Tourmaline Oil (TSE:TOU) Given New C$70.00 Price Target at Desjardins

Tourmaline Oil (TSE:TOU) had its price objective hoisted by Desjardins from C$68.00 to C$70.00 in a report published on Monday,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research analysts have also recently weighed in on the company. Raymond James Financial cut their price objective on Tourmaline Oil from C$74.00 to C$72.00 in a research report on Thursday, November 6th. Jefferies Financial Group cut their price target on shares of Tourmaline Oil from C$72.00 to C$70.00 in a report on Tuesday, January 20th. Scotiabank reduced their price target on shares of Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating for the company in a research report on Wednesday, January 21st. TD Securities lowered shares of Tourmaline Oil from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$73.00 to C$68.00 in a research report on Tuesday, September 30th. Finally, Capital One Financial upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$71.56.

Tourmaline Oil Trading Down 0.0%

TSE:TOU opened at C$62.48 on Monday. Tourmaline Oil has a 52 week low of C$55.40 and a 52 week high of C$70.83. The firm has a 50-day moving average price of C$61.54 and a two-hundred day moving average price of C$60.65. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01. The firm has a market cap of C$24.18 billion, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 1.72 and a beta of -0.03.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, November 5th. The company reported C$0.49 earnings per share for the quarter. The firm had revenue of C$1.40 billion for the quarter. Tourmaline Oil had a return on equity of 11.08% and a net margin of 28.53%. On average, equities analysts expect that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $2.00 annualized dividend and a yield of 3.2%. Tourmaline Oil’s dividend payout ratio (DPR) is 52.86%.

Insider Transactions at Tourmaline Oil

In related news, insider Mike Rose bought 2,500 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were purchased at an average price of C$58.72 per share, for a total transaction of C$146,800.00. Following the completion of the transaction, the insider directly owned 8,032,678 shares in the company, valued at approximately C$471,678,852.16. The trade was a 0.03% increase in their position. 5.13% of the stock is owned by 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.