Tourmaline Oil (TSE:TOU) Price Target Raised to C$85.00

Tourmaline Oil (TSE:TOUGet Rating) had its target price boosted by equities research analysts at Cormark from C$70.00 to C$85.00 in a report issued on Monday, BayStreet.CA reports. Cormark’s target price indicates a potential upside of 28.01% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Scotiabank lifted their price objective on shares of Tourmaline Oil from C$77.00 to C$87.00 in a research note on Tuesday, March 8th. CIBC lifted their price target on shares of Tourmaline Oil from C$65.00 to C$75.00 in a research report on Thursday. Raymond James increased their price objective on Tourmaline Oil from C$70.00 to C$80.00 and gave the company a “strong-buy” rating in a research report on Friday, March 25th. Tudor Pickering & Holt upped their price objective on shares of Tourmaline Oil from C$55.00 to C$56.00 and gave the company a “buy” rating in a research note on Wednesday, January 19th. Finally, TD Securities dropped their target price on shares of Tourmaline Oil from C$64.00 to C$63.00 and set a “buy” rating on the stock in a research report on Thursday, March 3rd. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tourmaline Oil has an average rating of “Buy” and a consensus price target of C$62.85.

Shares of TSE TOU traded up C$2.44 during midday trading on Monday, hitting C$66.40. 984,892 shares of the company’s stock were exchanged, compared to its average volume of 1,764,154. Tourmaline Oil has a twelve month low of C$23.07 and a twelve month high of C$66.56. The firm has a market cap of C$21.97 billion and a P/E ratio of 10.35. The stock’s 50 day moving average price is C$52.59 and its 200-day moving average price is C$46.84. The company has a debt-to-equity ratio of 7.59, a current ratio of 0.66 and a quick ratio of 0.62.

Tourmaline Oil (TSE:TOUGet Rating) last issued its quarterly earnings results on Wednesday, March 2nd. The company reported C$2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.43 by C$0.83. The firm had revenue of C$1.53 billion for the quarter. On average, analysts expect that Tourmaline Oil will post 7.4727617 EPS for the current fiscal year.

In other news, Senior Officer Mike Rose acquired 5,000 shares of the firm’s stock in a transaction on Monday, March 14th. The shares were purchased at an average cost of C$48.23 per share, with a total value of C$241,154.00. Following the completion of the purchase, the insider now owns 8,744,973 shares of the company’s stock, valued at C$421,777,043.77. Also, Senior Officer Drew E. Tumbach sold 11,479 shares of Tourmaline Oil stock in a transaction that occurred on Friday, April 8th. The shares were sold at an average price of C$60.05, for a total transaction of C$689,313.95. Following the completion of the transaction, the insider now owns 773,482 shares of the company’s stock, valued at approximately C$46,447,594.10.

Tourmaline Oil Company Profile (Get Rating)

Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. The company was incorporated in 2008 and is headquartered in Calgary, Canada.

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