Tourmaline Oil (TSE:TOU) Price Target Cut to C$75.00

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

Several other research analysts also recently issued reports on TOU. Cormark upgraded Tourmaline Oil to a “hold” rating in a research report on Monday, September 23rd. Canaccord Genuity Group reduced their target price on Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. 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 on the stock in a report on Monday, September 16th. Scotiabank upped their target price on shares of Tourmaline Oil from C$90.00 to C$93.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Finally, National Bankshares set a C$72.50 target price on Tourmaline Oil and gave the company a “buy” rating in a research note on Tuesday, September 24th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$77.86.

Tourmaline Oil Trading Up 1.3 %

TSE:TOU opened at C$64.81 on Wednesday. The stock has a 50-day simple moving average of C$61.75 and a 200-day simple moving average of C$63.14. Tourmaline Oil has a 1 year low of C$53.45 and a 1 year high of C$74.21. 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 stock 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.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$0.72 earnings per share (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 for the quarter, compared to analysts’ expectations of C$1.37 billion. Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. As a group, analysts anticipate that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Cuts Dividend

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

Insider Activity

In other news, Senior Officer William Scott Kirker sold 66,000 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of C$66.37, for a total transaction of C$4,380,274.80. In other Tourmaline Oil news, Senior Officer William Scott Kirker sold 66,000 shares of Tourmaline Oil 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. Also, Director Jill Terilee Angevine bought 1,300 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average cost of C$61.29 per share, for a total transaction of C$79,677.00. In the last ninety days, insiders have purchased 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.