Brokerages Set Tourmaline Oil Corp. (TSE:TOU) Target Price at C$70.58

Shares of Tourmaline Oil Corp. (TSE:TOUGet Rating) have been given an average rating of “Buy” by the fifteen brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is C$70.58.

A number of analysts have issued reports on the stock. CIBC lifted their target price on shares of Tourmaline Oil from C$65.00 to C$75.00 in a research note on Thursday, April 14th. TD Securities lowered shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$80.00 price target on the stock. in a research report on Friday. Raymond James lifted their price target on shares of Tourmaline Oil from C$80.00 to C$85.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 5th. Scotiabank lifted their price target on shares of Tourmaline Oil from C$77.00 to C$87.00 in a research report on Tuesday, March 8th. Finally, National Bankshares dropped their price target on shares of Tourmaline Oil from C$75.00 to C$62.50 in a research report on Thursday, April 14th.

In other Tourmaline Oil news, Senior Officer Drew E. Tumbach sold 11,479 shares of Tourmaline Oil stock in a transaction on Friday, April 8th. The shares were sold at an average price of C$60.05, for a total transaction of C$689,313.95. Following the sale, the insider now owns 773,482 shares in the company, valued at C$46,447,594.10. Also, Senior Officer Mike Rose purchased 5,000 shares of the firm’s stock in a transaction on Monday, March 14th. The shares were acquired at an average price of C$48.23 per share, for a total transaction of C$241,154.00. Following the purchase, the insider now directly owns 8,744,973 shares of the company’s stock, valued at C$421,777,043.77. Insiders have purchased 20,342 shares of company stock worth $1,294,256 in the last ninety days.

TSE TOU opened at C$76.71 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 5.45. The stock has a market capitalization of C$25.69 billion and a PE ratio of 12.29. The company has a 50 day moving average price of C$67.26 and a two-hundred day moving average price of C$53.20. Tourmaline Oil has a 12-month low of C$29.25 and a 12-month high of C$80.66.

Tourmaline Oil (TSE:TOUGet Rating) last posted its earnings results on Wednesday, May 4th. The company reported C$0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$2.01 by C($1.24). The business had revenue of C$1.10 billion for the quarter. As a group, equities analysts anticipate that Tourmaline Oil will post 9.3699992 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 30th will be given a dividend of $0.225 per share. The ex-dividend date is Tuesday, June 14th. This represents a $0.90 dividend on an annualized basis and a yield of 1.17%. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.20. Tourmaline Oil’s payout ratio is 14.42%.

Tourmaline Oil Company Profile (Get Rating)

Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. The company was incorporated in 2008 and is headquartered in Calgary, Canada.

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