Tourmaline Oil (TSE:TOU) had its price target increased by investment analysts at Canaccord Genuity to C$47.50 in a report issued on Wednesday, Stock Target Advisor reports. The brokerage presently has a “na” rating on the stock. Canaccord Genuity’s price target would indicate a potential upside of 12.99% from the stock’s previous close.
A number of other research firms have also recently commented on TOU. National Bank Financial raised their target price on Tourmaline Oil to C$40.00 and gave the company an “outperform” rating in a research note on Monday, June 14th. Raymond James set a C$44.50 price target on shares of Tourmaline Oil and gave the stock a “strong-buy” rating in a research note on Tuesday, August 31st. Tudor Pickering reissued a “buy” rating and set a C$44.00 price objective on shares of Tourmaline Oil in a research note on Friday, July 16th. National Bankshares raised their target price on shares of Tourmaline Oil from C$37.50 to C$40.00 and gave the company an “outperform” rating in a research note on Monday, June 14th. Finally, Cormark boosted their price target on Tourmaline Oil from C$45.00 to C$50.00 in a research report on Friday, July 30th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$45.19.
TOU stock traded up C$1.67 during trading on Wednesday, reaching C$42.04. The company had a trading volume of 1,997,415 shares, compared to its average volume of 1,393,428. The company has a debt-to-equity ratio of 17.36, a current ratio of 0.59 and a quick ratio of 0.54. Tourmaline Oil has a 52 week low of C$15.42 and a 52 week high of C$43.09. The business has a 50 day moving average of C$33.90 and a 200 day moving average of C$29.84. The company has a market cap of C$12.56 billion and a P/E ratio of 9.25.
About Tourmaline Oil
Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. The company was incorporated in 2008 and is headquartered in Calgary, Canada.
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