Tourmaline Oil (TSE:TOU) Given New C$73.50 Price Target at Canaccord Genuity Group

Tourmaline Oil (TSE:TOU) had its target price increased by stock analysts at Canaccord Genuity Group from C$72.50 to C$73.50 in a note issued to investors on Thursday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 11.45% from the stock’s current price.

Several other equities research analysts have also issued reports on the company. CIBC upped their price target on Tourmaline Oil from C$77.50 to C$80.00 and gave the company an “outperform” rating in a research report on Thursday. TD Securities dropped their price target on Tourmaline Oil from C$75.00 to C$72.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. ATB Capital dropped their target price on Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 20th. Raymond James dropped their target price on Tourmaline Oil from C$90.00 to C$85.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 19th. Finally, Stifel Nicolaus increased their target price on Tourmaline Oil from C$75.00 to C$80.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$78.38.

Tourmaline Oil Stock Up 0.2 %

Shares of Tourmaline Oil stock traded up C$0.16 on Thursday, hitting C$65.95. 780,161 shares of the company’s stock traded hands, compared to its average volume of 1,974,811. The stock has a market cap of C$23.18 billion, a P/E ratio of 13.06, a PEG 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. The firm’s 50-day moving average is C$63.24 and its 200 day moving average is C$63.05. Tourmaline Oil has a 52-week low of C$53.45 and a 52-week high of C$74.21.

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

Insider Activity at Tourmaline Oil

In related news, Senior Officer Mike Rose purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was acquired at an average price of C$55.41 per share, for a total transaction of C$277,025.00. Insiders bought 12,630 shares of company stock valued at $743,877 over the last 90 days. 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.