CIBC Lowers Tourmaline Oil (TSE:TOU) Price Target to C$74.00

Tourmaline Oil (TSE:TOU) had its price objective reduced by research analysts at CIBC from C$75.00 to C$74.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s price target suggests a potential upside of 28.45% from the company’s previous close.

Several other equities analysts have also recently weighed in on TOU. TD Securities lowered their price objective on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Raymond James Financial cut Tourmaline Oil from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from C$76.00 to C$74.00 in a research report on Thursday. Desjardins increased their price objective on Tourmaline Oil from C$74.00 to C$76.00 and gave the stock a “hold” rating in a research note on Tuesday, April 15th. Finally, UBS Group reduced their price objective on Tourmaline Oil from C$74.00 to C$71.00 in a research note on Thursday, April 17th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$76.18.

Tourmaline Oil Stock Down 2.3%

TOU stock opened at C$57.61 on Thursday. Tourmaline Oil has a 52-week low of C$55.27 and a 52-week high of C$70.83. The company’s 50 day simple moving average is C$63.55 and its 200-day simple moving average is C$64.60. 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 firm has a market capitalization of C$21.47 billion, a P/E ratio of 13.01, a P/E/G ratio of 1.72 and a beta of 1.30.

Insider Transactions at Tourmaline Oil

In other news, Senior Officer William Scott Kirker sold 56,000 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of C$64.94, for a total transaction of C$3,636,561.60. Also, Senior Officer Mike Rose purchased 5,000 shares of the business’s stock in a transaction dated Monday, July 7th. The shares were purchased at an average cost of C$62.92 per share, with a total value of C$314,601.00. Insiders have bought a total of 40,000 shares of company stock valued at $2,547,532 over the last ninety days. Company insiders own 5.13% of the company’s stock.

Tourmaline Oil Company Profile

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.