Tourmaline Oil (TSE:TOU) Upgraded by TD Securities to Buy

TD Securities upgraded shares of Tourmaline Oil (TSE:TOUGet Rating) from a hold rating to a buy rating in a research report report published on Thursday morning, BayStreet.CA reports. They currently have C$96.00 target price on the stock, up from their previous target price of C$80.00.

Other equities analysts have also recently issued research reports about the company. Cormark boosted their price objective on Tourmaline Oil from C$70.00 to C$85.00 and gave the company a buy rating in a report on Monday, April 18th. Raymond James upped their target price on Tourmaline Oil from C$80.00 to C$85.00 and gave the stock a strong-buy rating in a report on Thursday, May 5th. BMO Capital Markets upped their target price on Tourmaline Oil from C$75.00 to C$80.00 in a report on Thursday, May 5th. National Bankshares lowered their target price on Tourmaline Oil from C$75.00 to C$62.50 in a report on Thursday, April 14th. Finally, Stifel Nicolaus upped their target price on Tourmaline Oil from C$87.25 to C$90.50 in a report on Friday, June 3rd. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of Buy and an average target price of C$68.61.

TSE TOU opened at C$66.93 on Thursday. The company has a market cap of C$22.41 billion and a P/E ratio of 10.81. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.49 and a current ratio of 0.51. The business’s 50 day moving average price is C$71.26 and its 200-day moving average price is C$57.28. Tourmaline Oil has a fifty-two week low of C$29.25 and a fifty-two week high of C$80.66.

Tourmaline Oil (TSE:TOUGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported C$0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$2.01 by C($1.24). The company had revenue of C$1.10 billion during the quarter. As a group, equities analysts predict that Tourmaline Oil will post 10.4100002 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Thursday, June 30th were given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.34%. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, June 14th. Tourmaline Oil’s payout ratio is presently 11.47%.

In related news, Senior Officer Drew E. Tumbach sold 11,479 shares of the company’s stock in a transaction dated Friday, April 8th. The stock was sold at an average price of C$60.05, for a total transaction of C$689,313.95. Following the transaction, the insider now directly owns 773,482 shares of the company’s stock, valued at approximately C$46,447,594.10. Also, Senior Officer Mike Rose bought 10,000 shares of Tourmaline Oil stock in a transaction that occurred on Monday, May 9th. The shares were acquired at an average cost of C$69.80 per share, for a total transaction of C$698,000.00. Following the completion of the transaction, the insider now directly owns 8,759,973 shares in the company, valued at C$611,446,115.40. Insiders have purchased a total of 30,767 shares of company stock worth $2,124,588 over the last ninety days.

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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