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

Tourmaline Oil (TSE:TOU) had its price objective increased by stock analysts at Desjardins from C$72.00 to C$75.00 in a research note issued on Tuesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price target would indicate a potential upside of 22.23% from the company’s current price.

Other research analysts have also issued reports about the stock. CIBC boosted their target price on shares of Tourmaline Oil from C$77.50 to C$80.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Stifel Nicolaus boosted their target price on shares of Tourmaline Oil from C$75.00 to C$80.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Canaccord Genuity Group upped their price objective on shares of Tourmaline Oil from C$72.50 to C$73.50 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, UBS Group upgraded shares of Tourmaline Oil to a “hold” rating in a research note on Thursday, June 20th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Tourmaline Oil has an average rating of “Buy” and a consensus target price of C$79.04.

Tourmaline Oil Trading Up 1.0 %

Shares of TOU stock traded up C$0.63 during mid-day trading on Tuesday, reaching C$61.36. The company’s stock had a trading volume of 5,231,393 shares, compared to its average volume of 2,418,862. Tourmaline Oil has a 12-month low of C$53.45 and a 12-month high of C$74.21. The firm has a market capitalization of C$21.58 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.72 and a beta of 1.39. 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 company’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 related news, Senior Officer Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of C$60.56 per share, with a total value of C$302,778.50. Insiders purchased a total of 15,000 shares of company stock valued at $948,485 over the last quarter. 5.41% 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.