Stifel Nicolaus Raises Tourmaline Oil (TSE:TOU) Price Target to C$80.00

Tourmaline Oil (TSE:TOU) had its price target lifted by Stifel Nicolaus from C$75.00 to C$80.00 in a research note published on Tuesday morning, BayStreet.CA reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Tourmaline Oil from C$70.00 to C$75.00 and gave the stock a buy rating in a research note on Friday, April 12th. BMO Capital Markets lowered their target price on shares of Tourmaline Oil from C$78.00 to C$75.00 in a research report on Thursday, March 28th. Desjardins lowered their target price on shares of Tourmaline Oil from C$75.00 to C$74.00 and set a buy rating on the stock in a research report on Tuesday. Canaccord Genuity Group decreased their price target on shares of Tourmaline Oil from C$75.00 to C$72.50 and set a buy rating for the company in a report on Wednesday, April 17th. Finally, TD Securities decreased their price target on shares of Tourmaline Oil from C$75.00 to C$72.00 and set a buy rating for the company in a report on Thursday, March 7th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus target price of C$78.08.

Tourmaline Oil Price Performance

Shares of TSE:TOU opened at C$68.18 on Tuesday. Tourmaline Oil has a one year low of C$53.45 and a one year high of C$74.21. The stock has a fifty day moving average of C$62.23 and a 200-day moving average of C$63.10. The company has a market capitalization of C$23.96 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.72 and a beta of 1.40. The company has a debt-to-equity ratio of 8.04, a quick ratio of 0.47 and a current ratio of 0.81.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, March 6th. The company reported C$2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.41 by C$0.59. Tourmaline Oil had a net margin of 35.87% and a return on equity of 12.53%. The company had revenue of C$1.66 billion for the quarter, compared to the consensus estimate of C$1.49 billion. As a group, equities analysts anticipate that Tourmaline Oil will post 4.710507 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Thursday, March 14th. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.28. Tourmaline Oil’s dividend payout ratio (DPR) is presently 23.86%.

Insider Buying and Selling

In other news, Senior Officer Mike Rose acquired 2,500 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was bought at an average price of C$59.42 per share, with a total value of C$148,543.00. Insiders acquired 12,630 shares of company stock valued at $743,877 over the last quarter. Corporate insiders own 5.19% of the company’s stock.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.