Tourmaline Oil (TSE:TOU) Price Target Lowered to C$73.00 at TD Securities

Key Points

• TD Securities reduced its price target for Tourmaline Oil (TSE:TOU) from C$76.00 to C$73.00, maintaining a "buy" rating, indicating a potential upside of 26.36% from the current stock price.
• Other analysts have also adjusted their targets, with Royal Bank of Canada lowering theirs to C$75.00, while Desjardins increased theirs to C$76.00, reflecting varying sentiments in the market.
• The stock's recent trading performance saw a decline of C$1.20, closing at C$57.77, with a current average rating of "Moderate Buy" and an average price target of C$76.18.

Tourmaline Oil (TSE:TOU - Free Report) had its target price trimmed by TD Securities from C$76.00 to C$73.00 in a research report report published on Friday,BayStreet.CA reports. The firm currently has a buy rating on the stock.

Several other research firms have also commented on TOU. Desjardins increased their price objective on shares of Tourmaline Oil from C$74.00 to C$76.00 and gave the company a "hold" rating in a research report on Tuesday, April 15th. Raymond James Financial downgraded shares of Tourmaline Oil from a "moderate buy" rating to a "hold" rating and reduced their target price for the company from C$76.00 to C$74.00 in a research note on Thursday, July 31st. ATB Capital raised their price target on shares of Tourmaline Oil from C$76.00 to C$77.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. UBS Group cut their target price on shares of Tourmaline Oil from C$74.00 to C$71.00 in a research report on Thursday, April 17th. Finally, CIBC cut their target price on shares of Tourmaline Oil from C$75.00 to C$74.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Tourmaline Oil has a consensus rating of "Moderate Buy" and an average target price of C$76.18.

Tourmaline Oil Price Performance

Shares of TSE:TOU traded up C$0.07 during midday trading on Friday, reaching C$57.68. 10,365,250 shares of the company were exchanged, compared to its average volume of 2,238,338. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13. The business's fifty day moving average is C$63.42 and its two-hundred day moving average is C$64.50. 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$21.49 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30.

Tourmaline Oil Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Friday, August 8th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.4%. Tourmaline Oil's dividend payout ratio is currently 31.61%.

Insider Transactions at Tourmaline Oil

In related news, Senior Officer William Scott Kirker sold 56,000 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of C$64.94, for a total value of C$3,636,561.60. Also, Senior Officer Mike Rose acquired 5,000 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was purchased at an average cost of C$62.92 per share, with a total value of C$314,601.00. Insiders purchased 40,000 shares of company stock valued at $2,547,532 in the last three months. 5.13% of the stock is currently owned by 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.