Tourmaline Oil (TSE:TOU) Price Target Raised to C$66.00

Tourmaline Oil (TSE:TOU) had its target price raised by TD from C$65.00 to C$66.00 in a report issued on Wednesday morning,BayStreet.CA reports. The brokerage currently has a hold rating on the stock.

Other analysts have also issued reports about the stock. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. BMO Capital Markets downgraded shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and increased their price objective for the company from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Desjardins set a C$68.00 target price on shares of Tourmaline Oil and gave the stock a “hold” rating in a report on Friday, July 17th. Finally, Canaccord Genuity Group downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 target price for the company. in a research report on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$70.36.

Tourmaline Oil Trading Up 0.4%

Tourmaline Oil stock opened at C$65.16 on Wednesday. Tourmaline Oil has a one year low of C$56.72 and a one year high of C$70.57. The business’s fifty day moving average is C$62.69 and its 200 day moving average is C$63.05. The stock has a market capitalization of C$25.30 billion, a PE ratio of 36.00, a price-to-earnings-growth 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 issued its earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share for the quarter. The business had revenue of C$1.78 billion during the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%. On average, sell-side analysts predict that Tourmaline Oil will post 5.6809091 EPS for the current year.

Tourmaline Oil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Monday, June 15th. Tourmaline Oil’s payout ratio is currently 110.50%.

Insider Transactions at Tourmaline Oil

In other Tourmaline Oil news, Director Jill Terilee Angevine acquired 766 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were 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 acquisition, the director owned 71,766 shares in the company, valued at C$4,234,194. This represents a 1.08% increase in their position. Also, insider Mike Rose bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were acquired at an average price of C$59.84 per share, with a total value of C$149,600.00. Following the completion of the transaction, the insider directly owned 8,115,178 shares of the company’s stock, valued at C$485,612,251.52. This trade represents a 0.03% increase in their position. In the last quarter, insiders have acquired 39,266 shares of company stock valued at $2,463,574. 5.13% of the stock is owned by company insiders.

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.