Tourmaline Oil (TSE:TOU) Price Target Lowered to C$74.00 at Canaccord Genuity Group

Tourmaline Oil (TSE:TOU) had its target price decreased by investment analysts at Canaccord Genuity Group from C$75.00 to C$74.00 in a report released on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s target price points to a potential upside of 16.79% from the stock’s current price.

TOU has been the topic of several other reports. Desjardins lifted their price target on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. National Bankshares set a C$72.50 target price on shares of Tourmaline Oil and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Jefferies Financial Group reduced their price objective on shares of Tourmaline Oil from C$75.00 to C$67.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Cormark upgraded shares of Tourmaline Oil to a “hold” rating in a report on Monday, September 23rd. Finally, Scotiabank boosted their target price on shares of Tourmaline Oil from C$90.00 to C$93.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tourmaline Oil presently has a consensus rating of “Moderate Buy” and an average target price of C$77.59.

Tourmaline Oil Price Performance

Shares of TOU stock traded up C$0.93 during trading hours on Tuesday, reaching C$63.36. The stock had a trading volume of 576,775 shares, compared to its average volume of 2,398,876. The stock’s fifty day simple moving average is C$61.48 and its 200 day simple moving average is C$63.13. The company has a current ratio of 1.11, a quick ratio of 0.47 and a debt-to-equity ratio of 10.24. Tourmaline Oil has a 12 month low of C$53.45 and a 12 month high of C$74.21. The firm has a market capitalization of C$23.52 billion, a PE ratio of 15.02, a PEG ratio of 1.72 and a beta of 1.30.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, July 31st. The company reported C$0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.09 by C($0.37). Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. The company had revenue of C$1.31 billion for the quarter, compared to the consensus estimate of C$1.37 billion. On average, equities research analysts predict that Tourmaline Oil will post 5.6809091 EPS for the current year.

Insider Activity

In other news, Senior Officer William Scott Kirker sold 66,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of C$66.37, for a total transaction of C$4,380,274.80. In other news, Senior Officer Mike Rose bought 5,000 shares of Tourmaline Oil stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average cost of C$60.56 per share, with a total value of C$302,778.50. Also, Senior Officer William Scott Kirker sold 66,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of C$66.37, for a total transaction of C$4,380,274.80. Insiders acquired 36,800 shares of company stock valued at $2,233,566 in the last quarter. 5.13% of the stock is currently owned by insiders.

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.