Tourmaline Oil (TSE:TOU) Given New C$75.00 Price Target at Scotiabank

Tourmaline Oil (TSE:TOU) had its target price dropped by equities research analysts at Scotiabank from C$80.00 to C$75.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 21.07% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. TD Securities cut Tourmaline Oil from a “buy” rating to a “hold” rating and cut their price target for the company from C$73.00 to C$68.00 in a report on Tuesday, September 30th. Desjardins raised shares of Tourmaline Oil from a “hold” rating to a “buy” rating and set a C$68.00 target price for the company in a report on Monday, November 24th. Capital One Financial raised shares of Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 27th. Raymond James Financial lowered their price objective on shares of Tourmaline Oil from C$74.00 to C$72.00 in a research report on Thursday, November 6th. Finally, Jefferies Financial Group reduced their target price on shares of Tourmaline Oil from C$72.00 to C$70.00 in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of C$71.33.

Tourmaline Oil Price Performance

TSE TOU traded up C$1.90 during trading hours on Wednesday, reaching C$61.95. The company’s stock had a trading volume of 1,385,308 shares, compared to its average volume of 2,170,969. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. Tourmaline Oil has a 1 year low of C$55.40 and a 1 year high of C$70.83. The firm’s 50-day moving average price is C$61.47 and its 200-day moving average price is C$60.67. The company has a market capitalization of C$23.98 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 1.72 and a beta of -0.03.

Tourmaline Oil (TSE:TOU) last released its earnings results on Wednesday, November 5th. The company reported C$0.49 EPS for the quarter. The firm had revenue of C$1.40 billion for the quarter. Tourmaline Oil had a net margin of 28.53% and a return on equity of 11.08%. On average, equities research analysts predict that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Insider Activity

In other Tourmaline Oil news, insider Mike Rose acquired 10,000 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were purchased at an average cost of C$59.83 per share, for a total transaction of C$598,300.00. Following the completion of the purchase, the insider owned 8,197,742 shares in the company, valued at approximately C$490,470,903.86. This trade represents a 0.12% increase in their ownership of the stock. Insiders own 5.13% of the company’s stock.

About Tourmaline Oil

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.