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

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

Several other research analysts also recently weighed in on the stock. Scotiabank lowered their price objective on shares of Tourmaline Oil from C$100.00 to C$90.00 and set an outperform rating on the stock in a report on Tuesday, January 16th. Jefferies Financial Group upped their price objective on shares of Tourmaline Oil from C$70.00 to C$75.00 and gave the stock a buy rating in a report on Friday, April 12th. TD Securities lowered their price objective on shares of Tourmaline Oil from C$75.00 to C$72.00 and set a buy rating on the stock in a report on Thursday, March 7th. National Bankshares lowered their price objective on shares of Tourmaline Oil from C$80.00 to C$70.00 and set an outperform rating on the stock in a report on Wednesday, January 10th. Finally, ATB Capital lowered their price objective on shares of Tourmaline Oil from C$85.00 to C$80.00 and set an outperform rating on the stock in a report on Wednesday, March 20th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of Buy and an average price target of C$78.08.

Tourmaline Oil Trading Up 3.0 %

TSE:TOU opened at C$68.18 on Monday. The firm’s fifty day moving average is C$62.23 and its 200-day moving average is C$63.10. 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 has a 52 week low of C$53.45 and a 52 week high of C$74.21. The firm has a market cap of C$23.96 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.72 and a beta of 1.40.

Tourmaline Oil (TSE:TOU) last released its earnings results on Wednesday, March 6th. The company reported C$2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. Equities analysts expect that Tourmaline Oil will post 4.710507 earnings per share for the current year.

Tourmaline Oil Increases Dividend

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

Insiders Place Their Bets

In other Tourmaline Oil news, Senior Officer Mike Rose bought 5,000 shares of the business’s stock in a transaction on Monday, February 5th. The stock was purchased at an average price of C$55.41 per share, for a total transaction of C$277,025.00. Insiders acquired 12,630 shares of company stock worth $743,877 over the last quarter. 5.19% of the stock is currently owned by company 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.