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

Tourmaline Oil (TSE:TOU) had its target price boosted by stock analysts at CIBC from C$77.50 to C$80.00 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s price objective suggests a potential upside of 21.30% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. BMO Capital Markets cut their target price on shares of Tourmaline Oil from C$78.00 to C$75.00 in a research note on Thursday, March 28th. Stifel Nicolaus lifted their price target on Tourmaline Oil from C$75.00 to C$80.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Scotiabank lowered their price target on Tourmaline Oil from C$100.00 to C$90.00 and set an “outperform” rating for the company in a report on Tuesday, January 16th. Desjardins lowered their price target on Tourmaline Oil from C$75.00 to C$74.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. Finally, TD Securities lowered their price target on Tourmaline Oil from C$75.00 to C$72.00 and set a “buy” rating for the company in a report on Thursday, March 7th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$78.38.

Tourmaline Oil Price Performance

TOU stock traded up C$0.16 on Thursday, reaching C$65.95. 780,161 shares of the company’s stock were exchanged, compared to its average volume of 1,974,811. The stock has a fifty day moving average of C$63.24 and a 200-day moving average of C$63.05. The firm has a market cap of C$23.18 billion, a PE ratio of 13.06, a P/E/G ratio of 1.72 and a beta of 1.40. The company has a quick ratio of 0.47, a current ratio of 0.81 and a debt-to-equity ratio of 8.04. Tourmaline Oil has a twelve month low of C$53.45 and a twelve month high of C$74.21.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.41 by C$0.59. The business had revenue of C$1.66 billion during the quarter, compared to the consensus estimate of C$1.49 billion. Tourmaline Oil had a return on equity of 12.53% and a net margin of 35.87%. As a group, equities analysts predict that Tourmaline Oil will post 4.710507 EPS for the current fiscal year.

Insider Transactions at Tourmaline Oil

In other news, Senior Officer Mike Rose bought 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was acquired at an average price of C$59.42 per share, with a total value of C$148,543.00. Over the last quarter, insiders acquired 12,630 shares of company stock valued at $743,877. 5.19% of the stock is currently owned by corporate insiders.

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.