Tourmaline Oil (TSE:TOU) Price Target Raised to C$80.00 at CIBC

Tourmaline Oil (TSE:TOU - Free Report) had its price target raised by CIBC from C$75.00 to C$80.00 in a research report report published on Friday,BayStreet.CA reports.

Several other research analysts also recently weighed in on the stock. TD Securities dropped their target price on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. Canaccord Genuity Group dropped their price objective on Tourmaline Oil from C$75.00 to C$74.00 in a research note on Tuesday, October 22nd. National Bankshares lifted their target price on Tourmaline Oil from C$72.50 to C$75.00 and gave the company an "outperform" rating in a research note on Thursday, December 19th. Jefferies Financial Group upped their price target on Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th. Finally, UBS Group lifted their price objective on shares of Tourmaline Oil from C$70.00 to C$73.00 in a research report on Monday, December 9th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of C$78.42.

Tourmaline Oil Stock Performance

TOU traded up C$0.54 during midday trading on Friday, reaching C$67.13. The company had a trading volume of 1,283,297 shares, compared to its average volume of 1,613,161. Tourmaline Oil has a 1 year low of C$53.45 and a 1 year high of C$70.65. The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24. The company has a market cap of C$24.92 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.72 and a beta of 1.30. The business has a 50-day moving average of C$64.99 and a two-hundred day moving average of C$62.74.

Tourmaline Oil (TSE:TOU - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported C$1.00 earnings per share (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 analysts' expectations of C$1.63 billion. Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. As a group, equities research analysts predict that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.09%. This is a positive change from Tourmaline Oil's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Monday, December 16th. Tourmaline Oil's dividend payout ratio (DPR) is presently 33.18%.

Insider Activity

In other Tourmaline Oil news, Senior Officer Mike Rose acquired 2,500 shares of the business's stock in a transaction on Tuesday, January 7th. The shares were bought at an average price of C$68.38 per share, with a total value of C$170,945.00. In the last 90 days, insiders have purchased 12,500 shares of company stock valued at $805,187. 5.13% of the stock is currently owned by 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.