Desjardins Analysts Give Tourmaline Oil (TSE:TOU) a C$68.00 Price Target

Desjardins set a C$68.00 target price on Tourmaline Oil (TSE:TOU) in a report published on Friday morning, MarketBeat.com reports. The brokerage currently has a hold rating on the stock.

A number of other research analysts also recently issued reports on TOU. Canaccord Genuity Group downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective on the stock. in a research report on Thursday, May 7th. BMO Capital Markets cut shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and increased their target price for the company from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Finally, Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Tourmaline Oil currently has a consensus rating of “Moderate Buy” and a consensus price target of C$70.40.

Tourmaline Oil Price Performance

Shares of TOU stock opened at C$62.49 on Friday. Tourmaline Oil has a 1-year low of C$56.72 and a 1-year high of C$70.57. The stock’s 50-day moving average is C$62.90 and its 200 day moving average is C$62.97. The company has a market cap of C$24.27 billion, a P/E ratio of 34.52, a PEG ratio of 1.72 and a beta of -0.27. The company has a debt-to-equity ratio of 7.14, a current ratio of 0.88 and a quick ratio of 0.47.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, May 6th. The company reported C$1.69 EPS for the quarter. The business had revenue of C$1.78 billion during the quarter. Tourmaline Oil had a net margin of 12.79% and a return on equity of 4.40%. Research analysts predict that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Monday, June 15th. Tourmaline Oil’s dividend payout ratio (DPR) is currently 110.50%.

Insiders Place Their Bets

In related news, insider James William Alexander Heard acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was purchased at an average cost of C$58.88 per share, with a total value of C$58,880.00. Following the transaction, the insider directly owned 67,476 shares of the company’s stock, valued at C$3,972,986.88. This trade represents a 1.50% increase in their position. Also, Director Jill Terilee Angevine bought 766 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was bought at an average price of C$59.00 per share, with a total value of C$45,194.00. Following the completion of the purchase, the director directly owned 71,766 shares in the company, valued at C$4,234,194. This represents a 1.08% increase in their ownership of the stock. Insiders have acquired a total of 44,266 shares of company stock worth $2,760,824 over the last ninety days. Insiders own 5.13% of the company’s stock.

About Tourmaline Oil

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.