Tourmaline Oil (TSE:TOU) Price Target Cut to C$70.00 by Analysts at Jefferies Financial Group

Tourmaline Oil (TSE:TOU) had its target price trimmed by Jefferies Financial Group from C$72.00 to C$70.00 in a research note published on Tuesday morning,BayStreet.CA reports.

Several other brokerages also recently commented on TOU. TD Securities downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$73.00 to C$68.00 in a report on Tuesday, September 30th. Capital One Financial upgraded Tourmaline Oil to a “strong-buy” rating in a report on Monday, October 27th. Raymond James Financial decreased their target price on Tourmaline Oil from C$74.00 to C$72.00 in a research report on Thursday, November 6th. The Goldman Sachs Group raised Tourmaline Oil to a “strong-buy” rating in a report on Monday, October 13th. Finally, CIBC decreased their price objective on Tourmaline Oil from C$71.00 to C$66.00 in a report on Tuesday, January 13th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$71.89.

Tourmaline Oil Stock Up 0.7%

TOU opened at C$60.05 on Tuesday. The stock’s fifty day simple moving average is C$61.47 and its 200 day simple moving average is C$60.67. Tourmaline Oil has a 1-year low of C$55.40 and a 1-year high of C$70.83. The stock has a market cap of C$23.24 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.72 and a beta of -0.03. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings data on Wednesday, November 5th. The company reported C$0.49 EPS for the quarter. Tourmaline Oil had a net margin of 28.53% and a return on equity of 11.08%. The firm had revenue of C$1.40 billion during the quarter. As a group, research analysts expect that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. Tourmaline Oil’s dividend payout ratio is currently 52.86%.

Insider Buying and Selling

In related news, insider Mike Rose acquired 10,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was purchased at an average cost of C$59.83 per share, with a total value of C$598,300.00. Following the acquisition, the insider directly owned 8,197,742 shares of the company’s stock, valued at approximately C$490,470,903.86. The trade was a 0.12% increase in their ownership of the stock. 5.13% of the stock is currently owned by company insiders.

Tourmaline Oil Company Profile

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.