Desjardins Issues Positive Forecast for Tourmaline Oil (TSE:TOU) Stock Price

Tourmaline Oil (TSE:TOU) had its price objective hoisted by Desjardins from C$74.00 to C$76.00 in a research report released on Tuesday morning,BayStreet.CA reports. Desjardins currently has a hold rating on the stock.

Several other equities analysts have also recently commented on TOU. UBS Group increased their target price on Tourmaline Oil from C$79.00 to C$80.00 in a research note on Thursday, February 13th. Raymond James set a C$78.00 price target on Tourmaline Oil and gave the stock an “outperform” rating in a research note on Tuesday, April 8th. Cormark raised Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research note on Friday, March 7th. CIBC dropped their price target on Tourmaline Oil from C$80.00 to C$72.50 in a report on Thursday, April 10th. Finally, Jefferies Financial Group lifted their price objective on shares of Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tourmaline Oil has an average rating of “Moderate Buy” and an average target price of C$77.95.

Tourmaline Oil Stock Performance

Tourmaline Oil stock opened at C$60.71 on Tuesday. The stock’s 50-day moving average is C$65.72 and its 200-day moving average is C$65.18. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. Tourmaline Oil has a 12 month low of C$55.27 and a 12 month high of C$70.83. The company has a market cap of C$22.62 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30.

Tourmaline Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.35. Tourmaline Oil’s payout ratio is currently 31.61%.

Insider Activity

In other Tourmaline Oil news, Senior Officer Mike Rose bought 2,500 shares of Tourmaline Oil stock in a transaction dated Friday, March 14th. The shares were bought at an average price of C$64.25 per share, with a total value of C$160,612.50. Also, Director Jill Terilee Angevine bought 1,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were bought at an average price of C$66.63 per share, with a total value of C$66,630.00. Over the last 90 days, insiders purchased 13,500 shares of company stock valued at $883,369. Insiders own 5.13% of the company’s stock.

Tourmaline Oil Company Profile

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.