Tourmaline Oil (TSE:TOU) Given New C$75.00 Price Target at Jefferies Financial Group

Tourmaline Oil (TSE:TOU) had its target price boosted by Jefferies Financial Group from C$70.00 to C$75.00 in a report published on Friday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities research analysts have also commented on TOU. Raymond James cut their target price on Tourmaline Oil from C$90.00 to C$85.00 and set a strong-buy rating on the stock in a research report on Friday, January 19th. TD Securities cut their target price 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. CIBC cut their target price on 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. ATB Capital cut their target price on 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. Finally, Desjardins cut their target price on Tourmaline Oil from C$76.00 to C$75.00 and set a buy rating on the stock in a research report on Friday, March 22nd. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of C$77.81.

Tourmaline Oil Trading Down 1.4 %

TSE TOU opened at C$64.71 on Friday. The business’s 50-day moving average price is C$60.83 and its two-hundred day moving average price is C$63.15. Tourmaline Oil has a 12 month low of C$53.45 and a 12 month high of C$74.21. The firm has a market capitalization of C$22.74 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.72 and a beta of 1.40. 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 (TSE:TOU) last released its quarterly 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. Tourmaline Oil had a return on equity of 12.53% and a net margin of 35.87%. The firm had revenue of C$1.66 billion for the quarter, compared to analyst estimates of C$1.49 billion. On average, analysts expect that Tourmaline Oil will post 4.710507 EPS for the current year.

Tourmaline Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.30 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 1.85%. Tourmaline Oil’s dividend payout ratio is 23.86%.

Insider Transactions at Tourmaline Oil

In related news, Director Janet Weiss acquired 650 shares of the stock in a transaction dated Friday, January 26th. The stock was purchased at an average cost of C$43.66 per share, with a total value of C$28,376.40. In related news, Senior Officer Mike Rose acquired 5,000 shares of the stock in a transaction dated Wednesday, January 17th. The stock was purchased at an average cost of C$58.20 per share, with a total value of C$291,021.00. Also, Director Janet Weiss purchased 650 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were acquired at an average cost of C$43.66 per share, with a total value of C$28,376.40. Insiders purchased a total of 20,180 shares of company stock valued at $1,171,702 over the last ninety days. 5.19% of the stock is currently owned by 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.