Tourmaline Oil (TSE:TOU) Price Target Cut to C$72.50

Tourmaline Oil (TSE:TOU) had its target price decreased by equities research analysts at Canaccord Genuity Group from C$75.00 to C$72.50 in a research note issued to investors on Wednesday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 11.13% from the stock’s previous close.

A number of other brokerages also recently commented on TOU. Desjardins reduced their price objective on shares of Tourmaline Oil from C$76.00 to C$75.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. ATB Capital reduced their price objective on shares of Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating for the company in a research note on Wednesday, March 20th. National Bankshares reduced their price objective on shares of Tourmaline Oil from C$80.00 to C$70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 10th. Raymond James cut their price target on shares of Tourmaline Oil from C$90.00 to C$85.00 and set a “strong-buy” rating on the stock in a report on Friday, January 19th. Finally, Jefferies Financial Group lifted their price target on shares of Tourmaline Oil from C$70.00 to C$75.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$77.38.

Tourmaline Oil Stock Up 0.0 %

TSE:TOU traded up C$0.03 during trading hours on Wednesday, reaching C$65.24. The company’s stock had a trading volume of 1,144,032 shares, compared to its average volume of 2,038,894. The company has a market capitalization of C$22.93 billion, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 1.72 and a beta of 1.40. Tourmaline Oil has a 12 month low of C$53.45 and a 12 month 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. The stock has a 50 day moving average price of C$61.03 and a two-hundred day moving average price of C$63.13.

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

Insider Buying and Selling at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer Mike Rose purchased 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 other news, Director Janet Weiss acquired 650 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was acquired at an average price of C$43.66 per share, for a total transaction of C$28,376.40. Also, Senior Officer Mike Rose acquired 5,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was purchased at an average price of C$55.41 per share, with a total value of C$277,025.00. Over the last three months, insiders have acquired 15,180 shares of company stock valued at $880,681. 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.