Tourmaline Oil (TSE:TOU) Given New C$73.00 Price Target at Jefferies Financial Group

Tourmaline Oil (TSE:TOU - Get Free Report) had its price objective upped by Jefferies Financial Group from C$67.00 to C$73.00 in a note issued to investors on Thursday,BayStreet.CA reports. Jefferies Financial Group's price objective points to a potential upside of 15.58% from the stock's previous close.

Other equities research analysts have also issued research reports about the stock. TD Securities dropped their price target on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a "buy" rating on the stock in a research note on Wednesday, October 23rd. Canaccord Genuity Group cut their target price on Tourmaline Oil from C$75.00 to C$74.00 in a research note on Tuesday, October 22nd. National Bankshares set a C$72.50 price target on Tourmaline Oil and gave the stock a "buy" rating in a research note on Tuesday, September 24th. Desjardins lifted their price objective on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the company a "buy" rating in a research note on Tuesday, August 13th. Finally, Scotiabank increased their target price on shares of Tourmaline Oil from C$90.00 to C$93.00 and gave the company an "outperform" rating in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$78.41.

Tourmaline Oil Stock Performance

TOU traded down C$1.96 on Thursday, hitting C$63.16. 9,158,795 shares of the company's stock were exchanged, compared to its average volume of 2,408,768. The company has a current ratio of 1.11, a quick ratio of 0.47 and a debt-to-equity ratio of 10.24. The stock has a fifty day moving average of C$62.09 and a two-hundred day moving average of C$63.08. Tourmaline Oil has a twelve month low of C$53.45 and a twelve month high of C$70.00. The firm has a market cap of C$23.45 billion, a PE ratio of 14.97, a P/E/G ratio of 1.72 and a beta of 1.30.

Tourmaline Oil (TSE:TOU - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported C$1.00 earnings per share for the quarter, missing analysts' consensus estimates of C$1.26 by C($0.26). Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. The company had revenue of C$1.47 billion for the quarter, compared to analyst estimates of C$1.63 billion. On average, research analysts anticipate that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Senior Officer Mike Rose bought 2,500 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were bought at an average cost of C$63.32 per share, with a total value of C$158,310.00. In other news, Director Jill Terilee Angevine bought 1,300 shares of the business's stock in a transaction on Tuesday, August 13th. The shares were bought at an average cost of C$61.29 per share, with a total value of C$79,677.00. Also, Senior Officer Mike Rose bought 2,500 shares of Tourmaline Oil stock in a transaction dated Tuesday, October 15th. The stock was acquired at an average price of C$63.32 per share, with a total value of C$158,310.00. Over the last 90 days, insiders have acquired 36,800 shares of company stock worth $2,233,566. 5.13% of the stock is owned by 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.