Desjardins Forecasts Strong Price Appreciation for Tourmaline Oil (TSE:TOU) Stock

Tourmaline Oil (TSE:TOU - Get Free Report) had its target price increased by equities research analysts at Desjardins from C$74.00 to C$76.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. Desjardins' price objective points to a potential upside of 21.43% from the company's previous close.

A number of other research firms have also commented on TOU. UBS Group lifted their price objective on Tourmaline Oil from C$79.00 to C$80.00 in a research note on Thursday, February 13th. CIBC lowered their target price on shares of Tourmaline Oil from C$80.00 to C$72.50 in a research note on Thursday, April 10th. National Bankshares upped their price target on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. Raymond James set a C$78.00 price objective on Tourmaline Oil and gave the stock an "outperform" rating in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group upped their target price on Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Tourmaline Oil has an average rating of "Moderate Buy" and an average price target of C$77.05.

Tourmaline Oil Price Performance

TSE:TOU traded up C$0.70 during trading hours on Tuesday, hitting C$62.59. The company's stock had a trading volume of 2,159,272 shares, compared to its average volume of 2,401,285. Tourmaline Oil has a twelve month low of C$55.27 and a twelve month high of C$70.83. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. The stock has a fifty day simple moving average of C$65.35 and a 200-day simple moving average of C$65.23. The company has a market capitalization of C$23.32 billion, a P/E ratio of 14.13, a PEG ratio of 1.72 and a beta of 1.30.

Insider Buying and Selling

In other Tourmaline Oil news, Senior Officer Mike Rose bought 2,500 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average price of C$63.30 per share, for a total transaction of C$158,252.50. Also, Director Jill Terilee Angevine purchased 1,000 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average cost of C$66.63 per share, for a total transaction of C$66,630.00. Insiders have bought a total of 11,000 shares of company stock worth $717,260 in the last ninety days. Corporate insiders own 5.13% of the company's stock.

Tourmaline Oil Company Profile

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.