Jefferies Financial Group Forecasts Strong Price Appreciation for Tourmaline Oil (TSE:TOU) Stock

by · The Markets Daily

Tourmaline Oil (TSE:TOU – Free Report) had its target price lifted by Jefferies Financial Group from C$67.00 to C$73.00 in a report issued on Thursday,BayStreet.CA reports.

Several other analysts have also recently issued reports on TOU. Desjardins upped their target price on Tourmaline Oil from C$72.00 to C$75.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Scotiabank upped their price target on Tourmaline Oil from C$90.00 to C$93.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Cormark raised Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd. National Bankshares set a C$72.50 price target on Tourmaline Oil and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, Canaccord Genuity Group decreased their price target on Tourmaline Oil from C$75.00 to C$74.00 in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tourmaline Oil has an average rating of “Moderate Buy” and an average target price of C$78.41.

Get Our Latest Report on Tourmaline Oil

Tourmaline Oil Price Performance

Shares of TOU traded down C$1.27 during trading hours on Thursday, hitting C$61.89. 654,383 shares of the stock were exchanged, compared to its average volume of 2,400,448. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.47 and a current ratio of 1.11. The stock’s 50-day moving average price is C$62.09 and its two-hundred day moving average price is C$63.08. The company has a market cap of C$22.97 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. Tourmaline Oil has a 12-month low of C$53.45 and a 12-month high of C$70.00.

Tourmaline Oil (TSE:TOU – Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported C$1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.26 by C($0.26). The company had revenue of C$1.47 billion during the quarter, compared to analysts’ expectations of C$1.63 billion. Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. Research analysts expect that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Cuts Dividend

The firm also recently declared a None dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.50 dividend. This represents a yield of 2.26%. The ex-dividend date of this dividend was Friday, September 13th. Tourmaline Oil’s dividend payout ratio is currently 33.18%.

Insider Buying and Selling at Tourmaline Oil

In related news, Director Jill Terilee Angevine purchased 1,300 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of C$61.29 per share, for a total transaction of C$79,677.00. In other news, Senior Officer Mike Rose acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average cost of C$60.56 per share, for a total transaction of C$302,778.50. Also, Director Jill Terilee Angevine bought 1,300 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of C$61.29 per share, for a total transaction of C$79,677.00. Insiders have bought 39,300 shares of company stock worth $2,389,230 over the last quarter. 5.13% of the stock is owned by corporate insiders.

Tourmaline Oil Company Profile

(Get Free Report)

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.

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