CIBC Raises Tourmaline Oil (TSE:TOU) Price Target to C$77.51

Tourmaline Oil (TSE:TOU) had its price target lifted by equities research analysts at CIBC from C$72.50 to C$77.51 in a note issued to investors on Monday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s target price suggests a potential upside of 17.16% from the company’s current price.

A number of other analysts also recently weighed in on the stock. National Bankshares decreased their price target on shares of Tourmaline Oil from C$80.00 to C$70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 10th. BMO Capital Markets decreased their price target on shares of Tourmaline Oil from C$78.00 to C$75.00 in a research report on Thursday, March 28th. Raymond James decreased their price target on shares of Tourmaline Oil from C$90.00 to C$85.00 and set a “strong-buy” rating for the company in a research report on Friday, January 19th. Desjardins decreased their price target on shares of Tourmaline Oil from C$76.00 to C$75.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Finally, Scotiabank decreased their price objective on shares of 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. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$78.08.

Tourmaline Oil Trading Up 0.7 %

TSE TOU opened at C$66.16 on Monday. Tourmaline Oil has a one year low of C$53.45 and a one year high of C$74.21. The company’s 50 day moving average price is C$61.98 and its 200 day moving average price is C$63.08. 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 firm has a market capitalization of C$23.25 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 1.72 and a beta of 1.40.

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

Insider Activity at Tourmaline Oil

In other Tourmaline Oil news, Director Janet Weiss purchased 650 shares of the company’s stock in a transaction on 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. In related news, Director Janet Weiss purchased 650 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were purchased at an average price of C$43.66 per share, with a total value of C$28,376.40. Also, Senior Officer Mike Rose purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was bought at an average cost of C$62.25 per share, for a total transaction of C$311,259.00. Insiders have purchased a total of 13,680 shares of company stock worth $795,961 over the last ninety days. 5.19% of the stock is currently 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.