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

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

Several other research analysts also recently commented on the company. Scotiabank cut their target price on Tourmaline Oil from C$100.00 to C$90.00 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. Desjardins dropped their price target on Tourmaline Oil from C$76.00 to C$75.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. ATB Capital dropped their price target on Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating for the company in a research report on Wednesday, March 20th. National Bankshares dropped their price target on Tourmaline Oil from C$80.00 to C$70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 10th. Finally, TD Securities dropped their price target on Tourmaline Oil from C$75.00 to C$72.00 and set a “buy” rating for the company in a research report on Thursday, March 7th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$77.38.

Tourmaline Oil Stock Performance

TOU traded up C$0.03 during trading hours on Wednesday, hitting C$65.24. The stock had a trading volume of 1,144,032 shares, compared to its average volume of 2,038,894. The company’s fifty day simple moving average is C$61.03 and its 200 day simple moving average is C$63.13. Tourmaline Oil has a 1 year low of C$53.45 and a 1 year high of C$74.21. The stock has a market cap of C$22.93 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 1.72 and a beta of 1.40. The company has a quick ratio of 0.47, a current ratio of 0.81 and a debt-to-equity ratio of 8.04.

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

Insider Buying and Selling

In other Tourmaline Oil news, Director Janet Weiss purchased 650 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The stock was bought at an average cost of C$43.66 per share, for a total transaction of C$28,376.40. In related news, Director Janet Weiss purchased 650 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were purchased at an average cost of C$43.66 per share, with a total value of C$28,376.40. Also, Director Jill Terilee Angevine acquired 1,500 shares of Tourmaline Oil stock in a transaction that occurred on Monday, January 22nd. The shares were bought at an average cost of C$56.48 per share, with a total value of C$84,720.00. Insiders have bought a total of 15,180 shares of company stock valued at $880,681 over the last ninety days. Company insiders own 5.19% of the company’s stock.

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.