Tourmaline Oil (TSE:TOU) Price Target Raised to C$75.00

Tourmaline Oil (TSE:TOU) had its price objective hoisted by investment analysts at Jefferies Financial Group from C$70.00 to C$75.00 in a research report issued on Friday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective suggests a potential upside of 13.40% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. Desjardins cut their target price on Tourmaline Oil from C$76.00 to C$75.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. National Bankshares dropped 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. Raymond James dropped their price target on Tourmaline Oil from C$90.00 to C$85.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 19th. BMO Capital Markets dropped their price target on Tourmaline Oil from C$78.00 to C$75.00 in a research report on Thursday, March 28th. Finally, Scotiabank dropped their price target on Tourmaline Oil from C$100.00 to C$90.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 16th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tourmaline Oil has a consensus rating of “Buy” and a consensus target price of C$77.81.

Tourmaline Oil Trading Down 0.7 %

Shares of Tourmaline Oil stock traded down C$0.44 on Friday, reaching C$66.14. 506,610 shares of the company were exchanged, compared to its average volume of 2,032,287. The stock has a fifty day moving average price of C$60.43 and a 200-day moving average price of C$63.27. The firm has a market capitalization of C$23.25 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 1.72 and a beta of 1.40. 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 has a fifty-two week low of C$53.45 and a fifty-two week high of C$74.21.

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

Insider Transactions at Tourmaline Oil

In related news, Senior Officer Mike Rose purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was bought at an average price of C$58.20 per share, for a total transaction of C$291,021.00. In other Tourmaline Oil news, Senior Officer Mike Rose bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The stock was purchased at an average price of C$58.20 per share, for a total transaction of C$291,021.00. Also, Director Janet Weiss bought 650 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were acquired at an average price of C$43.66 per share, with a total value of C$28,376.40. In the last quarter, insiders purchased 20,180 shares of company stock worth $1,171,702. 5.19% of the stock is owned by corporate insiders.

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.