CIBC Cuts Tourmaline Oil (TSE:TOU) Price Target to C$72.50

Tourmaline Oil (TSE:TOU) had its price target lowered by CIBC from C$80.00 to C$72.50 in a report released on Thursday,BayStreet.CA reports.

TOU has been the subject of a number of other research reports. Cormark upgraded Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a report on Friday, March 7th. National Bankshares lifted their target price on Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Desjardins lowered Tourmaline Oil from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$80.00 to C$74.00 in a report on Wednesday, March 19th. Raymond James set a C$78.00 price target on Tourmaline Oil and gave the company an “outperform” rating in a report on Tuesday, April 8th. Finally, Jefferies Financial Group upped their price objective on shares of Tourmaline Oil from C$73.00 to C$76.00 in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$77.75.

Tourmaline Oil Stock Performance

Shares of TOU stock opened at C$59.47 on Thursday. The company has a fifty day moving average price of C$65.94 and a two-hundred day moving average price of C$65.20. Tourmaline Oil has a one year low of C$55.27 and a one year high of C$70.83. The stock has a market cap of C$22.16 billion, a P/E ratio of 13.43, a P/E/G ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47.

Tourmaline Oil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.36%. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, March 14th. Tourmaline Oil’s dividend payout ratio (DPR) is currently 31.61%.

Insiders Place Their Bets

In related news, Director Jill Terilee Angevine acquired 1,000 shares of the stock in a transaction on Friday, January 31st. The shares were purchased at an average price of C$66.63 per share, for a total transaction of C$66,630.00. Also, Senior Officer Mike Rose bought 2,500 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were bought at an average price of C$67.43 per share, with a total value of C$168,575.00. Insiders acquired 13,500 shares of company stock worth $883,369 in the last quarter. 5.13% of the stock is currently owned by corporate insiders.

Tourmaline Oil Company Profile

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.