Tourmaline Oil (TSE:TOU) Given New C$73.50 Price Target at Canaccord Genuity Group

Tourmaline Oil (TSE:TOU) had its price target lifted by stock analysts at Canaccord Genuity Group from C$72.50 to C$73.50 in a report released on Thursday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 11.45% from the stock’s previous close.

A number of other research firms have also issued reports on TOU. Stifel Nicolaus upped their target price on Tourmaline Oil from C$75.00 to C$80.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. TD Securities reduced their price target on 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. National Bankshares reduced 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 note on Wednesday, January 10th. CIBC increased their price target on Tourmaline Oil from C$77.50 to C$80.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, BMO Capital Markets reduced their price target on Tourmaline Oil from C$78.00 to C$75.00 in a research note on Thursday, March 28th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tourmaline Oil currently has a consensus rating of “Buy” and a consensus target price of C$78.38.

Tourmaline Oil Price Performance

Shares of TOU traded up C$0.16 on Thursday, reaching C$65.95. The stock had a trading volume of 780,161 shares, compared to its average volume of 1,974,811. The firm has a market capitalization of C$23.18 billion, a PE ratio of 13.06, a PEG ratio of 1.72 and a beta of 1.40. The company has a quick ratio of 0.47, a current ratio of 0.81 and a debt-to-equity ratio of 8.04. The firm has a 50-day moving average of C$63.24 and a 200 day moving average of C$63.05. Tourmaline Oil has a twelve month low of C$53.45 and a twelve month high of C$74.21.

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

Insider Buying and Selling

In other news, Senior Officer Mike Rose purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was acquired at an average cost of C$59.42 per share, for a total transaction of C$148,543.00. Over the last three months, insiders bought 12,630 shares of company stock worth $743,877. 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.