National Bankshares Reiterates C$72.50 Price Target for Tourmaline Oil (TSE:TOU)

National Bankshares set a C$72.50 price objective on Tourmaline Oil (TSE:TOU) in a report issued on Tuesday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Canaccord Genuity Group lifted their price target on shares of Tourmaline Oil from C$73.50 to C$75.00 and gave the company a buy rating in a research report on Tuesday, August 13th. Desjardins boosted their price target on Tourmaline Oil from C$72.00 to C$75.00 and gave the stock a buy rating in a research report on Tuesday, August 13th. Scotiabank lifted their price objective 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. UBS Group raised Tourmaline Oil to a hold rating in a research note on Thursday, June 20th. Finally, Jefferies Financial Group lowered their price target on Tourmaline Oil from C$75.00 to C$67.00 and set a buy rating for the company in a research report on Monday, September 16th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tourmaline Oil has an average rating of Moderate Buy and an average target price of C$78.38.

Tourmaline Oil Price Performance

Shares of Tourmaline Oil stock opened at C$59.04 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24. The business has a 50 day moving average of C$60.07 and a 200 day moving average of C$62.82. The company has a market cap of C$20.81 billion, a PE ratio of 13.99, a P/E/G ratio of 1.72 and a beta of 1.31. Tourmaline Oil has a 52 week low of C$53.45 and a 52 week high of C$74.21.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, July 31st. The company reported C$0.72 earnings per share for the quarter, missing the consensus estimate of C$1.09 by C($0.37). The firm had revenue of C$1.31 billion for the quarter, compared to the consensus estimate of C$1.37 billion. Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. As a group, equities research analysts forecast that Tourmaline Oil will post 6.5144766 earnings per share for the current year.

Tourmaline Oil Cuts Dividend

The business also recently disclosed a None dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 27th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a dividend yield of 2.26%. Tourmaline Oil’s payout ratio is currently 33.18%.

Insiders Place Their Bets

In other news, Director Jill Terilee Angevine bought 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was bought at an average price of C$59.85 per share, with a total value of C$149,625.00. In other Tourmaline Oil news, Senior Officer Mike Rose purchased 5,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was acquired at an average cost of C$61.59 per share, for a total transaction of C$307,945.00. Also, Director Jill Terilee Angevine acquired 2,500 shares of Tourmaline Oil stock in a transaction dated Wednesday, September 25th. The shares were bought at an average price of C$59.85 per share, for a total transaction of C$149,625.00. Insiders bought a total of 31,800 shares of company stock worth $1,915,381 over the last three months. 5.41% of the stock is currently owned by company insiders.

Tourmaline Oil Company Profile

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.