TD Securities Lowers Tourmaline Oil (TSE:TOU) Price Target to C$75.00

Tourmaline Oil (TSE:TOU) had its price target reduced by TD Securities from C$77.00 to C$75.00 in a research report released on Wednesday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on TOU. Scotiabank lifted their price target on shares of Tourmaline Oil from C$90.00 to C$93.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. National Bankshares set a C$72.50 price objective on Tourmaline Oil and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Canaccord Genuity Group decreased their price target on Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. Jefferies Financial Group dropped their target price on shares of Tourmaline Oil from C$75.00 to C$67.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, Desjardins raised their price objective on Tourmaline Oil from C$72.00 to C$75.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$77.86.

Tourmaline Oil Stock Up 1.3 %

TSE:TOU opened at C$64.81 on Wednesday. The firm has a market capitalization of C$24.06 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. Tourmaline Oil has a twelve month low of C$53.45 and a twelve month high of C$74.21. The stock’s 50 day moving average price is C$61.75 and its two-hundred day moving average price is C$63.14. The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings results on Wednesday, July 31st. The company reported C$0.72 EPS for the quarter, missing analysts’ consensus estimates of C$1.09 by C($0.37). The company had revenue of C$1.31 billion during the quarter, compared to analyst estimates of C$1.37 billion. Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. Equities research analysts expect that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Cuts Dividend

The firm also recently disclosed a None dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.50 per share. The ex-dividend date was Friday, September 13th. This represents a dividend yield of 2.26%. Tourmaline Oil’s dividend payout ratio (DPR) is presently 33.18%.

Insider Buying and Selling at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer Mike Rose bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of C$60.56 per share, for a total transaction of C$302,778.50. In other news, Senior Officer Mike Rose bought 5,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average price of C$60.56 per share, for a total transaction of C$302,778.50. Also, Senior Officer William Scott Kirker sold 66,000 shares of the business’s stock in a transaction on 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. Over the last ninety days, insiders acquired 36,800 shares of company stock valued at $2,233,566. Insiders own 5.13% of the company’s stock.

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.