Tourmaline Oil Corp (TOU) Trading Up 3.4%

Shares of Tourmaline Oil Corp (TSE:TOU) were up 3.4% during trading on Thursday . The company traded as high as C$23.62 and last traded at C$23.48. Approximately 617,931 shares traded hands during trading, an increase of 44% from the average daily volume of 430,413 shares. The stock had previously closed at C$22.70.

A number of analysts have commented on TOU shares. Raymond James Financial, Inc. upped their target price on shares of Tourmaline Oil Corp from C$33.00 to C$36.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. National Bank Financial reduced their target price on shares of Tourmaline Oil Corp from C$40.00 to C$37.50 and set an “outperform” rating for the company in a report on Friday. Macquarie reaffirmed an “outperform” rating and set a C$40.00 target price on shares of Tourmaline Oil Corp in a report on Thursday, September 14th. Royal Bank Of Canada reduced their target price on shares of Tourmaline Oil Corp from C$40.00 to C$35.00 in a report on Thursday, July 20th. Finally, BMO Capital Markets reduced their target price on shares of Tourmaline Oil Corp from C$34.00 to C$28.00 in a report on Tuesday. Seven investment analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of C$40.15.

The company’s 50 day moving average price is $24.74 and its 200 day moving average price is $26.58. The firm has a market capitalization of $6.28 billion and a price-to-earnings ratio of 20.47.

In related news, Director John William Elick sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of C$26.86, for a total value of C$53,720.00. Also, insider Brian Robinson sold 100,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of C$24.20, for a total transaction of C$2,420,000.00. Over the last quarter, insiders purchased 24,000 shares of company stock valued at $588,335 and sold 156,116 shares valued at $3,784,677.

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Tourmaline Oil Corp Company Profile

Tourmaline Oil Corp. is a Canada-based intermediate crude oil and natural gas exploration and production company. The Company is engaged in the acquisition, exploration, development and production of petroleum and natural gas properties. The Company is focused on exploration and acquisition program in the Western Canadian Sedimentary Basin.

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