Jefferies Financial Group Cuts Tourmaline Oil (TSE:TOU) Price Target to C$70.00

Tourmaline Oil (TSE:TOU) had its price target reduced by Jefferies Financial Group from C$72.00 to C$70.00 in a note issued to investors on Tuesday,BayStreet.CA reports. Jefferies Financial Group’s price objective would suggest a potential upside of 16.94% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. The Goldman Sachs Group raised Tourmaline Oil to a “strong-buy” rating in a report on Monday, October 13th. Desjardins raised shares of Tourmaline Oil from a “hold” rating to a “buy” rating and set a C$68.00 price objective on the stock in a research report on Monday, November 24th. Scotiabank reduced their target price on shares of Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Raymond James Financial decreased their price target on shares of Tourmaline Oil from C$74.00 to C$72.00 in a research note on Thursday, November 6th. Finally, CIBC cut their price objective on shares of Tourmaline Oil from C$71.00 to C$66.00 in a research report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$71.89.

Tourmaline Oil Stock Performance

TSE TOU traded up C$0.24 on Tuesday, hitting C$59.86. 1,343,009 shares of the stock were exchanged, compared to its average volume of 2,159,977. The company has a market capitalization of C$23.17 billion, a PE ratio of 17.10, a P/E/G ratio of 1.72 and a beta of -0.03. 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’s fifty day moving average is C$61.51 and its 200 day moving average is C$60.70. Tourmaline Oil has a 52 week low of C$55.40 and a 52 week high of C$70.83.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings data on Wednesday, November 5th. The company reported C$0.49 earnings per share for the quarter. Tourmaline Oil had a net margin of 28.53% and a return on equity of 11.08%. The company had revenue of C$1.40 billion for the quarter. Research analysts anticipate that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Mike Rose bought 10,000 shares of Tourmaline Oil stock in a transaction dated Friday, November 7th. The shares were bought at an average cost of C$59.83 per share, with a total value of C$598,300.00. Following the acquisition, the insider owned 8,197,742 shares in the company, valued at C$490,470,903.86. This trade represents a 0.12% increase in their position. 5.13% of the stock is owned by corporate insiders.

Tourmaline Oil Company Profile

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.