Tourmaline Oil (TSE:TOU) Downgraded by Desjardins to Hold

Tourmaline Oil (TSE:TOU) was downgraded by equities researchers at Desjardins from a “buy” rating to a “hold” rating in a report released on Wednesday, Marketbeat reports. They currently have a C$74.00 price objective on the stock, down from their prior price objective of C$80.00. Desjardins’ price target points to a potential upside of 9.71% from the company’s previous close.

TOU has been the subject of several other reports. CIBC lifted their price objective on Tourmaline Oil from C$75.00 to C$80.00 in a report on Friday, January 17th. UBS Group lifted their price objective on Tourmaline Oil from C$79.00 to C$80.00 in a report on Thursday, February 13th. National Bankshares lifted their price objective on Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Jefferies Financial Group boosted their target price on shares of Tourmaline Oil from C$73.00 to C$76.00 in a report on Monday, December 16th. Finally, Cormark upgraded shares of Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a report on Friday, March 7th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$78.20.

Tourmaline Oil Stock Performance

TOU stock opened at C$67.45 on Wednesday. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. The business has a 50-day moving average price of C$67.09 and a 200 day moving average price of C$64.60. The company has a market capitalization of C$25.14 billion, a P/E ratio of 15.23, a PEG ratio of 1.72 and a beta of 1.30. Tourmaline Oil has a 1-year low of C$55.27 and a 1-year high of C$70.83.

Insider Activity

In related news, Director Jill Terilee Angevine acquired 1,000 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were purchased at an average price of C$66.63 per share, for a total transaction of C$66,630.00. Also, Senior Officer Mike Rose bought 2,500 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was purchased at an average price of C$66.44 per share, for a total transaction of C$166,109.00. Insiders have purchased a total of 16,000 shares of company stock worth $1,054,314 over the last 90 days. 5.13% of the stock is currently owned by corporate insiders.

Tourmaline Oil Company Profile

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.