Tourmaline Oil (TSE:TOU) Price Target Raised to C$76.00

Tourmaline Oil (TSE:TOU) had its price target raised by stock analysts at Scotiabank from C$59.00 to C$76.00 in a report released on Thursday, BayStreet.CA reports. Scotiabank’s price objective points to a potential upside of 69.57% from the company’s previous close.

Several other brokerages have also recently weighed in on TOU. Stifel Firstegy reaffirmed a “buy” rating on shares of Tourmaline Oil in a research note on Tuesday, September 21st. ATB Capital reissued an “outperform” rating on shares of Tourmaline Oil in a report on Friday, September 24th. CIBC reissued an “outperform” rating and issued a C$55.00 price objective (up previously from C$47.50) on shares of Tourmaline Oil in a report on Thursday, September 23rd. Canaccord Genuity reissued a “buy” rating on shares of Tourmaline Oil in a report on Thursday, September 16th. Finally, Royal Bank of Canada increased their price objective on Tourmaline Oil from C$44.00 to C$46.00 and gave the company an “outperform” rating in a report on Thursday, September 23rd. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tourmaline Oil has an average rating of “Buy” and an average price target of C$52.38.

TSE TOU traded up C$1.71 during trading hours on Thursday, reaching C$44.82. 1,431,632 shares of the company’s stock were exchanged, compared to its average volume of 1,504,844. The company’s 50-day moving average is C$37.74 and its two-hundred day moving average is C$32.65. Tourmaline Oil has a one year low of C$16.47 and a one year high of C$46.18. The company has a debt-to-equity ratio of 17.36, a quick ratio of 0.54 and a current ratio of 0.59. The company has a market capitalization of C$13.40 billion and a price-to-earnings ratio of 9.84.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, July 28th. The company reported C$0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.73 by C($0.40). The company had revenue of C$723.27 million during the quarter. Research analysts predict that Tourmaline Oil will post 4.4200002 earnings per share for the current fiscal year.

In related news, Senior Officer Mike Rose purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 4th. The shares were bought at an average price of C$33.73 per share, for a total transaction of C$168,664.00. Following the completion of the transaction, the insider now owns 8,821,058 shares of the company’s stock, valued at C$297,558,985.30. Also, Senior Officer Earl Henry Mckinnon purchased 1,484 shares of the firm’s stock in a transaction that occurred on Tuesday, September 28th. The stock was bought at an average price of C$43.76 per share, for a total transaction of C$64,939.84. Following the transaction, the insider now directly owns 77,704 shares of the company’s stock, valued at approximately C$3,400,327.04. Insiders purchased 18,984 shares of company stock worth $627,670 in the last 90 days.

About Tourmaline Oil

Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. The company was incorporated in 2008 and is headquartered in Calgary, Canada.

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Analyst Recommendations for Tourmaline Oil (TSE:TOU)

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