Tourmaline Oil Corp (TSE:TOU) reached a new 52-week low during trading on Tuesday after BMO Capital Markets lowered their price target on the stock from C$34.00 to C$28.00. The stock traded as low as C$22.79 and last traded at C$22.93, with a volume of 724,714 shares changing hands. The stock had previously closed at C$23.89.
Several other research firms have also commented on TOU. Royal Bank Of Canada reduced their price objective on shares of Tourmaline Oil Corp from C$40.00 to C$35.00 in a research note on Thursday, July 20th. Raymond James Financial, Inc. boosted their price objective on shares of Tourmaline Oil Corp from C$33.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. National Bank Financial reduced their price objective on shares of Tourmaline Oil Corp from C$42.00 to C$40.00 in a research note on Friday, June 23rd. Finally, Macquarie reiterated an “outperform” rating and set a C$40.00 price objective on shares of Tourmaline Oil Corp in a research note on Thursday, September 14th. Six investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus target price of C$40.40.
In related news, insider Mike Rose bought 6,500 shares of the company’s stock in a transaction on Friday, August 11th. The shares were bought at an average price of C$25.09 per share, with a total value of C$163,085.00. Also, Director John William Elick sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of C$26.86, for a total transaction of C$53,720.00. In the last quarter, insiders have purchased 23,000 shares of company stock valued at $565,905 and have sold 156,116 shares valued at $3,784,677.
The firm has a 50 day moving average of $24.82 and a 200-day moving average of $26.67. The company has a market cap of $6.16 billion and a P/E ratio of 20.05.
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About Tourmaline Oil Corp
Tourmaline Oil Corp. is a Canada-based intermediate crude oil and natural gas exploration and production company. The Company is engaged in the acquisition, exploration, development and production of petroleum and natural gas properties. The Company is focused on exploration and acquisition program in the Western Canadian Sedimentary Basin.
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