Tourmaline Oil (TSE:TOU) had its price target lifted by equities research analysts at Tudor Pickering & Holt from C$44.00 to C$52.00 in a note issued to investors on Thursday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Tudor Pickering & Holt’s price target suggests a potential upside of 18.64% from the stock’s current price.
Several other analysts have also recently issued reports on the company. Cormark upped their target price on Tourmaline Oil from C$45.00 to C$50.00 in a report on Friday, July 30th. National Bank Financial upped their target price on Tourmaline Oil from C$40.00 to C$45.00 and gave the company an “outperform” rating in a report on Thursday. TD Securities upped their target price on Tourmaline Oil from C$47.00 to C$48.00 and gave the company a “buy” rating in a report on Friday, July 16th. Stifel Firstegy restated a “buy” rating on shares of Tourmaline Oil in a report on Tuesday. Finally, Scotiabank increased their price target on Tourmaline Oil from C$47.00 to C$57.00 in a report on Thursday, July 15th. Eleven investment 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 a consensus rating of “Buy” and a consensus price target of C$50.46.
Shares of TOU opened at C$43.83 on Thursday. The company has a debt-to-equity ratio of 17.36, a quick ratio of 0.54 and a current ratio of 0.59. Tourmaline Oil has a one year low of C$15.84 and a one year high of C$44.13. The stock has a market capitalization of C$13.10 billion and a price-to-earnings ratio of 9.64. The stock has a 50 day moving average price of C$35.15 and a 200 day moving average price of C$30.80.
In related news, Senior Officer Mike Rose purchased 5,000 shares of Tourmaline Oil stock in a transaction on Wednesday, August 4th. The shares were bought at an average price of C$33.73 per share, with a total value of C$168,664.00. Following the transaction, the insider now directly owns 8,821,058 shares of the company’s stock, valued at C$297,558,985.30. Insiders acquired a total of 20,000 shares of company stock worth $644,873 in the last ninety days.
About Tourmaline Oil
Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. The company was incorporated in 2008 and is headquartered in Calgary, Canada.
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