Tourmaline Oil (TSE:TOU – Get Rating) had its price target cut by TD Securities from C$64.00 to C$63.00 in a research report sent to investors on Thursday morning, BayStreet.CA reports. They currently have a buy rating on the stock.
A number of other analysts have also recently weighed in on the stock. Cormark boosted their price objective on shares of Tourmaline Oil from C$62.50 to C$65.00 in a research note on Thursday. Tudor Pickering & Holt boosted their price objective on shares of Tourmaline Oil from C$55.00 to C$56.00 and gave the stock a buy rating in a research note on Wednesday, January 19th. Raymond James boosted their price objective on shares of Tourmaline Oil from C$65.00 to C$70.00 and gave the stock a strong-buy rating in a research note on Thursday. Finally, CIBC boosted their price objective on shares of Tourmaline Oil from C$60.00 to C$65.00 in a research note on Thursday. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Buy and an average price target of C$56.12.
TOU stock opened at C$49.58 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.58 and a debt-to-equity ratio of 13.37. The company has a market capitalization of C$16.34 billion and a price-to-earnings ratio of 9.01. Tourmaline Oil has a 12 month low of C$22.21 and a 12 month high of C$53.23. The firm has a 50 day moving average of C$45.41 and a two-hundred day moving average of C$42.60.
The business also recently announced a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Friday, December 31st were paid a dividend of $0.18 per share. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Tuesday, December 14th. Tourmaline Oil’s dividend payout ratio is presently 11.45%.
In other Tourmaline Oil news, Senior Officer Mike Rose purchased 5,000 shares of the stock in a transaction on Friday, December 17th. The shares were purchased at an average price of C$38.30 per share, with a total value of C$191,503.50. Following the acquisition, the insider now directly owns 8,871,058 shares of the company’s stock, valued at approximately C$339,767,731.14. Insiders acquired a total of 15,000 shares of company stock worth $590,332 in the last three months.
Tourmaline Oil Company Profile (Get Rating)
Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. The company was incorporated in 2008 and is headquartered in Calgary, Canada.
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