Tourmaline Oil (TOU) Reaches New 12-Month Low at $19.51
Tourmaline Oil Corp (TSE:TOU) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as C$19.51 and last traded at C$19.61, with a volume of 317316 shares changing hands. The stock had previously closed at C$19.87.
A number of equities research analysts have issued reports on TOU shares. CIBC reduced their price target on Tourmaline Oil from C$30.00 to C$27.50 in a research report on Tuesday, January 23rd. BMO Capital Markets reduced their price target on Tourmaline Oil from C$34.00 to C$28.00 in a research report on Tuesday, October 10th. TD Securities increased their price target on Tourmaline Oil from C$32.00 to C$34.00 and gave the company a “buy” rating in a research report on Thursday, November 9th. Raymond James Financial reduced their price target on Tourmaline Oil from C$38.00 to C$30.00 and set an “outperform” rating on the stock in a research report on Thursday, January 11th. Finally, National Bank Financial reduced their price target on Tourmaline Oil from C$37.50 to C$30.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 9th. Seven analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of C$35.06.
The company has a market cap of $5,310.00, a PE ratio of 16.32 and a beta of -0.18.
In other Tourmaline Oil news, insider Mike Rose bought 2,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were acquired at an average price of C$25.55 per share, with a total value of C$51,100.00. Insiders have bought a total of 23,000 shares of company stock worth $514,090 in the last three months.
About Tourmaline Oil
Tourmaline Oil Corp. is a Canada-based intermediate crude oil and natural gas exploration and production company. The Company is engaged in the acquisition, exploration, development and production of petroleum and natural gas properties. The Company is focused on exploration and acquisition program in the Western Canadian Sedimentary Basin.
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