Stifel Nicolaus Boosts Tourmaline Oil (TSE:TOU) Price Target to C$80.00

Tourmaline Oil (TSE:TOU) had its price target lifted by Stifel Nicolaus from C$75.00 to C$80.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 21.10% from the company’s previous close.

Several other analysts also recently weighed in 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 for the company in a research report on Friday, January 19th. National Bankshares decreased their price objective on shares of Tourmaline Oil from C$80.00 to C$70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 10th. BMO Capital Markets cut their target price on Tourmaline Oil from C$78.00 to C$75.00 in a research note on Thursday, March 28th. ATB Capital dropped their price objective on Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating for the company in a report on Wednesday, March 20th. Finally, CIBC lifted their price target on shares of Tourmaline Oil from C$72.50 to C$77.51 and gave the company an “outperform” rating in a report on Monday. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tourmaline Oil has a consensus rating of “Buy” and an average price target of C$78.08.

Tourmaline Oil Price Performance

TOU traded up C$0.36 on Tuesday, reaching C$66.06. The company had a trading volume of 446,637 shares, compared to its average volume of 2,003,640. The business has a 50 day simple moving average of C$61.75 and a 200 day simple moving average of C$63.09. 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 company has a market cap of C$23.22 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 1.72 and a beta of 1.40.

Tourmaline Oil (TSE:TOU) last posted 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. Tourmaline Oil had a net margin of 35.87% and a return on equity of 12.53%. The business had revenue of C$1.66 billion during the quarter, compared to the consensus estimate of C$1.49 billion. As a group, sell-side analysts anticipate that Tourmaline Oil will post 4.710507 EPS for the current year.

Insider Buying and Selling

In other news, Director Janet Weiss acquired 650 shares of Tourmaline Oil stock in a transaction on 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. In related news, Senior Officer Mike Rose bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were bought at an average price of C$59.42 per share, for a total transaction of C$148,543.00. Also, Director Janet Weiss bought 650 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were bought at an average price of C$43.66 per share, with a total value of C$28,376.40. Insiders have bought a total of 13,680 shares of company stock worth $795,961 in the last quarter. Corporate insiders own 5.19% of the company’s stock.

About Tourmaline Oil

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.