Scotiabank Lowers Tourmaline Oil (TSE:TOU) Price Target to C$80.00

Tourmaline Oil (TSE:TOU) had its price objective reduced by stock analysts at Scotiabank from C$85.00 to C$80.00 in a report released on Wednesday, Marketbeat reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 32.45% from the stock’s previous close.

Several other equities analysts also recently commented on TOU. Capital One Financial upgraded Tourmaline Oil to a “strong-buy” rating in a research report on Monday. Royal Bank Of Canada dropped their target price on Tourmaline Oil from C$78.00 to C$75.00 in a research report on Friday, August 1st. The Goldman Sachs Group upgraded Tourmaline Oil to a “strong-buy” rating in a research report on Monday, October 13th. Raymond James Financial downgraded Tourmaline Oil from an “outperform” rating to a “market perform” rating and dropped their target price for the company from C$76.00 to C$74.00 in a research report on Thursday, July 31st. Finally, CIBC dropped their target price on Tourmaline Oil from C$74.00 to C$71.00 in a research report on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$74.30.

Tourmaline Oil Stock Performance

TSE TOU opened at C$60.40 on Wednesday. The firm’s fifty day moving average price is C$60.25 and its two-hundred day moving average price is C$61.63. The stock has a market cap of C$23.37 billion, a PE ratio of 15.02, a PEG ratio of 1.72 and a beta of 0.35. Tourmaline Oil has a fifty-two week low of C$55.40 and a fifty-two week high of C$70.83. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01.

Insider Buying and Selling at Tourmaline Oil

In other news, Director Christopher Lee purchased 17,000 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were acquired at an average price of C$58.30 per share, with a total value of C$991,045.60. Following the completion of the transaction, the director owned 17,000 shares of the company’s stock, valued at C$991,045.60. The trade was a ∞ increase in their position. Also, insider Mike Rose purchased 10,000 shares of the business’s stock in a transaction on Friday, October 10th. The shares were purchased at an average cost of C$60.42 per share, for a total transaction of C$604,200.00. Following the transaction, the insider directly owned 8,187,742 shares of the company’s stock, valued at approximately C$494,703,371.64. The trade was a 0.12% increase in their position. In the last 90 days, insiders purchased 37,000 shares of company stock worth $2,192,967. 5.13% of the stock is owned by company insiders.

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.