Tourmaline Oil (TSE:TOU) had its target price boosted by BMO Capital Markets from C$40.00 to C$41.00 in a research report released on Monday morning, Price Targets.com reports. BMO Capital Markets currently has a na rating on the stock.
Other analysts have also recently issued research reports about the company. Raymond James boosted their price target on Tourmaline Oil from C$32.00 to C$33.00 and gave the stock an outperform rating in a research report on Wednesday, May 19th. Canaccord Genuity boosted their price target on Tourmaline Oil from C$34.00 to C$36.00 and gave the stock a buy rating in a research report on Wednesday, May 19th. Scotiabank boosted their price target on Tourmaline Oil from C$43.00 to C$47.00 in a research report on Monday, June 14th. Tudor Pickering & Holt boosted their price target on Tourmaline Oil from C$30.00 to C$32.00 and gave the stock a buy rating in a research report on Wednesday, May 19th. Finally, Royal Bank of Canada boosted their price target on Tourmaline Oil to C$42.00 and gave the stock an outperform rating in a research report on Monday, June 14th. Ten equities research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and an average target price of C$38.46.
TOU opened at C$33.40 on Monday. The firm has a market capitalization of C$9.92 billion and a PE ratio of 10.35. Tourmaline Oil has a 1 year low of C$11.69 and a 1 year high of C$34.33. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 15.59. The company’s fifty day moving average price is C$28.73.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Wednesday, June 30th will be paid a $0.16 dividend. The ex-dividend date is Monday, June 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.92%. Tourmaline Oil’s payout ratio is presently 16.73%.
In other news, Senior Officer Mike Rose purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, March 31st. The shares were purchased at an average cost of C$23.59 per share, for a total transaction of C$117,938.50. Following the completion of the purchase, the insider now directly owns 8,811,058 shares of the company’s stock, valued at approximately C$207,832,592.79. Also, Senior Officer William Scott Kirker sold 60,000 shares of the business’s stock in a transaction dated Tuesday, June 15th. The shares were sold at an average price of C$32.88, for a total value of C$1,972,800.00. Following the transaction, the insider now owns 673,373 shares in the company, valued at C$22,140,504.24.
About Tourmaline Oil
Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. The company was incorporated in 2008 and is headquartered in Calgary, Canada.
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