Tourmaline Oil (TOU) Trading Up -0.7%

Tourmaline Oil Corp (TSE:TOU) shares were up 0.7% on Thursday . The company traded as high as C$21.27 and last traded at C$20.77. Approximately 1,936,889 shares were traded during mid-day trading, an increase of 67% from the average daily volume of 1,159,763 shares. The stock had previously closed at C$20.92.

A number of research firms have issued reports on TOU. Raymond James Financial lowered their target price on Tourmaline Oil from C$38.00 to C$30.00 and set an “outperform” rating on the stock in a report on Thursday. National Bank Financial lowered their target price on Tourmaline Oil from C$37.50 to C$30.00 and set an “outperform” rating on the stock in a report on Tuesday. CIBC lowered their target price on Tourmaline Oil from C$33.00 to C$30.00 in a report on Tuesday, October 17th. TD Securities raised their target price on Tourmaline Oil from C$32.00 to C$34.00 and gave the company a “buy” rating in a report on Thursday, November 9th. Finally, BMO Capital Markets lowered their target price on Tourmaline Oil from C$34.00 to C$28.00 in a report on Tuesday, October 10th. Seven investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus price target of C$35.33.

The company has a market capitalization of $5,860.00, a price-to-earnings ratio of 18.01 and a beta of 0.02.

In other news, insider Mike Rose acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were bought at an average price of C$25.55 per share, with a total value of C$51,100.00. Also, insider Ronald John Hill acquired 8,000 shares of the firm’s stock in a transaction dated Wednesday, October 18th. The shares were purchased at an average cost of C$22.89 per share, for a total transaction of C$183,120.00. Insiders have bought a total of 21,000 shares of company stock worth $486,210 in the last three months.

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About Tourmaline Oil

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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