Tourmaline Oil (TSE:TOU) Given New C$74.00 Price Target at Desjardins

Tourmaline Oil (TSE:TOU) had its price objective trimmed by Desjardins from C$75.00 to C$74.00 in a report published on Tuesday morning, BayStreet.CA reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on TOU. Canaccord Genuity Group decreased their price target on Tourmaline Oil from C$75.00 to C$72.50 and set a buy rating on the stock in a report on Wednesday, April 17th. Scotiabank reduced their target price on 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. CIBC raised their target price on Tourmaline Oil from C$72.50 to C$77.51 and gave the stock an outperform rating in a report on Monday, April 22nd. TD Securities cut their price objective on 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. Finally, Jefferies Financial Group lifted their price objective on Tourmaline Oil from C$70.00 to C$75.00 and gave the company a buy rating in a report on Friday, April 12th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Buy and a consensus target price of C$78.08.

Tourmaline Oil Price Performance

Shares of TSE TOU opened at C$67.76 on Tuesday. Tourmaline Oil has a twelve month low of C$53.45 and a twelve month high of C$74.21. The company has a current ratio of 0.81, a quick ratio of 0.47 and a debt-to-equity ratio of 8.04. The company has a market capitalization of C$23.82 billion, a price-to-earnings ratio of 13.47, a PEG ratio of 1.72 and a beta of 1.40. The firm has a 50-day moving average of C$62.46 and a two-hundred day moving average of C$63.14.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings data on Wednesday, March 6th. The company reported C$2.00 EPS for the quarter, topping 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 firm had revenue of C$1.66 billion for the quarter, compared to the consensus estimate of C$1.49 billion. As a group, analysts expect that Tourmaline Oil will post 4.710507 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid 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 1.77%. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.28. Tourmaline Oil’s dividend payout ratio (DPR) is currently 23.86%.

Insider Buying and Selling

In other news, Senior Officer Mike Rose acquired 2,500 shares of Tourmaline Oil stock in a transaction on Friday, March 22nd. The stock was purchased at an average price of C$59.42 per share, with a total value of C$148,543.00. Insiders acquired 12,630 shares of company stock valued at $743,877 over the last 90 days. Company insiders own 5.19% of the company’s stock.

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.