Tourmaline Oil (TSE:TOU) Price Target Cut to C$72.00 by Analysts at Raymond James Financial

Tourmaline Oil (TSE:TOU) had its price target decreased by analysts at Raymond James Financial from C$74.00 to C$72.00 in a research report issued on Thursday,BayStreet.CA reports. Raymond James Financial’s price objective would indicate a potential upside of 19.84% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. CIBC dropped their target price on shares of Tourmaline Oil from C$74.00 to C$71.00 in a research report on Wednesday, October 15th. Royal Bank Of Canada decreased their price target on shares of Tourmaline Oil from C$78.00 to C$75.00 in a research note on Friday, August 1st. TD Securities downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$73.00 to C$68.00 in a research note on Tuesday, September 30th. ATB Capital boosted their price objective on shares of Tourmaline Oil from C$76.00 to C$77.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Finally, Capital One Financial upgraded shares of Tourmaline Oil to a “strong-buy” rating in a report on Monday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$74.10.

Tourmaline Oil Stock Performance

TSE TOU traded down C$1.62 during trading hours on Thursday, reaching C$60.08. 1,775,531 shares of the company were exchanged, compared to its average volume of 2,364,474. Tourmaline Oil has a 1 year low of C$55.40 and a 1 year high of C$70.83. The business’s 50 day simple moving average is C$60.54 and its 200-day simple moving average is C$61.62. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. The stock has a market capitalization of C$23.24 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.72 and a beta of 0.29.

Insider Buying and Selling at Tourmaline Oil

In other Tourmaline Oil news, Director Christopher Lee bought 17,000 shares of Tourmaline Oil stock in a transaction dated Wednesday, August 27th. The stock was acquired at an average cost of C$58.30 per share, with a total value of C$991,045.60. Following the purchase, the director directly owned 17,000 shares in the company, valued at C$991,045.60. This represents a ∞ increase in their position. Also, insider Mike Rose bought 10,000 shares of the stock in a transaction on Friday, October 10th. The shares were acquired at an average cost of C$60.42 per share, for a total transaction of C$604,200.00. Following the purchase, the insider owned 8,187,742 shares in the company, valued at C$494,703,371.64. The trade was a 0.12% increase in their ownership of the stock. In the last 90 days, insiders have bought 32,000 shares of company stock worth $1,901,174. Insiders own 5.13% of the company’s stock.

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.