Tourmaline Oil (TSE:TOU) Price Target Raised to C$74.00

Tourmaline Oil (TSE:TOU) had its price objective boosted by Jefferies Financial Group from C$72.00 to C$74.00 in a note issued to investors on Friday,BayStreet.CA reports. Jefferies Financial Group’s price objective indicates a potential upside of 12.84% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Desjardins set a C$68.00 target price on shares of Tourmaline Oil and gave the company a “hold” rating in a research note on Friday, July 17th. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research report on Friday, June 26th. BMO Capital Markets downgraded shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their price target for the company from C$67.00 to C$70.00 in a report on Thursday, May 7th. Canaccord Genuity Group lowered shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price target on the stock. in a research report on Thursday, May 7th. Finally, TD upped their price objective on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a “hold” rating in a research note on Wednesday. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Tourmaline Oil presently has an average rating of “Moderate Buy” and a consensus target price of C$70.36.

Tourmaline Oil Price Performance

TOU stock traded up C$0.69 during trading on Friday, hitting C$65.58. The company had a trading volume of 490,799 shares, compared to its average volume of 2,798,391. The company has a fifty day moving average price of C$62.74 and a two-hundred day moving average price of C$63.04. The company has a current ratio of 0.88, a quick ratio of 0.47 and a debt-to-equity ratio of 7.14. The company has a market cap of C$25.47 billion, a P/E ratio of 36.23, a P/E/G ratio of 1.72 and a beta of -0.27. Tourmaline Oil has a fifty-two week low of C$56.72 and a fifty-two week high of C$70.57.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share for the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%.The firm had revenue of C$1.78 billion for the quarter. Equities research analysts expect that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Insider Activity at Tourmaline Oil

In related news, Director Jill Terilee Angevine purchased 766 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were acquired at an average cost of C$59.00 per share, with a total value of C$45,194.00. Following the completion of the purchase, the director directly owned 71,766 shares of the company’s stock, valued at C$4,234,194. This trade represents a 1.08% increase in their ownership of the stock. Also, insider Earl Henry Mckinnon sold 4,700 shares of the firm’s stock in a transaction that occurred on Friday, July 3rd. The shares were sold at an average price of C$60.35, for a total transaction of C$283,645.00. Following the completion of the sale, the insider directly owned 132,280 shares of the company’s stock, valued at approximately C$7,983,098. This represents a 3.43% decrease in their position. Over the last 90 days, insiders have bought 39,266 shares of company stock worth $2,463,574. 5.13% of the stock is owned by 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.