Tourmaline Oil (TSE:TOU) Price Target Lowered to C$74.00 at Canaccord Genuity Group

Tourmaline Oil (TSE:TOU - Get Free Report) had its price target reduced by equities research analysts at Canaccord Genuity Group from C$75.00 to C$74.00 in a report issued on Tuesday, BayStreet.CA reports. Canaccord Genuity Group's price objective points to a potential upside of 16.94% from the company's current price.

Several other analysts also recently issued reports on the stock. Cormark raised shares of Tourmaline Oil to a "hold" rating in a research report on Monday, September 23rd. National Bankshares set a C$72.50 target price on shares of Tourmaline Oil and gave the stock a "buy" rating in a research report on Tuesday, September 24th. Desjardins raised their price target on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the company a "buy" rating in a research report on Tuesday, August 13th. Jefferies Financial Group cut their price target on Tourmaline Oil from C$75.00 to C$67.00 and set a "buy" rating for the company in a research note on Monday, September 16th. Finally, Scotiabank increased their price objective on Tourmaline Oil from C$90.00 to C$93.00 and gave the stock an "outperform" rating in a research note 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$77.59.

Tourmaline Oil Stock Up 1.4 %

TOU traded up C$0.85 during midday trading on Tuesday, hitting C$63.28. The company had a trading volume of 1,066,484 shares, compared to its average volume of 2,401,276. The stock's 50 day moving average price is C$61.48 and its 200 day moving average price is C$63.13. Tourmaline Oil has a 52 week low of C$53.45 and a 52 week high of C$74.21. The company has a market capitalization of C$23.49 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 1.72 and a beta of 1.30. The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24.

Tourmaline Oil (TSE:TOU - Get Free Report) last issued its earnings results on Wednesday, July 31st. The company reported C$0.72 EPS for the quarter, missing analysts' consensus estimates of C$1.09 by C($0.37). The firm had revenue of C$1.31 billion during the quarter, compared to the consensus estimate of C$1.37 billion. Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. On average, research analysts anticipate that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Insider Activity

In related news, Senior Officer Mike Rose bought 5,000 shares of Tourmaline Oil stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of C$60.56 per share, with a total value of C$302,778.50. In other news, Senior Officer Mike Rose purchased 5,000 shares of the business's stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of C$60.56 per share, for a total transaction of C$302,778.50. Also, Director Jill Terilee Angevine acquired 3,000 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average price of C$63.17 per share, for a total transaction of C$189,510.00. Insiders acquired a total of 36,800 shares of company stock valued at $2,233,566 in the last ninety days. 5.13% of the stock is currently owned by insiders.

Tourmaline Oil Company Profile

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.