Canaccord Genuity Group Trims Tourmaline Oil (TSE:TOU) Target Price to C$72.50

Tourmaline Oil (TSE:TOU) had its target price cut by research analysts at Canaccord Genuity Group from C$75.00 to C$72.50 in a research report issued on Wednesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 13.07% from the stock’s previous close.

Several other research firms have also recently weighed in on TOU. Desjardins decreased their target price on shares of Tourmaline Oil from C$76.00 to C$75.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Scotiabank dropped their target price on Tourmaline Oil from C$100.00 to C$90.00 and set an “outperform” rating for the company in a report on Tuesday, January 16th. CIBC dropped their price target on Tourmaline Oil from C$82.50 to C$72.50 and set an “outperform” rating for the company in a research note on Tuesday, January 16th. TD Securities dropped their price target on Tourmaline Oil from C$75.00 to C$72.00 and set a “buy” rating for the company in a research note on Thursday, March 7th. Finally, BMO Capital Markets dropped their price target on Tourmaline Oil from C$78.00 to C$75.00 in a research note on Thursday, March 28th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tourmaline Oil presently has a consensus rating of “Buy” and a consensus price target of C$77.38.

Tourmaline Oil Stock Performance

Shares of TOU stock opened at C$64.12 on Wednesday. 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 company has a market capitalization of C$22.54 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 1.72 and a beta of 1.40. The company’s 50 day moving average price is C$61.37 and its two-hundred day moving average price is C$63.15. Tourmaline Oil has a 52 week low of C$53.45 and a 52 week high of C$74.21.

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

Insider Activity at Tourmaline Oil

In other Tourmaline Oil news, Director Jill Terilee Angevine purchased 1,500 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were purchased at an average cost of C$56.48 per share, with a total value of C$84,720.00. In other Tourmaline Oil news, Director Jill Terilee Angevine purchased 1,500 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were purchased at an average cost of C$56.48 per share, with a total value of C$84,720.00. Also, Director Janet Weiss bought 650 shares of the stock in a transaction dated Friday, January 26th. The shares were purchased at an average cost of C$43.66 per share, for a total transaction of C$28,376.40. Insiders have purchased 15,180 shares of company stock worth $880,681 over the last ninety days. 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.