CIBC Cuts Tourmaline Oil (TSE:TOU) Price Target to C$66.00

Tourmaline Oil (TSE:TOU) had its price target lowered by analysts at CIBC from C$71.00 to C$66.00 in a research report issued on Tuesday,BayStreet.CA reports. CIBC’s price target suggests a potential upside of 10.81% from the stock’s current price.

Several other research analysts also recently commented on TOU. The Goldman Sachs Group raised shares of Tourmaline Oil to a “strong-buy” rating in a report on Monday, October 13th. Scotiabank lowered their price objective on Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. Capital One Financial upgraded shares of Tourmaline Oil to a “strong-buy” rating in a report on Monday, October 27th. Desjardins upgraded shares of Tourmaline Oil from a “hold” rating to a “buy” rating and set a C$68.00 target price for the company in a report on Monday, November 24th. Finally, Raymond James Financial reduced their price target on shares of Tourmaline Oil from C$74.00 to C$72.00 in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Tourmaline Oil currently has an average rating of “Buy” and an average target price of C$72.13.

Tourmaline Oil Price Performance

Shares of Tourmaline Oil stock traded up C$0.01 during midday trading on Tuesday, hitting C$59.56. 680,898 shares of the company traded hands, compared to its average volume of 2,059,466. The firm’s fifty day moving average price is C$61.67 and its 200-day moving average price is C$60.91. The stock has a market cap of C$23.05 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 1.72 and a beta of -0.03. Tourmaline Oil has a 12 month low of C$55.40 and a 12 month high of C$70.83. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01.

Tourmaline Oil (TSE:TOU) last released its earnings results on Wednesday, November 5th. The company reported C$0.49 EPS for the quarter. The business had revenue of C$1.40 billion during the quarter. Tourmaline Oil had a return on equity of 11.08% and a net margin of 28.53%. As a group, sell-side analysts forecast that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Insider Transactions at Tourmaline Oil

In other news, insider Mike Rose bought 10,000 shares of Tourmaline Oil stock in a transaction dated Friday, November 7th. The shares were purchased at an average cost of C$59.83 per share, with a total value of C$598,300.00. Following the completion of the acquisition, the insider owned 8,197,742 shares of the company’s stock, valued at C$490,470,903.86. This trade represents a 0.12% increase in their position. 5.13% of the stock is currently owned by company insiders.

About Tourmaline Oil

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.