Canaccord Genuity Group Raises Tourmaline Oil (TSE:TOU) Price Target to C$73.50

Tourmaline Oil (TSE:TOU) had its price objective lifted by Canaccord Genuity Group from C$72.50 to C$73.50 in a report released on Thursday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other research analysts have also recently issued reports on TOU. BMO Capital Markets cut their price objective on Tourmaline Oil from C$78.00 to C$75.00 in a research report on Thursday, March 28th. Desjardins decreased their price target on Tourmaline Oil from C$75.00 to C$74.00 and set a buy rating on the stock in a research note on Tuesday, April 23rd. ATB Capital decreased their target price on Tourmaline Oil from C$85.00 to C$80.00 and set an outperform rating for the company in a report on Wednesday, March 20th. Raymond James cut their target price on shares of Tourmaline Oil from C$90.00 to C$85.00 and set a strong-buy rating on the stock in a research note on Friday, January 19th. Finally, TD Securities reduced their price target on Tourmaline Oil from C$75.00 to C$72.00 and set a buy rating on the stock in a research report on Thursday, March 7th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Buy and an average target price of C$78.38.

Tourmaline Oil Stock Down 0.8 %

TOU opened at C$64.78 on Thursday. The stock has a market capitalization of C$22.77 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 1.72 and a beta of 1.40. Tourmaline Oil has a one year low of C$53.45 and a one year high of C$74.21. The business’s 50-day simple moving average is C$63.47 and its 200-day simple moving average is C$62.88. 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 for the quarter, beating the consensus estimate 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 company had revenue of C$1.66 billion for the quarter, compared to the consensus estimate of C$1.49 billion. Analysts anticipate that Tourmaline Oil will post 4.710507 EPS for the current year.

Tourmaline Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, May 16th will be paid a $0.32 dividend. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Wednesday, May 8th. Tourmaline Oil’s dividend payout ratio is currently 23.86%.

Insider Activity

In other Tourmaline Oil news, Senior Officer Mike Rose acquired 2,500 shares of the stock in a transaction dated Friday, March 22nd. The shares were bought at an average price of C$59.42 per share, with a total value of C$148,543.00. Insiders bought a total of 12,630 shares of company stock worth $790,110 over the last 90 days. 5.19% of the stock is currently owned by company insiders.

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.