Tourmaline Oil (TSE:TOU) Given New C$66.00 Price Target at TD

Tourmaline Oil (TSE:TOU) had its target price increased by TD from C$65.00 to C$66.00 in a research note published on Wednesday,BayStreet.CA reports. TD currently has a hold rating on the stock.

A number of other equities analysts also recently commented on TOU. BMO Capital Markets downgraded Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their target price for the company from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Desjardins set a C$68.00 price target on Tourmaline Oil and gave the stock a “hold” rating in a report on Friday, July 17th. Canaccord Genuity Group downgraded Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective for the company. in a research note on Thursday, May 7th. Finally, Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research report on Friday, June 26th. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Tourmaline Oil has an average rating of “Moderate Buy” and an average price target of C$70.00.

Tourmaline Oil Stock Up 1.8%

TOU stock opened at C$64.78 on Wednesday. The firm has a market cap of C$25.15 billion, a price-to-earnings ratio of 35.79, a PEG ratio of 1.72 and a beta of -0.27. Tourmaline Oil has a 1-year low of C$56.72 and a 1-year high of C$70.57. The firm has a fifty day moving average price of C$62.76 and a two-hundred day moving average price of C$63.01. The company has a debt-to-equity ratio of 7.14, a current ratio of 0.88 and a quick ratio of 0.47.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share (EPS) for the quarter. Tourmaline Oil had a net margin of 12.79% and a return on equity of 4.40%. The company had revenue of C$1.78 billion for the quarter. Research analysts predict that Tourmaline Oil will post 5.6809091 EPS for the current year.

Tourmaline Oil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a $0.50 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 3.1%. Tourmaline Oil’s dividend payout ratio (DPR) is presently 110.50%.

Insiders Place Their Bets

In other Tourmaline Oil news, insider Mike Rose purchased 2,500 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were bought at an average price of C$59.84 per share, with a total value of C$149,600.00. Following the completion of the acquisition, the insider owned 8,115,178 shares in the company, valued at approximately C$485,612,251.52. This represents a 0.03% increase in their position. Also, insider James William Alexander Heard acquired 1,000 shares of Tourmaline Oil stock in a transaction dated Thursday, June 18th. The shares were acquired at an average price of C$58.88 per share, with a total value of C$58,880.00. Following the completion of the transaction, the insider owned 67,476 shares of the company’s stock, valued at approximately C$3,972,986.88. This trade represents a 1.50% increase in their position. In the last three months, insiders purchased 44,266 shares of company stock worth $2,760,824. 5.13% of the stock is currently owned by corporate insiders.

About Tourmaline Oil

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.