Tourmaline Oil (TSE:TOU) Given New C$74.00 Price Target at Desjardins

Tourmaline Oil (TSE:TOU) had its price objective boosted by Desjardins from C$70.00 to C$74.00 in a research note released on Monday morning,BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

TOU has been the subject of a number of other research reports. Raymond James Financial increased their price target on Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. Jefferies Financial Group lowered their target price on shares of Tourmaline Oil from C$72.00 to C$70.00 in a report on Tuesday, January 20th. Canadian Imperial Bank of Commerce lowered their target price on Tourmaline Oil from C$71.00 to C$66.00 in a research report on Tuesday, January 13th. ATB Cormark Capital Markets reduced their price objective on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Scotiabank cut their price objective on shares of Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$71.22.

Tourmaline Oil Trading Up 0.4%

Shares of TOU stock opened at C$63.60 on Monday. The firm has a fifty day moving average price of C$61.78 and a 200-day moving average price of C$61.31. Tourmaline Oil has a 1 year low of C$55.40 and a 1 year high of C$70.73. The company has a debt-to-equity ratio of 12.25, a current ratio of 0.83 and a quick ratio of 0.47. The company has a market cap of C$24.61 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.72 and a beta of 0.00.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, March 4th. The company reported C($1.72) EPS for the quarter. The company had revenue of C$1.66 billion during the quarter. Tourmaline Oil had a return on equity of 1.65% and a net margin of 5.03%. As a group, equities analysts predict that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, December 15th. Tourmaline Oil’s payout ratio is currently 52.86%.

Insider Activity

In other Tourmaline Oil news, insider Mike Rose acquired 10,000 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was purchased at an average price of C$62.21 per share, for a total transaction of C$622,100.00. Following the acquisition, the insider owned 8,042,678 shares in the company, valued at approximately C$500,334,998.38. This trade represents a 0.12% increase in their position. Insiders own 5.13% of the company’s stock.

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.