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

Tourmaline Oil (TSE:TOU) had its target price increased by Stifel Nicolaus from C$75.00 to C$80.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Scotiabank lowered their price target on Tourmaline Oil from C$100.00 to C$90.00 and set an outperform rating for the company in a research report on Tuesday, January 16th. BMO Capital Markets cut their price target on Tourmaline Oil from C$78.00 to C$75.00 in a research note on Thursday, March 28th. TD Securities cut their price target on Tourmaline Oil from C$75.00 to C$72.00 and set a buy rating for the company in a research note on Thursday, March 7th. ATB Capital cut their target price on Tourmaline Oil from C$85.00 to C$80.00 and set an outperform rating for the company in a research note on Wednesday, March 20th. Finally, Desjardins cut their target price on Tourmaline Oil from C$75.00 to C$74.00 and set a buy rating for the company in a research note on Tuesday. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Buy and a consensus target price of C$78.08.

Tourmaline Oil Stock Performance

Shares of TOU stock opened at C$67.76 on Tuesday. The business’s 50 day simple moving average is C$62.46 and its 200 day simple moving average is C$63.14. Tourmaline Oil has a one year low of C$53.45 and a one year high of C$74.21. The stock has a market capitalization of C$23.82 billion, a PE ratio of 13.47, a PEG ratio of 1.72 and a beta of 1.40. The company has a debt-to-equity ratio of 8.04, a current ratio of 0.81 and a quick ratio of 0.47.

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

Tourmaline Oil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.77%. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, March 14th. Tourmaline Oil’s dividend payout ratio is presently 23.86%.

Insider Buying and Selling at Tourmaline Oil

In other news, Senior Officer Mike Rose bought 5,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was bought at an average cost of C$62.25 per share, for a total transaction of C$311,259.00. Insiders acquired a total of 12,630 shares of company stock worth $743,877 over the last three months. Company insiders own 5.19% of the company’s stock.

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.