Tourmaline Oil (TSE:TOU) Given a C$78.00 Price Target by Raymond James Analysts

Raymond James set a C$78.00 price objective on Tourmaline Oil (TSE:TOU) in a research note published on Tuesday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts have also recently issued reports on the company. Desjardins cut Tourmaline Oil from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$80.00 to C$74.00 in a report on Wednesday, March 19th. UBS Group lifted their price target on Tourmaline Oil from C$79.00 to C$80.00 in a research note on Thursday, February 13th. CIBC boosted their price target on Tourmaline Oil from C$75.00 to C$80.00 in a research report on Friday, January 17th. Jefferies Financial Group raised their price objective on Tourmaline Oil from C$73.00 to C$76.00 in a report on Monday, December 16th. Finally, Cormark raised shares of Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research note on Friday, March 7th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$77.75.

Tourmaline Oil Stock Performance

TOU opened at C$57.00 on Tuesday. The company has a market cap of C$21.24 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.72 and a beta of 1.30. The firm’s fifty day simple moving average is C$66.09 and its two-hundred day simple moving average is C$65.20. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. Tourmaline Oil has a 52-week low of C$55.27 and a 52-week high of C$70.83.

Tourmaline Oil Increases Dividend

The company also recently disclosed 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 is a boost from Tourmaline Oil’s previous quarterly dividend of $0.35. This represents a $2.00 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Friday, March 14th. Tourmaline Oil’s dividend payout ratio (DPR) is presently 31.61%.

Insiders Place Their Bets

In related news, Director Jill Terilee Angevine acquired 1,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average price of C$66.63 per share, with a total value of C$66,630.00. Also, Senior Officer Mike Rose bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was bought at an average price of C$63.30 per share, with a total value of C$158,252.50. Insiders have bought 13,500 shares of company stock valued at $883,369 over the last ninety days. Company insiders own 5.13% of the company’s stock.

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.