Tourmaline Oil (TSE:TOU) PT Raised to C$77.51 at CIBC

Tourmaline Oil (TSE:TOU) had its price target raised by equities researchers at CIBC from C$72.50 to C$77.51 in a research note issued on Monday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s target price points to a potential upside of 17.16% from the stock’s previous close.

A number of other equities analysts have also commented on TOU. Raymond James lowered their price objective on Tourmaline Oil from C$90.00 to C$85.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 19th. BMO Capital Markets lowered their price objective on Tourmaline Oil from C$78.00 to C$75.00 in a research note on Thursday, March 28th. Canaccord Genuity Group lowered their price objective on Tourmaline Oil from C$75.00 to C$72.50 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. ATB Capital lowered their price objective on Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 20th. Finally, National Bankshares decreased their price target on Tourmaline Oil from C$80.00 to C$70.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 10th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$78.08.

Tourmaline Oil Stock Performance

Shares of TSE TOU opened at C$66.16 on Monday. The stock has a 50 day moving average price of C$61.98 and a 200 day moving average price of C$63.08. Tourmaline Oil has a 52 week low of C$53.45 and a 52 week high of C$74.21. The company has a debt-to-equity ratio of 8.04, a quick ratio of 0.47 and a current ratio of 0.81. The stock has a market capitalization of C$23.25 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 1.72 and a beta of 1.40.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 earnings per share for the quarter, topping the consensus estimate of C$1.41 by C$0.59. The business had revenue of C$1.66 billion during the quarter, compared to analysts’ expectations of C$1.49 billion. Tourmaline Oil had a return on equity of 12.53% and a net margin of 35.87%. Analysts predict that Tourmaline Oil will post 4.710507 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Janet Weiss bought 650 shares of the business’s stock in a transaction on Friday, January 26th. The shares were purchased at an average cost of C$43.66 per share, with a total value of C$28,376.40. In other Tourmaline Oil news, Senior Officer Mike Rose acquired 5,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were bought at an average cost of C$62.25 per share, with a total value of C$311,259.00. Also, Director Janet Weiss acquired 650 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was acquired at an average cost of C$43.66 per share, for a total transaction of C$28,376.40. Insiders have bought 13,680 shares of company stock worth $795,961 in the last 90 days. Insiders own 5.19% of the company’s stock.

Tourmaline Oil Company Profile

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.