Tourmaline Oil (TSE:TOU) Price Target Cut to C$72.00

Tourmaline Oil (TSE:TOU) had its price objective decreased by Desjardins from C$74.00 to C$72.00 in a research report report published on Tuesday morning, BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

Several other research analysts have also recently issued reports on TOU. Jefferies Financial Group increased their price target 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. Stifel Nicolaus increased their target price on Tourmaline Oil from C$75.00 to C$80.00 and gave the stock a buy rating in a research note on Tuesday, April 23rd. CIBC lifted their price target on Tourmaline Oil from C$77.50 to C$80.00 and gave the company an outperform rating in a research note on Thursday, May 2nd. UBS Group upgraded Tourmaline Oil to a hold rating in a research report on Thursday, June 20th. Finally, Canaccord Genuity Group boosted their target price on shares of Tourmaline Oil from C$72.50 to C$73.50 and gave the stock a buy rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Buy and an average price target of C$78.21.

Tourmaline Oil Trading Down 0.6 %

TSE TOU opened at C$58.28 on Tuesday. The firm’s fifty day moving average is C$61.95 and its two-hundred day moving average is C$62.27. The company has a debt-to-equity ratio of 9.61, a quick ratio of 0.47 and a current ratio of 0.89. The firm has a market cap of C$20.49 billion, a PE ratio of 11.68, a P/E/G ratio of 1.72 and a beta of 1.39. Tourmaline Oil has a one year low of C$53.45 and a one year high of C$74.21.

Tourmaline Oil Cuts Dividend

The firm also recently declared a None dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Friday, August 9th will be issued a $0.50 dividend. The ex-dividend date is Friday, August 9th. Tourmaline Oil’s dividend payout ratio (DPR) is presently 25.65%.

Insider Transactions at Tourmaline Oil

In related news, Senior Officer Mike Rose purchased 2,500 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was bought at an average price of C$66.10 per share, with a total value of C$165,250.00. Insiders acquired a total of 10,000 shares of company stock valued at $645,707 in the last ninety days. Corporate insiders own 5.41% 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.