Tourmaline Oil (TSE:TOU – Free Report) had its price target reduced by Desjardins from C$74.00 to C$72.00 in a report released on Tuesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.
A number of other brokerages also recently weighed in on TOU. Canaccord Genuity Group upped their target price on Tourmaline Oil from C$72.50 to C$73.50 and gave the company a buy rating in a report on Thursday, May 2nd. UBS Group raised shares of Tourmaline Oil to a hold rating in a research report on Thursday, June 20th. Jefferies Financial Group boosted their target price on shares of Tourmaline Oil from C$70.00 to C$75.00 and gave the stock a buy rating in a research report on Friday, April 12th. CIBC raised their price target on shares of Tourmaline Oil from C$77.50 to C$80.00 and gave the company an outperform rating in a report on Thursday, May 2nd. Finally, Stifel Nicolaus lifted their price objective on shares of Tourmaline Oil from C$75.00 to C$80.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Buy and an average target price of C$78.21.
View Our Latest Report on Tourmaline Oil
Tourmaline Oil Trading Down 0.6 %
Tourmaline Oil Cuts Dividend
The firm also recently disclosed a None dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Friday, August 9th will be paid a $0.50 dividend. The ex-dividend date is Friday, August 9th. Tourmaline Oil’s dividend payout ratio is 25.65%.
Insider Activity
In other Tourmaline Oil news, Senior Officer Mike Rose purchased 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased at an average price of C$66.43 per share, with a total value of C$166,064.50. In the last three months, insiders have acquired 10,000 shares of company stock worth $645,707. Corporate insiders own 5.41% of the company’s stock.
About Tourmaline Oil
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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