Jefferies Financial Group Cuts Tourmaline Oil (TSE:TOU) Price Target to C$67.00

Tourmaline Oil (TSE:TOU) had its price target cut by Jefferies Financial Group from C$75.00 to C$67.00 in a research note published on Monday, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other analysts have also issued reports on TOU. Scotiabank boosted their price target on Tourmaline Oil from C$90.00 to C$93.00 and gave the company an outperform rating in a report on Tuesday, August 13th. Canaccord Genuity Group upped their target price on Tourmaline Oil from C$73.50 to C$75.00 and gave the stock a buy rating in a report on Tuesday, August 13th. Desjardins raised their price target 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. UBS Group raised shares of Tourmaline Oil to a hold rating in a research note on Thursday, June 20th. Finally, National Bankshares increased their target price on shares of Tourmaline Oil from C$70.00 to C$72.50 and gave the stock an outperform rating in a report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Buy and an average target price of C$78.38.

Tourmaline Oil Stock Performance

TOU stock opened at C$58.85 on Monday. Tourmaline Oil has a twelve month low of C$53.45 and a twelve month high of C$74.21. The firm has a market cap of C$20.74 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.72 and a beta of 1.31. The business’s fifty day simple moving average is C$60.36 and its two-hundred day simple moving average is C$62.96. The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings results 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 return on equity of 10.86% and a net margin of 30.75%. The company had revenue of C$1.31 billion during the quarter, compared to analysts’ expectations of C$1.37 billion. Analysts predict that Tourmaline Oil will post 6.9569378 earnings per share for the current year.

Tourmaline Oil Cuts Dividend

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

Insider Buying and Selling at Tourmaline Oil

In related news, Director Jill Terilee Angevine acquired 1,300 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of C$61.29 per share, with a total value of C$79,677.00. In other news, Director Jill Terilee Angevine acquired 1,300 shares of Tourmaline Oil stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of C$61.29 per share, for a total transaction of C$79,677.00. Also, Senior Officer Mike Rose bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were purchased at an average cost of C$57.07 per share, with a total value of C$285,369.00. In the last quarter, insiders have purchased 26,800 shares of company stock worth $1,619,751. 5.41% of the stock is owned by corporate 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.