Tourmaline Oil (TSE:TOU) Given New C$73.00 Price Target at Jefferies Financial Group

Tourmaline Oil (TSE:TOU) had its target price increased by Jefferies Financial Group from C$67.00 to C$73.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports.

Other analysts have also issued research reports about the stock. TD Securities lowered their price objective on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Canaccord Genuity Group lowered their price target on shares of Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. National Bankshares set a C$72.50 price objective on Tourmaline Oil and gave the company a “buy” rating in a report on Tuesday, September 24th. Desjardins boosted their target price on Tourmaline Oil from C$72.00 to C$75.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, Scotiabank upped their price target on Tourmaline Oil from C$90.00 to C$93.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tourmaline Oil has a consensus rating of “Moderate Buy” and an average target price of C$78.41.

Tourmaline Oil Stock Performance

Shares of TOU opened at C$62.29 on Thursday. The stock has a 50 day moving average of C$62.09 and a 200 day moving average of C$63.05. The company has a market capitalization of C$23.12 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.72 and a beta of 1.30. Tourmaline Oil has a 12 month low of C$53.45 and a 12 month high of C$70.00. The company has a current ratio of 1.11, a quick ratio of 0.47 and a debt-to-equity ratio of 10.24.

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

Tourmaline Oil Cuts Dividend

The business also recently disclosed a None dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a yield of 2.26%. Tourmaline Oil’s dividend payout ratio (DPR) is 33.18%.

Insiders Place Their Bets

In related news, Senior Officer Mike Rose purchased 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average cost of C$57.07 per share, for a total transaction of C$285,369.00. In other news, Senior Officer Mike Rose purchased 5,000 shares of Tourmaline Oil stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average cost of C$57.07 per share, for a total transaction of C$285,369.00. Also, Director Jill Terilee Angevine purchased 2,500 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was purchased at an average cost of C$59.85 per share, for a total transaction of C$149,625.00. Insiders purchased a total of 39,300 shares of company stock worth $2,389,230 in the last quarter. 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.