Tourmaline Oil (TSE:TOU) PT Lowered to C$74.00

Tourmaline Oil (TSE:TOU) had its price target lowered by research analysts at Canaccord Genuity Group from C$75.00 to C$74.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s price objective would indicate a potential upside of 17.13% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Jefferies Financial Group decreased their price objective on shares of Tourmaline Oil from C$75.00 to C$67.00 and set a “buy” rating for the company in a research note on Monday, September 16th. National Bankshares set a C$72.50 price target on Tourmaline Oil and gave the stock a “buy” rating in a report on Tuesday, September 24th. Desjardins boosted their price objective 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. Cormark raised Tourmaline Oil to a “hold” rating in a research report on Monday, September 23rd. Finally, Scotiabank increased their price target on shares of Tourmaline Oil from C$90.00 to C$93.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$77.86.

Tourmaline Oil Stock Down 0.2 %

Shares of TSE:TOU opened at C$63.18 on Tuesday. The business’s 50 day moving average is C$61.67 and its 200 day moving average is C$63.13. Tourmaline Oil has a 12-month low of C$53.45 and a 12-month high of C$74.21. The stock has a market cap of C$23.45 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.72 and a beta of 1.30. The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, July 31st. The company reported C$0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.09 by C($0.37). The firm had revenue of C$1.31 billion during the quarter, compared to the consensus estimate of C$1.37 billion. Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. On average, sell-side analysts forecast that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jill Terilee Angevine purchased 1,300 shares of Tourmaline Oil stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of C$61.29 per share, for a total transaction of C$79,677.00. In related news, Senior Officer Mike Rose bought 2,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of C$59.54 per share, with a total value of C$148,849.50. Also, Director Jill Terilee Angevine bought 1,300 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of C$61.29 per share, with a total value of C$79,677.00. Insiders have purchased a total of 36,800 shares of company stock worth $2,233,566 over the last ninety days. Company insiders own 5.13% 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.