Canaccord Genuity Group Increases Tourmaline Oil (TSE:TOU) Price Target to C$75.00

Tourmaline Oil (TSE:TOU) had its price target boosted by equities researchers at Canaccord Genuity Group from C$73.50 to C$75.00 in a report issued on Tuesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 22.23% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Stifel Nicolaus lifted their price objective on Tourmaline Oil from C$75.00 to C$80.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. UBS Group upgraded Tourmaline Oil to a “hold” rating in a report on Thursday, June 20th. Scotiabank upped their price target on Tourmaline Oil from C$90.00 to C$93.00 and gave the company an “outperform” rating in a research report on Tuesday. Desjardins upped their target price on Tourmaline Oil from C$72.00 to C$75.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, CIBC increased their price objective on Tourmaline Oil from C$77.50 to C$80.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. One equities 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$79.04.

Tourmaline Oil Trading Up 1.0 %

Tourmaline Oil stock traded up C$0.63 during trading hours on Tuesday, hitting C$61.36. The stock had a trading volume of 5,231,393 shares, compared to its average volume of 2,418,862. The company has a quick ratio of 0.47, a current ratio of 0.89 and a debt-to-equity ratio of 9.61. The stock has a market cap of C$21.58 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 1.72 and a beta of 1.39. Tourmaline Oil has a one year low of C$53.45 and a one year high of C$74.21. The business’s 50 day simple moving average is C$61.81 and its 200-day simple moving average is C$62.36.

Insider Activity at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer Mike Rose bought 2,500 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were acquired at an average cost of C$66.43 per share, with a total value of C$166,064.50. Insiders have bought a total of 15,000 shares of company stock valued at $948,485 in the last ninety days. Company insiders own 5.41% of the company’s stock.

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.