Desjardins Increases Tourmaline Oil (TSE:TOU) Price Target to C$76.00

Tourmaline Oil (TSE:TOU) had its target price boosted by analysts at Desjardins from C$74.00 to C$76.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ target price would indicate a potential upside of 25.83% from the company’s current price.

Other equities analysts have also issued research reports about the company. CIBC decreased their price target on Tourmaline Oil from C$80.00 to C$72.50 in a research note on Thursday, April 10th. National Bankshares lifted their price target on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Raymond James set a C$78.00 price objective on shares of Tourmaline Oil and gave the company an “outperform” rating in a report on Tuesday, April 8th. Jefferies Financial Group raised their price target on Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th. Finally, Cormark raised shares of Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$77.95.

Tourmaline Oil Price Performance

Shares of Tourmaline Oil stock traded down C$0.34 on Tuesday, reaching C$60.40. The company’s stock had a trading volume of 796,779 shares, compared to its average volume of 2,375,971. Tourmaline Oil has a 52-week low of C$55.27 and a 52-week high of C$70.83. The company has a market capitalization of C$22.51 billion, a P/E ratio of 13.64, a PEG ratio of 1.72 and a beta of 1.30. 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 50-day moving average price of C$65.83 and a 200-day moving average price of C$65.17.

Insider Activity at Tourmaline Oil

In related news, Senior Officer Mike Rose purchased 2,500 shares of Tourmaline Oil stock in a transaction on Friday, March 14th. The stock was bought at an average price of C$64.25 per share, with a total value of C$160,612.50. Also, Director Jill Terilee Angevine acquired 1,000 shares of the stock in a transaction dated Friday, January 31st. The shares were bought at an average cost of C$66.63 per share, for a total transaction of C$66,630.00. Insiders acquired a total of 13,500 shares of company stock valued at $883,369 over the last ninety days. 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.