Jefferies Financial Group Issues Positive Forecast for Tourmaline Oil (TSE:TOU) Stock Price

Tourmaline Oil (TSE:TOU) had its price objective hoisted by Jefferies Financial Group from C$67.00 to C$73.00 in a research report released on Thursday morning,BayStreet.CA reports.

A number of other equities research analysts have also recently issued reports on TOU. National Bankshares set a C$72.50 price objective on shares of Tourmaline Oil and gave the stock a “buy” rating in a report on Tuesday, September 24th. Scotiabank increased 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. Desjardins increased their price objective on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Canaccord Genuity Group cut their target price on shares of Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. Finally, Cormark upgraded shares of Tourmaline Oil to a “hold” rating in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$78.41.

Tourmaline Oil Stock Down 2.0 %

Shares of TSE TOU traded down C$1.27 during midday trading on Thursday, reaching C$61.89. 654,383 shares of the company’s stock were exchanged, compared to its average volume of 2,400,448. The stock has a market capitalization of C$22.97 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. Tourmaline Oil has a 52-week low of C$53.45 and a 52-week high of C$70.00. The business’s fifty day moving average price is C$62.09 and its two-hundred day moving average price is C$63.08. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.47 and a current ratio of 1.11.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, November 6th. The company reported C$1.00 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.26 by C($0.26). Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. The business had revenue of C$1.47 billion for the quarter, compared to the consensus estimate of C$1.63 billion. Analysts forecast that Tourmaline Oil will post 5.6809091 EPS for the current year.

Tourmaline Oil Cuts Dividend

The firm also recently announced a None dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a dividend yield of 2.26%. Tourmaline Oil’s payout ratio is 33.18%.

Insider Activity

In other news, Senior Officer Mike Rose bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were bought 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 purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price of C$60.56 per share, for a total transaction of C$302,778.50. Also, Senior Officer William Scott Kirker sold 66,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of C$66.37, for a total transaction of C$4,380,274.80. Over the last ninety days, insiders bought 39,300 shares of company stock worth $2,389,230. 5.13% of the stock is owned by company insiders.

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.