Tourmaline Oil (TSE:TOU) Cut to “Hold” at Desjardins

Tourmaline Oil (TSE:TOU) was downgraded by investment analysts at Desjardins from a “buy” rating to a “hold” rating in a report issued on Wednesday,BayStreet.CA reports. They currently have a C$74.00 target price on the stock, down from their previous target price of C$80.00. Desjardins’ price objective would indicate a potential upside of 11.31% from the company’s current price.

A number of other equities analysts have also commented on TOU. Cormark upgraded Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research note on Friday, March 7th. CIBC upped their price objective on Tourmaline Oil from C$75.00 to C$80.00 in a report on Friday, January 17th. National Bankshares upped their price objective on Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. UBS Group upped their price objective on Tourmaline Oil from C$79.00 to C$80.00 in a research report on Thursday, February 13th. Finally, Jefferies Financial Group upped their price objective on Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Tourmaline Oil has a consensus rating of “Moderate Buy” and an average target price of C$78.36.

Tourmaline Oil Stock Performance

Shares of Tourmaline Oil stock traded up C$0.36 during trading on Wednesday, reaching C$66.48. The company’s stock had a trading volume of 4,617,242 shares, compared to its average volume of 2,314,993. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01. The business’s fifty day moving average price is C$67.15 and its 200-day moving average price is C$64.54. The firm has a market cap of C$24.77 billion, a price-to-earnings ratio of 15.01, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. Tourmaline Oil has a one year low of C$55.27 and a one year high of C$70.83.

Insider Activity at Tourmaline Oil

In related news, Senior Officer Mike Rose bought 2,500 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was acquired at an average cost of C$66.44 per share, with a total value of C$166,109.00. Also, Director Jill Terilee Angevine bought 1,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average cost of C$66.63 per share, with a total value of C$66,630.00. Insiders have bought a total of 16,000 shares of company stock valued at $1,054,314 in the last 90 days. 5.13% of the stock is owned by corporate insiders.

About Tourmaline Oil

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.