Tourmaline Oil (TSE:TOU) Given New C$66.00 Price Target at TD

Tourmaline Oil (TSE:TOU) had its price target raised by equities research analysts at TD from C$65.00 to C$66.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD’s target price suggests a potential upside of 1.88% from the stock’s previous close.

TOU has been the subject of a number of other reports. Canaccord Genuity Group lowered Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 target price for the company. in a report on Thursday, May 7th. Desjardins set a C$68.00 target price on Tourmaline Oil and gave the company a “hold” rating in a report on Friday, July 17th. BMO Capital Markets lowered Tourmaline Oil from an “outperform” rating to a “market perform” rating and raised their price target for the stock from C$67.00 to C$70.00 in a report on Thursday, May 7th. Finally, Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research report on Friday, June 26th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$70.00.

Tourmaline Oil Trading Up 1.8%

TSE:TOU traded up C$1.12 during trading hours on Wednesday, hitting C$64.78. The company had a trading volume of 650,310 shares, compared to its average volume of 2,815,718. The company has a 50-day moving average of C$62.78 and a 200 day moving average of C$62.99. 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$25.15 billion, a P/E ratio of 35.79, a P/E/G ratio of 1.72 and a beta of -0.27. Tourmaline Oil has a 1 year low of C$56.72 and a 1 year 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 (EPS) for the quarter. The business had revenue of C$1.78 billion during the quarter. Tourmaline Oil had a net margin of 12.79% and a return on equity of 4.40%. Sell-side analysts expect 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 2,500 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was acquired at an average price of C$59.84 per share, for a total transaction of C$149,600.00. Following the acquisition, the insider owned 8,115,178 shares of the company’s stock, valued at C$485,612,251.52. This trade represents a 0.03% increase in their ownership of the stock. Also, insider James William Alexander Heard purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were acquired at an average cost of C$58.88 per share, with a total value of C$58,880.00. Following the completion of the transaction, the insider owned 67,476 shares in the company, valued at C$3,972,986.88. This trade represents a 1.50% increase in their position. Insiders bought a total of 44,266 shares of company stock worth $2,760,824 in the last three months. 5.13% of the stock is currently owned by insiders.

Tourmaline Oil Company Profile

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.