Tourmaline Oil (TSE:TOU) Given New C$74.00 Price Target at Jefferies Financial Group

Tourmaline Oil (TSE:TOU) had its price objective increased by Jefferies Financial Group from C$72.00 to C$74.00 in a report released on Friday morning,BayStreet.CA reports.

Several other research analysts have also recently issued reports on TOU. Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a research report on Friday, June 26th. TD raised their price objective on Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a research report on Wednesday. BMO Capital Markets downgraded shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Canaccord Genuity Group downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 target price for the company. in a research report on Thursday, May 7th. Finally, Desjardins set a C$68.00 price target on Tourmaline Oil and gave the company a “hold” rating in a report on Friday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$70.36.

Tourmaline Oil Trading Up 0.4%

TSE TOU opened at C$65.16 on Friday. The firm has a 50 day moving average of C$62.69 and a two-hundred day moving average of C$63.05. The stock has a market capitalization of C$25.30 billion, a PE ratio of 36.00, a price-to-earnings-growth ratio of 1.72 and a beta of -0.27. Tourmaline Oil has a 52 week low of C$56.72 and a 52 week high of C$70.57. The company has a quick ratio of 0.47, a current ratio of 0.88 and a debt-to-equity ratio of 7.14.

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

Tourmaline Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Monday, June 15th. Tourmaline Oil’s payout ratio is currently 110.50%.

Insider Activity

In related news, insider Mike Rose purchased 5,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were purchased at an average cost of C$63.96 per share, for a total transaction of C$319,800.00. Following the completion of the transaction, the insider directly owned 8,095,178 shares in the company, valued at approximately C$517,767,584.88. This represents a 0.06% increase in their position. Also, insider Earl Henry Mckinnon sold 4,700 shares of Tourmaline Oil stock in a transaction dated Friday, July 3rd. The stock was sold at an average price of C$60.35, for a total value of C$283,645.00. Following the completion of the transaction, the insider owned 132,280 shares in the company, valued at approximately C$7,983,098. This represents a 3.43% decrease in their position. In the last 90 days, insiders acquired 39,266 shares of company stock valued at $2,463,574. 5.13% of the stock is owned by corporate 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.