Tourmaline Oil (TSE:TOU) Price Target Raised to C$66.00

Tourmaline Oil (TSE:TOU) had its price target upped by equities researchers at TD from C$65.00 to C$66.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD’s target price would suggest a potential upside of 1.88% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Canaccord Genuity Group cut Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective for the company. in a research note on Thursday, May 7th. BMO Capital Markets downgraded shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from C$67.00 to C$70.00 in a report on Thursday, May 7th. Desjardins set a C$68.00 price target on shares of Tourmaline Oil and gave the company a “hold” rating in a report on Friday, July 17th. Finally, Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a report on Friday, June 26th. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$70.00.

Tourmaline Oil Stock Up 1.8%

Shares of TOU traded up C$1.12 during midday trading on Wednesday, reaching C$64.78. 650,310 shares of the stock were exchanged, compared to its average volume of 2,815,718. The company has a current ratio of 0.88, a quick ratio of 0.47 and a debt-to-equity ratio of 7.14. The company’s 50 day moving average is C$62.78 and its two-hundred day moving average is C$62.99. The company has a market capitalization of C$25.15 billion, a P/E ratio of 35.79, a PEG ratio of 1.72 and a beta of -0.27. Tourmaline Oil has a 52 week low of C$56.72 and a 52 week high of C$70.57.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share for the quarter. Tourmaline Oil had a net margin of 12.79% and a return on equity of 4.40%. The firm had revenue of C$1.78 billion during the quarter. On average, sell-side analysts anticipate that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Insider Activity at Tourmaline Oil

In related news, insider James William Alexander Heard acquired 1,000 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were purchased at an average cost of C$58.88 per share, with a total value of C$58,880.00. Following the completion of the acquisition, the insider directly owned 67,476 shares of the company’s stock, valued at C$3,972,986.88. This represents a 1.50% increase in their ownership of the stock. Also, insider Mike Rose bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was purchased at an average cost of C$59.84 per share, for a total transaction of C$149,600.00. Following the completion of the transaction, the insider owned 8,115,178 shares in the company, valued at C$485,612,251.52. This trade represents a 0.03% increase in their ownership of the stock. Insiders have purchased 44,266 shares of company stock valued at $2,760,824 over the last 90 days. Company insiders own 5.13% of the company’s stock.

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.