Desjardins Boosts Tourmaline Oil (TSE:TOU) Price Target to C$74.00

Tourmaline Oil (TSE:TOU) had its price target lifted by stock analysts at Desjardins from C$70.00 to C$74.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Desjardins’ price target would suggest a potential upside of 16.39% from the company’s current price.

Several other analysts have also recently issued reports on TOU. Jefferies Financial Group cut their target price on Tourmaline Oil from C$72.00 to C$70.00 in a research note on Tuesday, January 20th. Royal Bank Of Canada dropped their price objective on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a report on Friday. Raymond James Financial lifted their price objective on Tourmaline Oil from C$69.00 to C$72.00 in a research report on Thursday. Scotiabank decreased their target price on Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating for the company in a report on Wednesday, January 21st. Finally, ATB Cormark Capital Markets dropped their price target on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$71.22.

Tourmaline Oil Trading Up 0.3%

TSE:TOU traded up C$0.21 during midday trading on Monday, reaching C$63.58. 12,062,136 shares of the stock traded hands, compared to its average volume of 2,563,343. The stock has a market capitalization of C$24.61 billion, a P/E ratio of 18.17, a PEG ratio of 1.72 and a beta of 0.00. Tourmaline Oil has a 12 month low of C$55.40 and a 12 month high of C$70.73. The company has a debt-to-equity ratio of 12.25, a quick ratio of 0.47 and a current ratio of 0.83. The company has a fifty day moving average of C$61.74 and a 200 day moving average of C$61.27.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings data on Wednesday, March 4th. The company reported C($1.72) earnings per share (EPS) for the quarter. The firm had revenue of C$1.66 billion during the quarter. Tourmaline Oil had a net margin of 5.03% and a return on equity of 1.65%. On average, research analysts predict that Tourmaline Oil will post 5.6809091 EPS for the current year.

Insider Activity at Tourmaline Oil

In related news, insider Mike Rose purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were bought at an average price of C$62.21 per share, for a total transaction of C$622,100.00. Following the purchase, the insider directly owned 8,042,678 shares of the company’s stock, valued at approximately C$500,334,998.38. This represents a 0.12% 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.