Stifel Nicolaus Increases Tourmaline Oil (TSE:TOU) Price Target to C$80.00

Tourmaline Oil (TSE:TOU) had its price target lifted by research analysts at Stifel Nicolaus from C$75.00 to C$80.00 in a note issued to investors on Tuesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 20.81% from the stock’s current price.

A number of other analysts also recently weighed in on the company. Scotiabank cut their target price on Tourmaline Oil from C$100.00 to C$90.00 and set an “outperform” rating for the company in a research report on Tuesday, January 16th. TD Securities cut their price objective on shares of Tourmaline Oil from C$75.00 to C$72.00 and set a “buy” rating for the company in a research report on Thursday, March 7th. CIBC increased their price objective on shares of Tourmaline Oil from C$72.50 to C$77.51 and gave the stock an “outperform” rating in a research note on Monday. Desjardins dropped their target price on shares of Tourmaline Oil from C$75.00 to C$74.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, ATB Capital cut their price target on shares of Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating for the company in a report on Wednesday, March 20th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Tourmaline Oil presently has an average rating of “Buy” and an average price target of C$78.08.

Tourmaline Oil Stock Performance

TSE TOU opened at C$66.22 on Tuesday. The firm has a 50-day moving average price of C$61.98 and a two-hundred day moving average price of C$63.08. Tourmaline Oil has a 12-month low of C$53.45 and a 12-month high of C$74.21. The company has a market capitalization of C$23.27 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.72 and a beta of 1.40. The company has a quick ratio of 0.47, a current ratio of 0.81 and a debt-to-equity ratio of 8.04.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.41 by C$0.59. The company had revenue of C$1.66 billion during the quarter, compared to the consensus estimate of C$1.49 billion. Tourmaline Oil had a net margin of 35.87% and a return on equity of 12.53%. Analysts anticipate that Tourmaline Oil will post 4.710507 earnings per share for the current year.

Insider Activity at Tourmaline Oil

In other news, Senior Officer Mike Rose purchased 5,000 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were purchased at an average cost of C$55.41 per share, with a total value of C$277,025.00. In other Tourmaline Oil news, Director Janet Weiss purchased 650 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were bought at an average price of C$43.66 per share, for a total transaction of C$28,376.40. Also, Senior Officer Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction that occurred on Monday, February 5th. The stock was acquired at an average cost of C$55.41 per share, for a total transaction of C$277,025.00. Insiders have bought a total of 13,280 shares of company stock valued at $772,253 in the last 90 days. 5.19% of the stock is owned by corporate insiders.

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.