Tourmaline Oil (TSE:TOU) Price Target Cut to C$67.00 by Analysts at Jefferies Financial Group

Tourmaline Oil (TSE:TOU) had its price objective decreased by Jefferies Financial Group from C$75.00 to C$67.00 in a research note published on Monday morning, BayStreet.CA reports. Jefferies Financial Group currently has a buy rating on the stock.

Several other analysts have also commented on the company. National Bankshares raised their price objective on Tourmaline Oil from C$70.00 to C$72.50 and gave the company an outperform rating in a report on Tuesday, August 13th. Scotiabank lifted their price target on shares of Tourmaline Oil from C$90.00 to C$93.00 and gave the company an outperform rating in a research note on Tuesday, August 13th. UBS Group upgraded shares of Tourmaline Oil to a hold rating in a research report on Thursday, June 20th. Canaccord Genuity Group lifted their target price on shares of Tourmaline Oil from C$73.50 to C$75.00 and gave the company a buy rating in a research report on Tuesday, August 13th. Finally, Desjardins upped their price target on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the stock a buy rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of Buy and a consensus target price of C$78.38.

Tourmaline Oil Stock Performance

Shares of TSE TOU opened at C$58.85 on Monday. The company has a market capitalization of C$20.74 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 1.72 and a beta of 1.31. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.47 and a current ratio of 1.11. The company’s fifty day moving average price is C$60.36 and its 200 day moving average price is C$62.96. Tourmaline Oil has a 1 year low of C$53.45 and a 1 year high of C$74.21.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, July 31st. The company reported C$0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.09 by C($0.37). Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. The firm had revenue of C$1.31 billion for the quarter, compared to analysts’ expectations of C$1.37 billion. On average, research analysts predict that Tourmaline Oil will post 6.9569378 earnings per share for the current year.

Tourmaline Oil Cuts Dividend

The business also recently announced a None dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.50 per share. This represents a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, September 13th. Tourmaline Oil’s dividend payout ratio is currently 33.18%.

Insider Activity

In related news, Senior Officer Mike Rose bought 5,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost of C$60.56 per share, with a total value of C$302,778.50. In other news, Senior Officer Mike Rose bought 5,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average cost of C$60.56 per share, for a total transaction of C$302,778.50. Also, Director Jill Terilee Angevine purchased 3,000 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was purchased at an average cost of C$63.17 per share, with a total value of C$189,510.00. Insiders purchased 26,800 shares of company stock worth $1,619,751 over 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.