Tourmaline Oil (TSE:TOU – Free Report) had its price target trimmed by Desjardins from C$75.00 to C$74.00 in a report published on Tuesday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.
Several other analysts have also recently issued reports on the company. Canaccord Genuity Group reduced their price objective on Tourmaline Oil from C$75.00 to C$72.50 and set a buy rating on the stock in a research note on Wednesday, April 17th. Raymond James reduced their price objective on Tourmaline Oil from C$90.00 to C$85.00 and set a strong-buy rating on the stock in a research note on Friday, January 19th. National Bankshares cut their price target on Tourmaline Oil from C$80.00 to C$70.00 and set an outperform rating on the stock in a research note on Wednesday, January 10th. BMO Capital Markets cut their price target on Tourmaline Oil from C$78.00 to C$75.00 in a research note on Thursday, March 28th. Finally, CIBC raised their price target on Tourmaline Oil from C$72.50 to C$77.51 and gave the company an outperform rating in a research note on Monday, April 22nd. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of C$78.08.
Get Our Latest Stock Report on TOU
Tourmaline Oil Price Performance
Tourmaline Oil (TSE:TOU – Get Free Report) last posted its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.41 by C$0.59. The business had revenue of C$1.66 billion during the quarter, compared to analyst estimates of C$1.49 billion. Tourmaline Oil had a return on equity of 12.53% and a net margin of 35.87%. On average, analysts expect that Tourmaline Oil will post 4.710507 earnings per share for the current fiscal year.
Tourmaline Oil Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.30 dividend. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend was Thursday, March 14th. Tourmaline Oil’s payout ratio is presently 23.86%.
Insiders Place Their Bets
In related news, Senior Officer Mike Rose acquired 2,500 shares of the stock in a transaction dated Friday, March 22nd. The stock was bought at an average cost of C$59.42 per share, with a total value of C$148,543.00. In the last three months, insiders bought 12,630 shares of company stock valued at $743,877. Company insiders own 5.19% 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.
Further Reading
- Five stocks we like better than Tourmaline Oil
- What to Know About Investing in Penny Stocks
- 3 Stocks Leading the U.S. Agriculture Comeback
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- How to Use Put Debit Spreads to Profit From Falling Stocks
- How Investors Can Identify and Successfully Trade Gap-Down Stocks
- Alphabet Changes the Narrative with Its First-Ever Dividend
Receive News & Ratings for Tourmaline Oil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tourmaline Oil and related companies with MarketBeat.com's FREE daily email newsletter.