Canaccord Genuity Group Trims Tourmaline Oil (TSE:TOU) Target Price to C$74.00

Tourmaline Oil (TSE:TOU) had its price target lowered by Canaccord Genuity Group from C$75.00 to C$74.00 in a report released on Tuesday morning, BayStreet.CA reports.

A number of other research analysts have also weighed in on the stock. Scotiabank raised their price objective 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. Cormark upgraded Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd. National Bankshares set a C$72.50 price objective on Tourmaline Oil and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Desjardins lifted their target price on Tourmaline Oil from C$72.00 to C$75.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group lowered their price target on Tourmaline Oil from C$75.00 to C$67.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$77.86.

Tourmaline Oil Price Performance

The company has a 50 day moving average price of C$61.67 and a 200-day moving average price of C$63.13. Tourmaline Oil has a 12-month low of C$53.45 and a 12-month high of C$74.21. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.11 and a quick ratio of 0.47. The company has a market cap of C$23.76 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings data on Wednesday, July 31st. The company reported C$0.72 EPS for the quarter, missing the consensus estimate of C$1.09 by C($0.37). Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. The firm had revenue of C$1.31 billion for the quarter, compared to the consensus estimate of C$1.37 billion. On average, sell-side analysts expect that Tourmaline Oil will post 5.6809091 EPS for the current year.

Tourmaline Oil Cuts Dividend

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

Insider Buying and Selling

In other Tourmaline Oil news, Senior Officer William Scott Kirker sold 66,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of C$66.37, for a total value of C$4,380,274.80. In other Tourmaline Oil news, Senior Officer William Scott Kirker sold 66,000 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of C$66.37, for a total value of C$4,380,274.80. Also, Senior Officer Mike Rose purchased 2,500 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were purchased at an average cost of C$63.32 per share, for a total transaction of C$158,310.00. Over the last 90 days, insiders purchased 36,800 shares of company stock worth $2,233,566. Insiders own 5.13% 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.