Tourmaline Oil (TSE:TOU) Given New C$74.00 Price Target at Desjardins

Tourmaline Oil (TSE:TOU) had its price target trimmed by Desjardins from C$75.00 to C$74.00 in a report published on Tuesday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently issued reports on the company. Canaccord Genuity Group reduced their price objective on Tourmaline Oil from C$75.00 to C$72.50 and set a buy rating on the stock in a research note on Wednesday, April 17th. Raymond James reduced their price objective on Tourmaline Oil from C$90.00 to C$85.00 and set a strong-buy rating on the stock in a research note on Friday, January 19th. National Bankshares cut their price target on 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. BMO Capital Markets cut their price target on Tourmaline Oil from C$78.00 to C$75.00 in a research note on Thursday, March 28th. Finally, CIBC raised their price target on Tourmaline Oil from C$72.50 to C$77.51 and gave the company an outperform rating in a research note on Monday, April 22nd. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of C$78.08.

Tourmaline Oil Price Performance

TSE:TOU opened at C$67.76 on Tuesday. Tourmaline Oil has a 12 month low of C$53.45 and a 12 month high of C$74.21. The stock has a 50 day moving average of C$62.46 and a two-hundred day moving average of C$63.14. The company has a current ratio of 0.81, a quick ratio of 0.47 and a debt-to-equity ratio of 8.04. The firm has a market cap of C$23.82 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 1.72 and a beta of 1.40.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.41 by C$0.59. The business had revenue of C$1.66 billion during the quarter, compared to analyst estimates of C$1.49 billion. Tourmaline Oil had a return on equity of 12.53% and a net margin of 35.87%. On average, analysts expect that Tourmaline Oil will post 4.710507 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.30 dividend. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Thursday, March 14th. Tourmaline Oil’s payout ratio is presently 23.86%.

Insiders Place Their Bets

In related news, Senior Officer Mike Rose acquired 2,500 shares of the stock in a transaction dated Friday, March 22nd. The stock was bought at an average cost of C$59.42 per share, with a total value of C$148,543.00. In the last three months, insiders bought 12,630 shares of company stock valued at $743,877. Company insiders own 5.19% of the company’s stock.

About Tourmaline Oil

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.