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.
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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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