Tourmaline Oil (TSE:TOU) Price Target Cut to C$72.50 by Analysts at CIBC

Tourmaline Oil (TSE:TOU) had its price target decreased by CIBC from C$80.00 to C$72.50 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 21.91% from the stock’s current price.

Several other research analysts have also weighed in on the stock. Cormark upgraded shares of Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research note on Friday, March 7th. Desjardins lowered Tourmaline Oil from a “buy” rating to a “hold” rating and cut their price objective for the stock from C$80.00 to C$74.00 in a report on Wednesday, March 19th. UBS Group boosted their target price on Tourmaline Oil from C$79.00 to C$80.00 in a research note on Thursday, February 13th. Raymond James set a C$78.00 price target on Tourmaline Oil and gave the stock an “outperform” rating in a research note on Tuesday. Finally, National Bankshares increased their price objective on Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$77.75.

Tourmaline Oil Trading Up 4.3 %

Shares of TSE TOU opened at C$59.47 on Thursday. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13. Tourmaline Oil has a one year low of C$55.27 and a one year high of C$70.83. The business has a 50-day moving average price of C$65.94 and a two-hundred day moving average price of C$65.20. The firm has a market capitalization of C$22.16 billion, a PE ratio of 13.43, a PEG ratio of 1.72 and a beta of 1.30.

Insider Transactions at Tourmaline Oil

In related news, Senior Officer Mike Rose bought 2,500 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were acquired at an average price of C$67.43 per share, with a total value of C$168,575.00. Also, Director Jill Terilee Angevine bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average price of C$66.63 per share, with a total value of C$66,630.00. Over the last three months, insiders bought 13,500 shares of company stock worth $883,369. 5.13% of the stock is owned by insiders.

About Tourmaline Oil

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.