Tourmaline Oil (TSE:TOU) Price Target Raised to C$70.00 at Desjardins

Tourmaline Oil (TSE:TOU) had its price objective upped by Desjardins from C$68.00 to C$70.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price target suggests a potential upside of 12.18% from the stock’s previous close.

TOU has been the topic of a number of other reports. Raymond James Financial cut their price target on shares of Tourmaline Oil from C$74.00 to C$72.00 in a report on Thursday, November 6th. Scotiabank dropped their target price on shares of Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 21st. The Goldman Sachs Group raised shares of Tourmaline Oil to a “strong-buy” rating in a research report on Monday, October 13th. TD Securities cut shares of Tourmaline Oil from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$73.00 to C$68.00 in a report on Tuesday, September 30th. Finally, Jefferies Financial Group dropped their price objective on Tourmaline Oil from C$72.00 to C$70.00 in a research note on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$71.56.

Tourmaline Oil Stock Performance

Shares of TSE TOU traded down C$0.11 during midday trading on Monday, reaching C$62.40. The company’s stock had a trading volume of 750,199 shares, compared to its average volume of 2,063,504. Tourmaline Oil has a 12-month low of C$55.40 and a 12-month high of C$70.83. The firm has a 50 day moving average price of C$61.49 and a 200-day moving average price of C$60.65. The stock has a market capitalization of C$24.15 billion, a P/E ratio of 17.83, a PEG ratio of 1.72 and a beta of -0.03. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, November 5th. The company reported C$0.49 EPS for the quarter. Tourmaline Oil had a return on equity of 11.08% and a net margin of 28.53%.The company had revenue of C$1.40 billion during the quarter. As a group, equities analysts predict that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Insider Buying and Selling at Tourmaline Oil

In other news, insider Mike Rose purchased 2,500 shares of the stock in a transaction dated Wednesday, January 14th. The shares were purchased at an average cost of C$58.72 per share, with a total value of C$146,800.00. Following the completion of the acquisition, the insider owned 8,032,678 shares in the company, valued at C$471,678,852.16. This represents a 0.03% increase in their position. 5.13% of the stock is currently owned by corporate insiders.

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.