Tourmaline Oil (TSE:TOU) Price Target Raised to C$75.00

Tourmaline Oil (TSE:TOU) had its price objective increased by National Bankshares from C$72.50 to C$75.00 in a research report report published on Thursday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Cormark raised Tourmaline Oil to a “hold” rating in a research report on Monday, September 23rd. TD Securities lowered their price objective on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a 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 research report on Tuesday, October 22nd. UBS Group lifted their price objective on shares of Tourmaline Oil from C$70.00 to C$73.00 in a research note on Monday, December 9th. Finally, Jefferies Financial Group raised their target price on shares of Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Tourmaline Oil has a consensus rating of “Moderate Buy” and a consensus price target of C$78.42.

Tourmaline Oil Trading Up 0.9 %

Shares of TOU opened at C$61.25 on Thursday. The firm’s 50-day moving average is C$63.85 and its two-hundred day moving average is C$62.53. The firm has a market capitalization of C$22.74 billion, a P/E ratio of 14.51, a PEG ratio of 1.72 and a beta of 1.30. Tourmaline Oil has a twelve month low of C$53.45 and a twelve month high of C$69.25. 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 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). The company had revenue of C$1.47 billion during the quarter, compared to analyst estimates of C$1.63 billion. Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. On average, research analysts predict that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.32. Tourmaline Oil’s dividend payout ratio is 33.18%.

Insider Activity

In other Tourmaline Oil news, 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. Also, Director Jill Terilee Angevine purchased 2,500 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was bought at an average price of C$59.85 per share, for a total transaction of C$149,625.00. Over the last quarter, insiders have acquired 15,000 shares of company stock worth $935,943. 5.13% of the stock is owned by corporate insiders.

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.