Tourmaline Oil (TSE:TOU) Price Target Raised to C$80.00 at Stifel Nicolaus

Tourmaline Oil (TSE:TOU) had its price objective increased by Stifel Nicolaus from C$75.00 to C$80.00 in a research note released on Tuesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other research firms also recently commented on TOU. CIBC lifted their price objective 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, April 22nd. TD Securities decreased their price objective on shares of Tourmaline Oil from C$75.00 to C$72.00 and set a buy rating for the company in a report on Thursday, March 7th. BMO Capital Markets decreased their price objective on shares of Tourmaline Oil from C$78.00 to C$75.00 in a report on Thursday, March 28th. Raymond James decreased their price objective on shares of Tourmaline Oil from C$90.00 to C$85.00 and set a strong-buy rating for the company in a report on Friday, January 19th. Finally, ATB Capital reduced their price target on shares of Tourmaline Oil from C$85.00 to C$80.00 and set an outperform rating for the company in a report on Wednesday, March 20th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tourmaline Oil presently has a consensus rating of Buy and an average target price of C$78.08.

Tourmaline Oil Stock Down 0.6 %

Shares of TSE:TOU opened at C$67.76 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.47 and a debt-to-equity ratio of 8.04. The company has a fifty day simple moving average of C$62.46 and a 200 day simple moving average of C$63.14. The firm has a market cap of C$23.82 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 1.72 and a beta of 1.40. Tourmaline Oil has a 12-month low of C$53.45 and a 12-month high of C$74.21.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$1.41 by C$0.59. The business had revenue of C$1.66 billion during the quarter, compared to analyst estimates 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 research analysts anticipate that Tourmaline Oil will post 4.710507 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 1.77%. Tourmaline Oil’s payout ratio is 23.86%.

Insiders Place Their Bets

In related news, Senior Officer Mike Rose acquired 5,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were purchased at an average price of C$62.25 per share, for a total transaction of C$311,259.00. Over the last three months, insiders have acquired 12,630 shares of company stock worth $743,877. 5.19% 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.