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 price target trimmed by TD Securities from C$76.00 to C$73.00 in a research note released on Friday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on the company. UBS Group reduced their price target on Tourmaline Oil from C$74.00 to C$71.00 in a research report on Thursday, April 17th. ATB Capital increased their price target on Tourmaline Oil from C$76.00 to C$77.00 and gave the company an "outperform" rating in a research note on Thursday. Desjardins increased their price objective on Tourmaline Oil from C$74.00 to C$76.00 and gave the stock a "hold" rating in a research report on Tuesday, April 15th. Raymond James Financial cut Tourmaline Oil from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from C$76.00 to C$74.00 in a research report on Thursday. Finally, Royal Bank Of Canada reduced their target price on Tourmaline Oil from C$78.00 to C$75.00 in a report on Friday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Tourmaline Oil has an average rating of "Moderate Buy" and a consensus target price of C$76.18.

Tourmaline Oil Stock Down 2.3%

Shares of TOU traded down C$1.36 on Friday, hitting C$57.61. The company's stock had a trading volume of 8,222,042 shares, compared to its average volume of 2,184,125. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. The firm's fifty day moving average price is C$63.55 and its 200-day moving average price is C$64.58. Tourmaline Oil has a fifty-two week low of C$55.27 and a fifty-two week high of C$70.83. The firm has a market capitalization of C$21.47 billion, a price-to-earnings ratio of 13.01, a P/E/G ratio of 1.72 and a beta of 1.30.

Tourmaline Oil Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Friday, August 8th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.4%. Tourmaline Oil's payout ratio is 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 stock was sold at an average price of C$64.94, for a total transaction of C$3,636,561.60. Also, Senior Officer Mike Rose purchased 5,000 shares of the company's stock in a transaction on Monday, July 7th. The stock was acquired at an average cost of C$62.92 per share, for a total transaction of C$314,601.00. Insiders have bought 40,000 shares of company stock worth $2,547,532 over the last three months. 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.