a market cap of C$25.30 billion, a P/E ratio of 36.00, a price-to-earnings-growth ratio of 1.72 and a beta of -0.27. The firm’s 50-day simple moving average is C$62.69 and its 200-day simple moving average is C$63.07. Tourmaline Oil has a twelve month low of C$56.72 and a twelve month high of C$70.57. The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, May 6th. The company reported C$1.69 EPS for the quarter. The firm had revenue of C$1.78 billion for the quarter. Tourmaline Oil had a net margin of 12.79% and a return on equity of 4.40%. As a group, research analysts expect that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, June 15th. This represents a $2.00 annualized dividend and a yield of 3.1%. Tourmaline Oil’s dividend payout ratio is presently 110.50%.

Insider Transactions at Tourmaline Oil

In related news, insider Mike Rose purchased 5,000 shares of Tourmaline Oil stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average cost of C$63.96 per share, with a total value of C$319,800.00. Following the completion of the transaction, the insider owned 8,095,178 shares of the company’s stock, valued at approximately C$517,767,584.88. This trade represents a 0.06% increase in their position. Also, insider Earl Henry Mckinnon sold 4,700 shares of the stock in a transaction that occurred on Friday, July 3rd. The shares were sold at an average price of C$60.35, for a total value of C$283,645.00. Following the completion of the sale, the insider directly owned 132,280 shares of the company’s stock, valued at approximately C$7,983,098. The trade was a 3.43% decrease in their position. Over the last 90 days, insiders have bought 39,266 shares of company stock valued at $2,463,574. Company insiders own 5.13% of the company’s stock.

Tourmaline Oil Company Profile

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.