Tourmaline Oil (TSE:TOU) Given New C$80.00 Price Target at Stifel Nicolaus

Tourmaline Oil (TSE:TOU) had its price target hoisted by Stifel Nicolaus from C$75.00 to C$80.00 in a report issued on Tuesday, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other research firms also recently issued reports on TOU. Raymond James reduced their price objective on Tourmaline Oil from C$90.00 to C$85.00 and set a strong-buy rating on the stock in a research note on Friday, January 19th. National Bankshares decreased their price target on shares of Tourmaline Oil from C$80.00 to C$70.00 and set an outperform rating on the stock in a research note on Wednesday, January 10th. BMO Capital Markets lowered their price objective on shares of Tourmaline Oil from C$78.00 to C$75.00 in a research report on Thursday, March 28th. CIBC boosted their target price on shares of Tourmaline Oil from C$72.50 to C$77.51 and gave the stock an outperform rating in a report on Monday. Finally, Scotiabank lowered their price target on shares of Tourmaline Oil from C$100.00 to C$90.00 and set an outperform rating for the company in a report on Tuesday, January 16th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of C$78.08.

Tourmaline Oil Trading Up 0.7 %

Shares of TOU opened at C$66.16 on Tuesday. The firm has a market cap of C$23.25 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 1.72 and a beta of 1.40. The company has a debt-to-equity ratio of 8.04, a current ratio of 0.81 and a quick ratio of 0.47. Tourmaline Oil has a 1 year low of C$53.45 and a 1 year high of C$74.21. The company has a 50 day simple moving average of C$61.98 and a two-hundred day simple moving average of C$63.08.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, March 6th. The company reported C$2.00 earnings per share for the quarter, beating the consensus estimate of C$1.41 by C$0.59. The company had revenue of C$1.66 billion during the quarter, compared to analysts’ expectations of C$1.49 billion. Tourmaline Oil had a net margin of 35.87% and a return on equity of 12.53%. On average, equities analysts expect that Tourmaline Oil will post 4.710507 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.81%. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.28. Tourmaline Oil’s payout ratio is presently 23.86%.

Insiders Place Their Bets

In related news, Senior Officer Mike Rose purchased 2,500 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were purchased at an average cost of C$59.42 per share, for a total transaction of C$148,543.00. In other news, Director Janet Weiss bought 650 shares of the stock in a transaction on Friday, January 26th. The stock was acquired at an average cost of C$43.66 per share, for a total transaction of C$28,376.40. Also, Senior Officer Mike Rose purchased 2,500 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were purchased at an average price of C$59.42 per share, for a total transaction of C$148,543.00. Insiders have acquired a total of 13,680 shares of company stock worth $795,961 over the last quarter. Company insiders own 5.19% 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.