CIBC Increases Tourmaline Oil (TSE:TOU) Price Target to C$77.51

Tourmaline Oil (TSE:TOU) had its price target boosted by CIBC from C$72.50 to C$77.51 in a report released on Monday, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Several other research analysts also recently commented on the company. Canaccord Genuity Group decreased their price objective on Tourmaline Oil from C$75.00 to C$72.50 and set a buy rating on the stock in a research note on Wednesday, April 17th. TD Securities decreased their price objective on Tourmaline Oil from C$75.00 to C$72.00 and set a buy rating on the stock in a research note on Thursday, March 7th. BMO Capital Markets cut their target price on Tourmaline Oil from C$78.00 to C$75.00 in a research report on Thursday, March 28th. National Bankshares cut their target price on Tourmaline Oil from C$80.00 to C$70.00 and set an outperform rating for the company in a research report on Wednesday, January 10th. Finally, ATB Capital cut their target price on Tourmaline Oil from C$85.00 to C$80.00 and set an outperform rating for the company in a research 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Buy and an average price target of C$78.08.

Tourmaline Oil Stock Up 3.0 %

TOU stock opened at C$68.18 on Monday. Tourmaline Oil has a fifty-two week low of C$53.45 and a fifty-two week high of C$74.21. The business’s 50-day moving average is C$62.23 and its two-hundred day moving average is C$63.10. The company has a debt-to-equity ratio of 8.04, a quick ratio of 0.47 and a current ratio of 0.81. The company has a market cap of C$23.96 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 1.72 and a beta of 1.40.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings data on Wednesday, March 6th. The company reported C$2.00 EPS for the quarter, topping the consensus estimate of C$1.41 by C$0.59. Tourmaline Oil had a return on equity of 12.53% and a net margin of 35.87%. The firm had revenue of C$1.66 billion for the quarter, compared to the consensus estimate of C$1.49 billion. As a group, analysts forecast that Tourmaline Oil will post 4.710507 earnings per share for the current year.

Tourmaline Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.76%. The ex-dividend date was Thursday, March 14th. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.28. Tourmaline Oil’s dividend payout ratio (DPR) is currently 23.86%.

Insider Buying and Selling at Tourmaline Oil

In other news, Senior Officer Mike Rose purchased 2,500 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was acquired at an average price of C$59.42 per share, for a total transaction of C$148,543.00. Insiders bought 12,630 shares of company stock worth $743,877 in the last quarter. 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.