Tourmaline Oil (TSE:TOU) Stock Price Expected to Rise, CIBC Analyst Says

Tourmaline Oil (TSE:TOU) had its price objective boosted by stock analysts at CIBC from C$75.00 to C$80.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 19.17% from the stock’s previous close.

A number of other analysts have also commented on the company. UBS Group boosted their target price on Tourmaline Oil from C$70.00 to C$73.00 in a research report on Monday, December 9th. Cormark upgraded Tourmaline Oil to a “hold” rating in a research report on Monday, September 23rd. Canaccord Genuity Group lowered their price target on Tourmaline Oil from C$75.00 to C$74.00 in a research report on Tuesday, October 22nd. TD Securities decreased their price objective on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Finally, National Bankshares raised their target price on Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$78.42.

Tourmaline Oil Price Performance

TSE:TOU opened at C$67.13 on Friday. Tourmaline Oil has a 12-month low of C$53.45 and a 12-month high of C$70.65. The company’s 50-day moving average is C$64.99 and its two-hundred day moving average is C$62.74. The company has a current ratio of 1.11, a quick ratio of 0.47 and a debt-to-equity ratio of 10.24. The firm has a market cap of C$24.92 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, November 6th. The company reported C$1.00 EPS for the quarter, missing the consensus estimate of C$1.26 by C($0.26). The company had revenue of C$1.47 billion for the quarter, compared to analyst estimates of C$1.63 billion. Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. Research analysts expect that Tourmaline Oil will post 5.6809091 EPS for the current year.

Insider Activity

In other Tourmaline Oil news, Senior Officer Mike Rose purchased 2,500 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was acquired at an average cost of C$66.44 per share, with a total value of C$166,109.00. Insiders have bought a total of 12,500 shares of company stock valued at $805,187 over the last 90 days. 5.13% of the stock is currently owned by company insiders.

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.