Jefferies Financial Group Cuts Tourmaline Oil (TSE:TOU) Price Target to C$70.00

Tourmaline Oil (TSE:TOU) had its price objective cut by Jefferies Financial Group from C$72.00 to C$70.00 in a research note issued to investors on Tuesday,BayStreet.CA reports.

A number of other research analysts have also weighed in on TOU. Capital One Financial raised shares of Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 27th. CIBC dropped their price target on shares of Tourmaline Oil from C$71.00 to C$66.00 in a research report on Tuesday, January 13th. Scotiabank cut their price target on Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. The Goldman Sachs Group raised Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 13th. Finally, Desjardins raised Tourmaline Oil from a “hold” rating to a “buy” rating and set a C$68.00 target price on the stock in a research report on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Tourmaline Oil currently has an average rating of “Buy” and an average price target of C$71.33.

Tourmaline Oil Stock Down 0.5%

Shares of TSE:TOU opened at C$61.55 on Tuesday. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01. Tourmaline Oil has a 52-week low of C$55.40 and a 52-week high of C$70.83. The business’s 50 day simple moving average is C$61.47 and its two-hundred day simple moving average is C$60.69. The firm has a market cap of C$23.82 billion, a P/E ratio of 17.59, a PEG ratio of 1.72 and a beta of -0.03.

Tourmaline Oil (TSE:TOU) last issued its earnings results on Wednesday, November 5th. The company reported C$0.49 earnings per share for the quarter. Tourmaline Oil had a return on equity of 11.08% and a net margin of 28.53%.The company had revenue of C$1.40 billion for the quarter. As a group, research analysts forecast that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.50 per share. The ex-dividend date was Monday, December 15th. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. Tourmaline Oil’s dividend payout ratio is presently 52.86%.

Insiders Place Their Bets

In other news, insider Mike Rose acquired 2,500 shares of the stock in a transaction that occurred on Wednesday, January 14th. The shares were acquired at an average cost of C$58.72 per share, for a total transaction of C$146,800.00. Following the purchase, the insider owned 8,032,678 shares of the company’s stock, valued at approximately C$471,678,852.16. The trade was a 0.03% increase in their position. 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.