CIBC Increases Tourmaline Oil (TSE:TOU) Price Target to C$80.00

Tourmaline Oil (TSE:TOU) had its price target hoisted by CIBC from C$77.50 to C$80.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s target price indicates a potential upside of 21.30% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on TOU. National Bankshares decreased their price target on Tourmaline Oil from C$80.00 to C$70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 10th. TD Securities decreased 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 report on Thursday, March 7th. Desjardins decreased their price objective on shares of Tourmaline Oil from C$75.00 to C$74.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. BMO Capital Markets decreased their price objective on shares of Tourmaline Oil from C$78.00 to C$75.00 in a research report on Thursday, March 28th. Finally, Jefferies Financial Group upped 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 research report on Friday, April 12th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$78.38.

Tourmaline Oil Stock Performance

TSE TOU traded up C$0.16 during trading on Thursday, hitting C$65.95. 780,161 shares of the company’s stock traded hands, compared to its average volume of 1,974,811. The stock has a market capitalization of C$23.18 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.72 and a beta of 1.40. Tourmaline Oil has a 12-month low of C$53.45 and a 12-month high of C$74.21. The company has a debt-to-equity ratio of 8.04, a quick ratio of 0.47 and a current ratio of 0.81. The business has a 50 day moving average of C$63.24 and a 200-day moving average of C$63.05.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 earnings per share for the quarter, beating the consensus estimate of C$1.41 by C$0.59. Tourmaline Oil had a return on equity of 12.53% and a net margin of 35.87%. The firm had revenue of C$1.66 billion for the quarter, compared to analysts’ expectations of C$1.49 billion. As a group, equities research analysts anticipate that Tourmaline Oil will post 4.710507 earnings per share for the current fiscal year.

Insider Activity

In related news, Senior Officer Mike Rose acquired 5,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was purchased at an average price of C$62.25 per share, with a total value of C$311,259.00. Over the last 90 days, insiders purchased 12,630 shares of company stock valued at $743,877. 5.19% of the stock is currently owned by company insiders.

Tourmaline Oil Company Profile

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.