Tourmaline Oil (TSE:TOU) Given a C$68.00 Price Target at Desjardins

Desjardins set a C$68.00 price target on Tourmaline Oil (TSE:TOU) in a research report sent to investors on Friday,BayStreet.CA reports. The firm currently has a hold rating on the stock.

Other research analysts also recently issued research reports about the stock. BMO Capital Markets downgraded shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and upped their target price for the stock from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a report on Friday, June 26th. Finally, Canaccord Genuity Group downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective on the stock. in a research report on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$70.40.

Tourmaline Oil Stock Up 0.2%

TSE:TOU opened at C$62.49 on Friday. The company has a market capitalization of C$24.27 billion, a PE ratio of 34.52, a P/E/G ratio of 1.72 and a beta of -0.27. The company has a debt-to-equity ratio of 7.14, a current ratio of 0.88 and a quick ratio of 0.47. Tourmaline Oil has a 1-year low of C$56.72 and a 1-year high of C$70.57. The firm’s 50-day moving average price is C$62.90 and its 200-day moving average price is C$62.96.

Tourmaline Oil (TSE:TOU) last released its earnings results on Wednesday, May 6th. The company reported C$1.69 EPS for the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%.The business had revenue of C$1.78 billion for the quarter. On average, equities analysts predict that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Monday, June 15th. Tourmaline Oil’s payout ratio is presently 110.50%.

Insider Buying and Selling at Tourmaline Oil

In other Tourmaline Oil news, insider James William Alexander Heard purchased 1,000 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was acquired at an average price of C$58.88 per share, for a total transaction of C$58,880.00. Following the completion of the purchase, the insider directly owned 67,476 shares in the company, valued at approximately C$3,972,986.88. The trade was a 1.50% increase in their position. Also, insider Mike Rose purchased 2,500 shares of Tourmaline Oil stock in a transaction that occurred on Friday, June 26th. The stock was bought at an average cost of C$59.84 per share, with a total value of C$149,600.00. Following the completion of the transaction, the insider owned 8,115,178 shares of the company’s stock, valued at C$485,612,251.52. The trade was a 0.03% increase in their ownership of the stock. Insiders have acquired 44,266 shares of company stock valued at $2,760,824 over the last ninety days. 5.13% of the stock is currently owned by corporate insiders.

About Tourmaline Oil

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.