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

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

TOU has been the topic of several other reports. Cormark upgraded shares of Tourmaline Oil to a “hold” rating in a research report on Monday, September 23rd. TD Securities cut their price target on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. UBS Group increased their price objective on Tourmaline Oil from C$70.00 to C$73.00 in a report on Monday, December 9th. Canaccord Genuity Group cut their target price on Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. Finally, National Bankshares set a C$72.50 price target on Tourmaline Oil and gave the company a “buy” rating in a research note on Tuesday, September 24th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$78.21.

Tourmaline Oil Stock Down 1.7 %

Shares of TSE:TOU opened at C$61.94 on Monday. Tourmaline Oil has a 52-week low of C$53.45 and a 52-week high of C$69.25. The company has a market capitalization of C$22.99 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.47 and a current ratio of 1.11. The company has a fifty day moving average of C$64.18 and a 200-day moving average of C$62.63.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, November 6th. The company reported C$1.00 EPS for the quarter, missing the consensus estimate of C$1.26 by C($0.26). The firm had revenue of C$1.47 billion during the quarter, compared to the consensus estimate of C$1.63 billion. Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. On average, equities analysts predict that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be given a $0.35 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.40 annualized dividend and a yield of 2.26%. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.32. Tourmaline Oil’s dividend payout ratio (DPR) is presently 33.18%.

Insiders Place Their Bets

In other Tourmaline Oil news, Senior Officer Mike Rose bought 2,500 shares of Tourmaline Oil stock in a transaction dated Friday, September 20th. The stock was bought at an average cost of C$58.40 per share, with a total value of C$146,004.50. Also, Senior Officer William Scott Kirker sold 66,000 shares of Tourmaline Oil stock in a transaction on Friday, October 4th. The stock was sold at an average price of C$66.37, for a total value of C$4,380,274.80. Over the last 90 days, insiders have acquired 17,500 shares of company stock worth $1,081,948. Insiders own 5.13% of the company’s stock.

About Tourmaline Oil

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.