Tourmaline Oil (TSE:TOU) Price Target Lowered to C$72.00 at Royal Bank Of Canada

Tourmaline Oil (TSE:TOU) had its price objective dropped by equities research analysts at Royal Bank Of Canada from C$76.00 to C$72.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 13.05% from the company’s current price.

Other analysts have also recently issued reports about the stock. Desjardins increased their target price on shares of Tourmaline Oil from C$68.00 to C$70.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Raymond James Financial raised their target price on shares of Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday. Scotiabank decreased their target price on Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating for the company in a research note on Wednesday, January 21st. Canadian Imperial Bank of Commerce lowered their target price on Tourmaline Oil from C$71.00 to C$66.00 in a report on Tuesday, January 13th. Finally, ATB Cormark Capital Markets reduced their price objective on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Tourmaline Oil has an average rating of “Buy” and an average target price of C$70.78.

Tourmaline Oil Stock Performance

TSE:TOU traded up C$1.80 during trading hours on Friday, reaching C$63.69. 3,982,767 shares of the stock were exchanged, compared to its average volume of 2,316,453. The stock has a market capitalization of C$24.65 billion, a P/E ratio of 18.20, a P/E/G ratio of 1.72 and a beta of 0.00. The firm has a 50 day simple moving average of C$61.69 and a 200-day simple moving average of C$61.16. The company has a quick ratio of 0.47, a current ratio of 0.48 and a debt-to-equity ratio of 10.85. Tourmaline Oil has a 52 week low of C$55.40 and a 52 week high of C$70.73.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings results on Wednesday, March 4th. The company reported C($1.72) earnings per share (EPS) for the quarter. Tourmaline Oil had a net margin of 27.57% and a return on equity of 8.30%. The firm had revenue of C$1.66 billion for the quarter. As a group, sell-side analysts forecast that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tourmaline Oil news, insider Mike Rose bought 10,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were purchased at an average cost of C$62.21 per share, for a total transaction of C$622,100.00. Following the transaction, the insider directly owned 8,042,678 shares in the company, valued at C$500,334,998.38. The trade was a 0.12% increase in their ownership of the stock. 5.13% of the stock is currently owned by corporate insiders.

About Tourmaline Oil

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.