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

Tourmaline Oil (TSE:TOU - Free Report) had its price objective lowered by TD Securities from C$77.00 to C$75.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the company. Scotiabank lifted their price target on 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. Desjardins upped 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. Cormark upgraded shares of Tourmaline Oil to a "hold" rating in a report on Monday, September 23rd. Jefferies Financial Group dropped their price target on 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, National Bankshares set a C$72.50 price objective on Tourmaline Oil and gave the company a "buy" rating in a research report on Tuesday, September 24th. Two investment 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 MarketBeat.com, Tourmaline Oil has a consensus rating of "Moderate Buy" and an average target price of C$77.86.

Tourmaline Oil Price Performance

TSE TOU traded down C$0.10 on Wednesday, reaching C$63.18. 887,180 shares of the company's stock traded hands, compared to its average volume of 2,393,890. The stock has a market cap of C$23.45 billion, a PE ratio of 14.92, a P/E/G ratio of 1.72 and a beta of 1.30. Tourmaline Oil has a 12 month low of C$53.45 and a 12 month high of C$74.21. The stock has a 50-day simple moving average of C$61.57 and a 200 day simple moving average of C$63.13. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.11 and a quick ratio of 0.47.

Tourmaline Oil (TSE:TOU - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported C$0.72 earnings per share for the quarter, missing analysts' consensus estimates of C$1.09 by C($0.37). Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. The company had revenue of C$1.31 billion for the quarter, compared to analysts' expectations of C$1.37 billion. As a group, research analysts predict that Tourmaline Oil will post 5.6809091 earnings per share for the current 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 of this dividend was Friday, September 13th. This represents a dividend yield of 2.26%. Tourmaline Oil's dividend payout ratio (DPR) is presently 33.18%.

Insiders Place Their Bets

In other news, Senior Officer Mike Rose bought 5,000 shares of the company's stock in a transaction on Tuesday, September 10th. The shares were acquired at an average cost of C$57.07 per share, with a total value of C$285,369.00. In other Tourmaline Oil news, Senior Officer William Scott Kirker sold 66,000 shares of the company's stock in a transaction dated 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. Also, Senior Officer Mike Rose acquired 5,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were bought at an average cost of C$57.07 per share, for a total transaction of C$285,369.00. In the last 90 days, insiders acquired 36,800 shares of company stock valued at $2,233,566. 5.13% of the stock is owned by insiders.

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.