Tourmaline Oil (TSE:TOU) Given New C$76.00 Price Target at Jefferies Financial Group

Tourmaline Oil (TSE:TOU) had its price target increased by Jefferies Financial Group from C$73.00 to C$76.00 in a report issued on Monday,BayStreet.CA reports.

Several other equities analysts have also recently commented on the company. National Bankshares set a C$72.50 target price on Tourmaline Oil and gave the stock a “buy” rating in a research report on Tuesday, September 24th. UBS Group raised their target price on shares of Tourmaline Oil from C$70.00 to C$73.00 in a research note on Monday, December 9th. Canaccord Genuity Group cut their price target on shares of Tourmaline Oil from C$75.00 to C$74.00 in a research note on Tuesday, October 22nd. TD Securities dropped their price objective on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Cormark raised Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$78.21.

Tourmaline Oil Trading Down 1.3 %

Shares of TOU stock opened at C$60.72 on Monday. Tourmaline Oil has a 1 year low of C$53.45 and a 1 year high of C$69.25. The company’s fifty day simple moving average is C$63.99 and its two-hundred day simple moving average is C$62.58. 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 stock has a market capitalization of C$22.54 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 1.72 and a beta of 1.30.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings data on Wednesday, November 6th. The company reported C$1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.26 by C($0.26). Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. The company had revenue of C$1.47 billion for the quarter, compared to the consensus estimate of C$1.63 billion. As a group, analysts anticipate that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 2.31%. Tourmaline Oil’s dividend payout ratio (DPR) is presently 33.18%.

Insider Transactions at Tourmaline Oil

In related news, Director Jill Terilee Angevine bought 2,500 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was purchased at an average cost of C$59.85 per share, with a total value of C$149,625.00. Also, 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 transaction of C$4,380,274.80. In the last three months, insiders have acquired 17,500 shares of company stock worth $1,081,948. 5.13% of the stock is currently owned by 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.