Raymond James Analysts Give Tourmaline Oil (TSE:TOU) a C$78.00 Price Target

Raymond James set a C$78.00 price target on Tourmaline Oil (TSE:TOU) in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts also recently commented on TOU. Cormark upgraded Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research report on Friday, March 7th. UBS Group lifted their target price on Tourmaline Oil from C$79.00 to C$80.00 in a research note on Thursday, February 13th. CIBC upped their price target on Tourmaline Oil from C$75.00 to C$80.00 in a research note on Friday, January 17th. National Bankshares increased their price objective on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, Desjardins downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$80.00 to C$74.00 in a report on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$77.75.

Tourmaline Oil Stock Down 3.4 %

Shares of TOU stock opened at C$57.00 on Tuesday. The company has a 50 day simple moving average of C$66.09 and a two-hundred day simple moving average of C$65.20. The stock has a market cap of C$21.24 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.72 and a beta of 1.30. Tourmaline Oil has a 12 month low of C$55.27 and a 12 month high of C$70.83. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13.

Tourmaline Oil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.51%. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, March 14th. Tourmaline Oil’s dividend payout ratio is presently 31.61%.

Insider Activity

In other news, Senior Officer Mike Rose acquired 2,500 shares of Tourmaline Oil stock in a transaction that occurred on Monday, January 27th. The stock was purchased at an average price of C$67.43 per share, for a total transaction of C$168,575.00. Also, Director Jill Terilee Angevine purchased 1,000 shares of Tourmaline Oil stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of C$66.63 per share, for a total transaction of C$66,630.00. Over the last ninety days, insiders have acquired 13,500 shares of company stock worth $883,369. Corporate insiders own 5.13% of the company’s stock.

Tourmaline Oil Company Profile

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.