Tourmaline Oil (TSE:TOU) Price Target Lowered to C$72.50 at Canaccord Genuity Group

Tourmaline Oil (TSE:TOU) had its price target decreased by Canaccord Genuity Group from C$75.00 to C$72.50 in a research report released on Wednesday, BayStreet.CA reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other brokerages also recently weighed in on TOU. TD Securities lowered their price target on shares of Tourmaline Oil from C$75.00 to C$72.00 and set a buy rating on the stock in a report on Thursday, March 7th. National Bankshares lowered their price target on shares of Tourmaline Oil from C$80.00 to C$70.00 and set an outperform rating on the stock in a report on Wednesday, January 10th. Desjardins reduced their price objective on shares of Tourmaline Oil from C$76.00 to C$75.00 and set a buy rating on the stock in a research report on Friday, March 22nd. Raymond James reduced their price objective on shares of Tourmaline Oil from C$90.00 to C$85.00 and set a strong-buy rating on the stock in a research report on Friday, January 19th. Finally, Scotiabank reduced their price objective on shares of Tourmaline Oil from C$100.00 to C$90.00 and set an outperform rating on the stock in a research report on Tuesday, January 16th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of C$77.38.

Tourmaline Oil Price Performance

Shares of TSE:TOU opened at C$65.24 on Wednesday. The company has a debt-to-equity ratio of 8.04, a current ratio of 0.81 and a quick ratio of 0.47. Tourmaline Oil has a 1-year low of C$53.45 and a 1-year high of C$74.21. The company has a market capitalization of C$22.93 billion, a P/E ratio of 12.97, a P/E/G ratio of 1.72 and a beta of 1.40. The firm’s 50 day simple moving average is C$61.22 and its two-hundred day simple moving average is C$63.14.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 earnings per share for the quarter, beating the consensus estimate of C$1.41 by C$0.59. Tourmaline Oil had a net margin of 35.87% and a return on equity of 12.53%. The business had revenue of C$1.66 billion for the quarter, compared to the consensus estimate of C$1.49 billion. Research analysts expect that Tourmaline Oil will post 4.710507 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.30 per share. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.84%. Tourmaline Oil’s payout ratio is 23.86%.

Insider Buying and Selling at Tourmaline Oil

In related news, Senior Officer Mike Rose bought 5,000 shares of the stock in a transaction dated Monday, February 5th. The stock was purchased at an average cost of C$55.41 per share, with a total value of C$277,025.00. In related news, Senior Officer Mike Rose bought 5,000 shares of the stock in a transaction dated Monday, February 5th. The stock was purchased at an average cost of C$55.41 per share, with a total value of C$277,025.00. Also, Director Janet Weiss bought 650 shares of the stock in a transaction dated Friday, January 26th. The shares were bought at an average cost of C$43.66 per share, with a total value of C$28,376.40. Insiders have bought 15,180 shares of company stock worth $880,681 over the last quarter. Insiders own 5.19% of the company’s stock.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.