Tourmaline Oil (TSE:TOU) Price Target Lowered to C$80.00 at ATB Capital

Tourmaline Oil (TSE:TOU) had its target price decreased by ATB Capital from C$85.00 to C$80.00 in a research note published on Wednesday morning, BayStreet.CA reports. ATB Capital currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the stock. TD Securities dropped their price target on shares of 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. CIBC dropped their price target on shares of Tourmaline Oil from C$82.50 to C$72.50 and set an outperform rating on the stock in a research report on Tuesday, January 16th. Jefferies Financial Group set a C$70.00 price target on shares of Tourmaline Oil and gave the company a buy rating in a research report on Tuesday, February 27th. BMO Capital Markets dropped their price target on shares of Tourmaline Oil from C$82.00 to C$78.00 in a research report on Tuesday, December 12th. Finally, Desjardins dropped their price target on shares of Tourmaline Oil from C$85.00 to C$76.00 and set a buy rating on the stock in a research report on Tuesday, January 23rd. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of C$77.65.

Tourmaline Oil Trading Down 0.9 %

TSE:TOU opened at C$59.63 on Wednesday. Tourmaline Oil has a 12 month low of C$52.85 and a 12 month high of C$74.21. The firm has a market cap of C$20.96 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 1.72 and a beta of 1.40. The company has a quick ratio of 0.47, a current ratio of 0.81 and a debt-to-equity ratio of 8.04. The company’s 50 day moving average is C$58.86 and its 200-day moving average is C$63.75.

Tourmaline Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be paid a $0.30 dividend. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.01%. Tourmaline Oil’s dividend payout ratio (DPR) is presently 23.86%.

Insider Transactions at Tourmaline Oil

In other Tourmaline Oil news, Director Janet Weiss purchased 650 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were purchased at an average price of C$43.66 per share, for a total transaction of C$28,376.40. In other Tourmaline Oil news, Director Janet Weiss purchased 650 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were purchased at an average price of C$43.66 per share, for a total transaction of C$28,376.40. Also, Director Jill Terilee Angevine purchased 1,500 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were acquired at an average price of C$56.48 per share, for a total transaction of C$84,720.00. Over the last quarter, insiders have purchased 20,180 shares of company stock worth $1,171,702. 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.