Desjardins Increases Tourmaline Oil (TSE:TOU) Price Target to C$70.00

Tourmaline Oil (TSE:TOU) had its price objective hoisted by stock analysts at Desjardins from C$68.00 to C$70.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target indicates a potential upside of 12.18% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Raymond James Financial decreased their target price on shares of Tourmaline Oil from C$74.00 to C$72.00 in a research note on Thursday, November 6th. The Goldman Sachs Group raised shares of Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 13th. TD Securities downgraded Tourmaline Oil from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$73.00 to C$68.00 in a report on Tuesday, September 30th. Scotiabank reduced their price target on shares of Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating for the company in a report on Wednesday, January 21st. Finally, Capital One Financial raised shares of Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$71.56.

Tourmaline Oil Price Performance

TOU traded down C$0.11 on Monday, hitting C$62.40. 750,199 shares of the stock were exchanged, compared to its average volume of 2,063,504. The business has a 50-day moving average of C$61.49 and a two-hundred day moving average of C$60.65. Tourmaline Oil has a 12 month low of C$55.40 and a 12 month high of C$70.83. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. The firm has a market capitalization of C$24.15 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.72 and a beta of -0.03.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings data on Wednesday, November 5th. The company reported C$0.49 earnings per share (EPS) for the quarter. Tourmaline Oil had a net margin of 28.53% and a return on equity of 11.08%. The business had revenue of C$1.40 billion for the quarter. Sell-side analysts forecast that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Insider Activity

In related news, insider Mike Rose purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average price of C$59.83 per share, for a total transaction of C$598,300.00. Following the completion of the acquisition, the insider owned 8,197,742 shares of the company’s stock, valued at C$490,470,903.86. This represents a 0.12% increase in their position. 5.13% of the stock is currently owned by insiders.

Tourmaline Oil Company Profile

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.