Tourmaline Oil (TSE:TOU) Price Target Cut to C$74.00

Tourmaline Oil (TSE:TOU) had its price objective dropped by research analysts at Desjardins from C$75.00 to C$74.00 in a report released on Tuesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ target price would suggest a potential upside of 11.75% from the company’s previous close.

A number of other analysts have also recently weighed in on TOU. National Bankshares cut their price target on Tourmaline Oil from C$80.00 to C$70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 10th. BMO Capital Markets cut their target price on Tourmaline Oil from C$78.00 to C$75.00 in a research report on Thursday, March 28th. Jefferies Financial Group upped their price target on Tourmaline Oil from C$70.00 to C$75.00 and gave the company a “buy” rating in a report on Friday, April 12th. TD Securities dropped their price target on shares of Tourmaline Oil from C$75.00 to C$72.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. Finally, Canaccord Genuity Group reduced their price objective on shares of Tourmaline Oil from C$75.00 to C$72.50 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tourmaline Oil currently has an average rating of “Buy” and a consensus target price of C$78.08.

Tourmaline Oil Stock Performance

Shares of Tourmaline Oil stock opened at C$66.22 on Tuesday. The business has a 50-day simple moving average of C$61.98 and a 200-day simple moving average of C$63.08. The company has a market cap of C$23.27 billion, a PE ratio of 13.17, a P/E/G ratio of 1.72 and a beta of 1.40. Tourmaline Oil has a one year low of C$53.45 and a one year high of C$74.21. The company has a debt-to-equity ratio of 8.04, a quick ratio of 0.47 and a current ratio of 0.81.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 EPS for the quarter, topping the consensus estimate of C$1.41 by C$0.59. Tourmaline Oil had a net margin of 35.87% and a return on equity of 12.53%. The company had revenue of C$1.66 billion during the quarter, compared to analysts’ expectations of C$1.49 billion. On average, equities research analysts forecast that Tourmaline Oil will post 4.710507 EPS for the current fiscal year.

Insider Activity at Tourmaline Oil

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