Tourmaline Oil (TSE:TOU) Stock Rating Lowered by Raymond James Financial

Tourmaline Oil (TSE:TOU) was downgraded by equities research analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. They currently have a C$74.00 target price on the stock, down from their previous target price of C$76.00. Raymond James Financial’s price target would suggest a potential upside of 28.45% from the company’s current price.

TOU has been the subject of a number of other reports. CIBC cut their price target on Tourmaline Oil from C$77.50 to C$75.00 in a report on Friday, July 11th. UBS Group cut their price target on Tourmaline Oil from C$74.00 to C$71.00 in a report on Thursday, April 17th. Desjardins boosted their price target on Tourmaline Oil from C$74.00 to C$76.00 and gave the stock a “hold” rating in a report on Tuesday, April 15th. Finally, TD Securities cut their price target on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$76.18.

Tourmaline Oil Stock Performance

TSE TOU opened at C$57.61 on Thursday. Tourmaline Oil has a fifty-two week low of C$55.27 and a fifty-two week high of C$70.83. The stock has a market cap of C$21.47 billion, a price-to-earnings ratio of 13.01, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The business has a fifty day moving average of C$63.55 and a 200-day moving average of C$64.60. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13.

Insiders Place Their Bets

In other Tourmaline Oil news, Senior Officer William Scott Kirker sold 56,000 shares of the business’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 stock in a transaction on 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. In the last ninety days, insiders bought 40,000 shares of company stock valued at $2,547,532. Company insiders own 5.13% of the company’s stock.

About Tourmaline Oil

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.