Tourmaline Oil (TSE:TOU) Price Target Cut to C$72.50

Tourmaline Oil (TSE:TOU) had its price objective cut by analysts at Canaccord Genuity Group from C$75.00 to C$72.50 in a research note issued on Wednesday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 13.07% from the stock’s current price.

TOU has been the topic of a number of other reports. TD Securities dropped their price objective on shares of Tourmaline Oil from C$75.00 to C$72.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. Jefferies Financial Group boosted their price objective on shares of Tourmaline Oil from C$70.00 to C$75.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Raymond James decreased their price objective on shares of Tourmaline Oil from C$90.00 to C$85.00 and set a “strong-buy” rating on the stock in a report on Friday, January 19th. BMO Capital Markets reduced their price target on shares of Tourmaline Oil from C$78.00 to C$75.00 in a report on Thursday, March 28th. Finally, Desjardins reduced their price target on shares of Tourmaline Oil from C$76.00 to C$75.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$77.38.

Tourmaline Oil Price Performance

Tourmaline Oil stock opened at C$64.12 on Wednesday. The stock has a market cap of C$22.54 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 1.72 and a beta of 1.40. The company has a fifty day simple moving average of C$61.37 and a 200-day simple moving average of C$63.15. Tourmaline Oil has a 12-month low of C$53.45 and a 12-month high of C$74.21. The company has a current ratio of 0.81, a quick ratio of 0.47 and a debt-to-equity ratio of 8.04.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 EPS for the quarter, topping the consensus estimate of C$1.41 by C$0.59. Tourmaline Oil had a net margin of 35.87% and a return on equity of 12.53%. The firm had revenue of C$1.66 billion for the quarter, compared to analyst estimates of C$1.49 billion. Equities analysts expect that Tourmaline Oil will post 4.710507 EPS for the current fiscal year.

Insider Transactions at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer Mike Rose acquired 5,000 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was bought at an average price of C$55.41 per share, with a total value of C$277,025.00. In other news, Senior Officer Mike Rose bought 5,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was acquired at an average cost of C$55.41 per share, for a total transaction of C$277,025.00. Also, Director Janet Weiss bought 650 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was purchased at an average price of C$43.66 per share, with a total value of C$28,376.40. Insiders acquired 15,180 shares of company stock valued at $880,681 over the last 90 days. Corporate insiders own 5.19% of the company’s stock.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.