Tourmaline Oil (TSE:TOU) Price Target Cut to C$67.00 by Analysts at Jefferies Financial Group

Tourmaline Oil (TSE:TOU) had its price objective cut by Jefferies Financial Group from C$75.00 to C$67.00 in a research note issued to investors on Monday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on TOU. Desjardins boosted their price target on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the company a buy rating in a report on Tuesday, August 13th. National Bankshares boosted their price target on shares of Tourmaline Oil from C$70.00 to C$72.50 and gave the company an outperform rating in a report on Tuesday, August 13th. Scotiabank boosted 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 report on Tuesday, August 13th. Canaccord Genuity Group boosted their price target on shares of Tourmaline Oil from C$73.50 to C$75.00 and gave the company a buy rating in a report on Tuesday, August 13th. Finally, UBS Group raised shares of Tourmaline Oil to a hold rating in a report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of Buy and an average price target of C$78.38.

Tourmaline Oil Stock Performance

TOU stock opened at C$59.56 on Monday. 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 company has a 50 day moving average price of C$60.30 and a 200 day moving average price of C$62.95. Tourmaline Oil has a fifty-two week low of C$53.45 and a fifty-two week high of C$74.21. The stock has a market capitalization of C$20.99 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 1.72 and a beta of 1.31.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings data on Wednesday, July 31st. The company reported C$0.72 earnings per share for the quarter, missing the consensus estimate of C$1.09 by C($0.37). The company had revenue of C$1.31 billion during the quarter, compared to the consensus estimate of C$1.37 billion. Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. Analysts forecast that Tourmaline Oil will post 6.9569378 EPS for the current year.

Tourmaline Oil Cuts Dividend

The business also recently announced a None dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be paid a $0.50 dividend. This represents a yield of 2.26%. The ex-dividend date is Friday, September 13th. Tourmaline Oil’s payout ratio is presently 33.18%.

Insider Buying and Selling

In other Tourmaline Oil news, Senior Officer Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction dated Tuesday, September 10th. The stock was bought at an average cost of C$57.07 per share, for a total transaction of C$285,369.00. In other Tourmaline Oil news, Director Jill Terilee Angevine acquired 3,000 shares of Tourmaline Oil stock in a transaction dated Friday, August 16th. The stock was bought at an average cost of C$63.17 per share, for a total transaction of C$189,510.00. Also, Senior Officer Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of C$57.07 per share, with a total value of C$285,369.00. In the last ninety days, insiders purchased 26,800 shares of company stock valued at $1,619,751. Company insiders own 5.41% of the company’s stock.

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.