Tourmaline Oil (TSE:TOU) PT Lowered to C$74.00 at Canaccord Genuity Group

Tourmaline Oil (TSE:TOU) had its price objective decreased by Canaccord Genuity Group from C$75.00 to C$74.00 in a report published on Tuesday morning, BayStreet.CA reports.

A number of other equities research analysts have also recently issued reports on TOU. Jefferies Financial Group reduced their target price on shares of Tourmaline Oil from C$75.00 to C$67.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Desjardins increased their target price on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. 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 research report on Tuesday, August 13th. 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. Finally, Cormark upgraded Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd. Two equities research 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, Tourmaline Oil has an average rating of “Moderate Buy” and an average price target of C$77.86.

Tourmaline Oil Price Performance

TSE:TOU opened at C$64.81 on Tuesday. The company has a market cap of C$24.06 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.72 and a beta of 1.30. 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 firm’s fifty day moving average price is C$61.75 and its two-hundred day moving average price is C$63.14. Tourmaline Oil has a one year low of C$53.45 and a one year high of C$74.21.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, July 31st. The company reported C$0.72 EPS for the quarter, missing the consensus estimate of C$1.09 by C($0.37). The firm 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 analysts expect that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Cuts Dividend

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

Insider Transactions at Tourmaline Oil

In related news, Director Jill Terilee Angevine bought 1,300 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average cost of C$61.29 per share, with a total value of C$79,677.00. In related news, Director Jill Terilee Angevine bought 1,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price of C$61.29 per share, for a total transaction of C$79,677.00. Also, Senior Officer Mike Rose purchased 2,500 shares of Tourmaline Oil stock in a transaction that occurred on Tuesday, October 15th. The stock was acquired at an average cost of C$63.32 per share, with a total value of C$158,310.00. Over the last 90 days, insiders have acquired 36,800 shares of company stock worth $2,233,566. Company 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.