Tourmaline Oil (TSE:TOU) PT Set at C$68.00 by Desjardins

Tourmaline Oil (TSE:TOU) received a C$68.00 target price from research analysts at Desjardins in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ price target points to a potential upside of 8.82% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity Group lowered shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective for the company. in a research note on Thursday, May 7th. Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. Finally, BMO Capital Markets downgraded Tourmaline Oil from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$70.40.

Tourmaline Oil Price Performance

TOU opened at C$62.49 on Friday. The company has a debt-to-equity ratio of 7.14, a current ratio of 0.88 and a quick ratio of 0.47. The company has a market capitalization of C$24.27 billion, a price-to-earnings ratio of 34.52, a P/E/G ratio of 1.72 and a beta of -0.27. The firm’s fifty day moving average price is C$62.90 and its two-hundred day moving average price is C$62.96. Tourmaline Oil has a 1 year low of C$56.72 and a 1 year high of C$70.57.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share (EPS) for the quarter. The firm had revenue of C$1.78 billion during the quarter. Tourmaline Oil had a net margin of 12.79% and a return on equity of 4.40%. As a group, analysts anticipate that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Insider Activity at Tourmaline Oil

In related news, Director Jill Terilee Angevine acquired 766 shares of the stock in a transaction on Monday, July 6th. The shares were acquired at an average price of C$59.00 per share, with a total value of C$45,194.00. Following the completion of the transaction, the director owned 71,766 shares in the company, valued at approximately C$4,234,194. The trade was a 1.08% increase in their position. Also, insider Mike Rose acquired 2,500 shares of the stock in a transaction on Friday, June 26th. The stock was bought at an average cost of C$59.84 per share, for a total transaction of C$149,600.00. Following the transaction, the insider owned 8,115,178 shares of the company’s stock, valued at approximately C$485,612,251.52. This trade represents a 0.03% increase in their position. Over the last three months, insiders have acquired 44,266 shares of company stock worth $2,760,824. 5.13% of the stock is currently owned by corporate insiders.

Tourmaline Oil Company Profile

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.