CIBC Issues Positive Forecast for Tourmaline Oil (TSE:TOU) Stock Price

Tourmaline Oil (TSE:TOU) had its target price boosted by CIBC from C$75.00 to C$80.00 in a research report sent to investors on Friday morning,BayStreet.CA reports.

A number of other equities analysts have also recently issued reports on the stock. TD Securities dropped their price target on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. National Bankshares upped their target price on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. UBS Group raised their price target on shares of Tourmaline Oil from C$70.00 to C$73.00 in a research report on Monday, December 9th. Jefferies Financial Group upped their price objective on Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday, December 16th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tourmaline Oil presently has a consensus rating of “Moderate Buy” and an average price target of C$78.42.

Tourmaline Oil Trading Up 0.8 %

TSE:TOU opened at C$67.13 on Friday. Tourmaline Oil has a one year low of C$53.45 and a one year high of C$70.65. The company’s 50-day simple moving average is C$64.99 and its 200 day simple moving average is C$62.74. The firm has a market capitalization of C$24.92 billion, a P/E ratio of 15.91, a PEG 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.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings results on Wednesday, November 6th. The company reported C$1.00 earnings per share for the quarter, missing the consensus estimate of C$1.26 by C($0.26). The company 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, analysts forecast that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.09%. This is a boost 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 Transactions at Tourmaline Oil

In related news, Senior Officer Mike Rose bought 2,500 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average cost of C$62.90 per share, for a total transaction of C$157,252.00. Insiders have acquired 12,500 shares of company stock worth $805,187 in the last quarter. 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.