Tourmaline Oil (TSE:TOU) Price Target Raised to C$77.51

Tourmaline Oil (TSE:TOU) had its target price increased by CIBC from C$72.50 to C$77.51 in a report released on Monday morning, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other analysts also recently weighed in on the stock. Desjardins cut their price target on shares of Tourmaline Oil from C$76.00 to C$75.00 and set a buy rating on the stock in a research report on Friday, March 22nd. Scotiabank reduced their price target on shares of Tourmaline Oil from C$100.00 to C$90.00 and set an outperform rating on the stock in a research report on Tuesday, January 16th. TD Securities lowered their price objective on shares of Tourmaline Oil from C$75.00 to C$72.00 and set a buy rating for the company in a research report on Thursday, March 7th. ATB Capital dropped their price objective on Tourmaline Oil from C$85.00 to C$80.00 and set an outperform rating on the stock in a research note on Wednesday, March 20th. Finally, National Bankshares decreased their target price on Tourmaline Oil from C$80.00 to C$70.00 and set an outperform rating for the company in a research note on Wednesday, January 10th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Buy and an average target price of C$78.08.

Tourmaline Oil Stock Performance

Shares of Tourmaline Oil stock opened at C$66.22 on Monday. Tourmaline Oil has a 52 week low of C$53.45 and a 52 week high of C$74.21. The company has a debt-to-equity ratio of 8.04, a quick ratio of 0.47 and a current ratio of 0.81. The stock has a market capitalization of C$23.27 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.72 and a beta of 1.40. The firm has a fifty day moving average of C$61.98 and a two-hundred day moving average of C$63.08.

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

Tourmaline Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.81%. Tourmaline Oil’s dividend payout ratio (DPR) is presently 23.86%.

Insider Activity at Tourmaline Oil

In other Tourmaline Oil news, Director Janet Weiss purchased 650 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was bought at an average cost of C$43.66 per share, with a total value of C$28,376.40. In other Tourmaline Oil news, Director Janet Weiss purchased 650 shares of the business’s stock in a transaction on Friday, January 26th. The shares were purchased at an average cost of C$43.66 per share, with a total value of C$28,376.40. Also, Senior Officer Mike Rose acquired 2,500 shares of the firm’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. In the last quarter, insiders have bought 13,280 shares of company stock valued at $772,253. 5.19% of the stock is owned by insiders.

Tourmaline Oil Company Profile

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.