Tourmaline Oil (TSE:TOU) Price Target Raised to C$80.00

Tourmaline Oil (TSE:TOU) had its target price hoisted by CIBC from C$77.50 to C$80.00 in a research note issued to investors on Thursday, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the company. ATB Capital decreased their target price on Tourmaline Oil from C$85.00 to C$80.00 and set an outperform rating for the company in a research report on Wednesday, March 20th. Stifel Nicolaus raised their target price on shares of Tourmaline Oil from C$75.00 to C$80.00 and gave the stock a buy rating in a research report on Tuesday, April 23rd. Raymond James cut their target price on shares of Tourmaline Oil from C$90.00 to C$85.00 and set a strong-buy rating on the stock in a report on Friday, January 19th. National Bankshares decreased their price target on shares of Tourmaline Oil from C$80.00 to C$70.00 and set an outperform rating for the company in a research note on Wednesday, January 10th. Finally, Jefferies Financial Group lifted their price objective on shares of 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. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tourmaline Oil presently has a consensus rating of Buy and a consensus target price of C$78.38.

Tourmaline Oil Stock Down 0.8 %

Shares of TSE:TOU opened at C$64.78 on Thursday. The stock has a market cap of C$22.77 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 1.72 and a beta of 1.40. The firm’s 50 day moving average price is C$63.47 and its 200 day moving average price is C$62.95. Tourmaline Oil has a fifty-two week low of C$53.45 and a fifty-two week high of C$74.21. The company has a quick ratio of 0.47, a current ratio of 0.81 and a debt-to-equity ratio of 8.04.

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

Tourmaline Oil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, May 16th will be issued a $0.32 dividend. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.28 annualized dividend and a dividend yield of 1.98%. Tourmaline Oil’s payout ratio is presently 23.86%.

Insider Transactions at Tourmaline Oil

In other news, Senior Officer Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction that occurred on Monday, February 5th. The stock was purchased at an average price of C$55.41 per share, for a total transaction of C$277,025.00. Insiders have bought a total of 17,630 shares of company stock worth $1,067,135 over the last ninety days. 5.19% of the stock is currently owned by company 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.