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

Tourmaline Oil (TSE:TOU) had its price objective boosted by analysts at CIBC from C$75.00 to C$80.00 in a report issued on Friday,BayStreet.CA reports. CIBC’s price target indicates a potential upside of 19.39% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on TOU. Canaccord Genuity Group lowered their price target on Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. TD Securities lowered their price target on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Cormark upgraded Tourmaline Oil to a “hold” rating in a report on Monday, September 23rd. National Bankshares increased their target price on Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, UBS Group increased their target price on Tourmaline Oil from C$70.00 to C$73.00 in a report on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tourmaline Oil currently has an average rating of “Moderate Buy” and an average price target of C$78.42.

Tourmaline Oil Stock Performance

TSE TOU traded up C$0.42 on Friday, hitting C$67.01. 380,023 shares of the company’s stock were exchanged, compared to its average volume of 1,533,278. The firm has a market cap of C$24.87 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.11 and a quick ratio of 0.47. The firm’s 50-day moving average price is C$64.90 and its two-hundred day moving average price is C$62.71. Tourmaline Oil has a fifty-two week low of C$53.45 and a fifty-two week high of C$70.65.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, November 6th. The company reported C$1.00 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.26 by C($0.26). The firm had revenue of C$1.47 billion during the quarter, compared to analyst estimates of C$1.63 billion. Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. On average, research analysts expect that Tourmaline Oil will post 5.6809091 EPS for the current year.

Insider Activity at Tourmaline Oil

In related news, Senior Officer Mike Rose acquired 2,500 shares of the business’s stock in a transaction on Monday, December 16th. The shares were bought at an average cost of C$62.09 per share, with a total value of C$155,216.50. Over the last 90 days, insiders have bought 12,500 shares of company stock worth $805,187. 5.13% of the stock is owned by 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.