Desjardins Cuts Tourmaline Oil (TSE:TOU) Price Target to C$74.00

Tourmaline Oil (TSE:TOU) had its price objective reduced by Desjardins from C$75.00 to C$74.00 in a research note released on Tuesday, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on TOU. National Bankshares dropped their price objective on Tourmaline Oil from C$80.00 to C$70.00 and set an outperform rating for the company in a report on Wednesday, January 10th. Jefferies Financial Group raised their price objective on Tourmaline Oil from C$70.00 to C$75.00 and gave the company a buy rating in a research note on Friday, April 12th. CIBC boosted their target price on Tourmaline Oil from C$72.50 to C$77.51 and gave the stock an outperform rating in a research note on Monday. TD Securities dropped their target price on shares of Tourmaline Oil from C$75.00 to C$72.00 and set a buy rating for the company in a report on Thursday, March 7th. Finally, Scotiabank decreased their price target on shares of Tourmaline Oil from C$100.00 to C$90.00 and set an outperform rating on the stock in a 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 company. Based on data from MarketBeat.com, Tourmaline Oil currently has an average rating of Buy and an average target price of C$78.08.

Tourmaline Oil Stock Performance

Shares of TSE TOU opened at C$66.16 on Tuesday. The company has a debt-to-equity ratio of 8.04, a current ratio of 0.81 and a quick ratio of 0.47. The firm has a market cap of C$23.25 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 1.72 and a beta of 1.40. The stock’s fifty day moving average price is C$61.98 and its two-hundred day moving average price is C$63.08. Tourmaline Oil has a one year low of C$53.45 and a one year high of C$74.21.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of C$1.49 billion. On average, equities analysts forecast that Tourmaline Oil will post 4.710507 EPS for the current year.

Tourmaline Oil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Thursday, March 14th. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.28. Tourmaline Oil’s payout ratio is 23.86%.

Insider Buying and Selling

In related news, Director Janet Weiss bought 650 shares of the business’s stock in a transaction on Friday, January 26th. The shares were purchased at an average cost of C$43.66 per share, with a total value of C$28,376.40. In related news, Director Janet Weiss purchased 650 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was bought at an average price of C$43.66 per share, with a total value of C$28,376.40. Also, Senior Officer Mike Rose acquired 2,500 shares of the stock in a transaction dated Friday, March 22nd. The shares were bought at an average price of C$59.42 per share, with a total value of C$148,543.00. Insiders have acquired a total of 13,680 shares of company stock valued at $795,961 over the last 90 days. 5.19% of the stock is owned by insiders.

Tourmaline Oil Company Profile

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.