Tourmaline Oil (TSE:TOU) Price Target Lowered to C$72.00 at Raymond James Financial

Tourmaline Oil (TSE:TOU) had its price target decreased by Raymond James Financial from C$74.00 to C$72.00 in a research report report published on Thursday,BayStreet.CA reports.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group raised Tourmaline Oil to a “strong-buy” rating in a research report on Monday, October 13th. CIBC lowered their price objective on shares of Tourmaline Oil from C$74.00 to C$71.00 in a report on Wednesday, October 15th. Capital One Financial raised shares of Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 27th. Scotiabank decreased their target price on shares of Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Finally, TD Securities lowered shares of Tourmaline Oil from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$73.00 to C$68.00 in a report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Tourmaline Oil currently has a consensus rating of “Moderate Buy” and an average target price of C$74.10.

Tourmaline Oil Stock Performance

Shares of Tourmaline Oil stock opened at C$59.95 on Thursday. The business has a 50-day simple moving average of C$60.57 and a 200 day simple moving average of C$61.61. Tourmaline Oil has a one year low of C$55.40 and a one year high of C$70.83. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. The firm has a market capitalization of C$23.19 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 1.72 and a beta of 0.29.

Tourmaline Oil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, September 15th. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.35. Tourmaline Oil’s dividend payout ratio (DPR) is presently 42.29%.

Insider Activity at Tourmaline Oil

In other Tourmaline Oil news, Director Christopher Lee acquired 17,000 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were acquired at an average price of C$58.30 per share, with a total value of C$991,045.60. Following the completion of the transaction, the director owned 17,000 shares in the company, valued at approximately C$991,045.60. This trade represents a ∞ increase in their ownership of the stock. Also, insider Mike Rose bought 10,000 shares of the firm’s stock in a transaction dated Friday, October 10th. The shares were acquired at an average cost of C$60.42 per share, with a total value of C$604,200.00. Following the completion of the transaction, the insider owned 8,187,742 shares in the company, valued at approximately C$494,703,371.64. The trade was a 0.12% increase in their ownership of the stock. Over the last ninety days, insiders bought 32,000 shares of company stock valued at $1,901,174. 5.13% of the stock is currently owned by corporate insiders.

Tourmaline Oil Company Profile

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.