Tourmaline Oil (TSE:TOU) Price Target Raised to C$75.00

Tourmaline Oil (TSE:TOU) had its target price raised by ATB Cormark Capital Markets from C$70.00 to C$75.00 in a report published on Thursday morning,BayStreet reports. ATB Cormark Capital Markets currently has an outperform rating on the stock.

A number of other research analysts have also issued reports on TOU. The Goldman Sachs Group lowered shares of Tourmaline Oil from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, October 1st. TD raised their price objective on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Jefferies Financial Group lifted their price objective on Tourmaline Oil from C$72.00 to C$74.00 in a report on Friday, July 24th. Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Desjardins set a C$68.00 target price on Tourmaline Oil and gave the stock a “hold” rating in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$70.80.

Tourmaline Oil Stock Performance

Shares of TOU opened at C$66.50 on Thursday. The company has a debt-to-equity ratio of 8.24, a quick ratio of 0.47 and a current ratio of 0.72. The stock has a market capitalization of C$25.84 billion, a P/E ratio of 72.28, a P/E/G ratio of 1.72 and a beta of -0.27. The company’s fifty day moving average is C$62.67 and its two-hundred day moving average is C$62.60. Tourmaline Oil has a 1 year low of C$57.95 and a 1 year high of C$70.57.

Tourmaline Oil (TSE:TOU) last released its earnings results on Wednesday, July 29th. The company reported C$0.47 EPS for the quarter. Tourmaline Oil had a net margin of 6.50% and a return on equity of 2.37%. The company had revenue of C$1.50 billion during the quarter. On average, sell-side analysts predict that Tourmaline Oil will post 5.68 earnings per share for the current year.

Insider Buying and Selling at Tourmaline Oil

In related news, insider Mike Rose purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, October 6th. The stock was acquired at an average price of C$62.06 per share, for a total transaction of C$310,300.00. Following the acquisition, the insider directly owned 8,162,678 shares of the company’s stock, valued at C$506,575,796.68. This trade represents a 0.06% increase in their position. Over the last 90 days, insiders have acquired 35,000 shares of company stock worth $2,143,250. Corporate insiders own 5.13% of the company’s stock.

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.