Tourmaline Oil Stock – National Bank Financial Boosts Tourmaline Oil (TSE:TOU) price Target to C$40.00
Tourmaline Oil (TSE:TOU) had its price objective upped by investment analysts at National Bank Financial to C$40.00 in a research report issued on Monday, Stock Target Advisor reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s price objective indicates a potential upside of 22.96% from the company’s previous close.
A number of other research firms have also issued reports on TOU. Tudor Pickering & Holt raised their price target on shares of Tourmaline Oil from C$30.00 to C$32.00 and gave the stock a “buy” rating in a research report on Wednesday, May 19th. Tudor Pickering boosted their target price on shares of Tourmaline Oil to C$32.00 and gave the company a “buy” rating in a research report on Wednesday, May 19th. TD Securities increased their price target on Tourmaline Oil from C$35.00 to C$37.00 and gave the stock a “buy” rating in a research report on Monday. Cormark boosted their price objective on Tourmaline Oil from C$30.00 to C$35.00 and gave the company a “na” rating in a report on Thursday, March 11th. Finally, Canaccord Genuity raised their target price on Tourmaline Oil from C$34.00 to C$36.00 and gave the stock a “buy” rating in a report on Wednesday, May 19th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Tourmaline Oil currently has a consensus rating of “Buy” and a consensus target price of C$37.81.
Shares of TSE:TOU traded down C$0.72 on Monday, hitting C$32.53. 1,338,418 shares of the company were exchanged, compared to its average volume of 1,368,802. The stock has a market cap of C$9.66 billion and a price-to-earnings ratio of 10.08. The company has a debt-to-equity ratio of 15.59, a current ratio of 0.66 and a quick ratio of 0.61. Tourmaline Oil has a 1-year low of C$11.40 and a 1-year high of C$34.33. The stock has a 50 day moving average price of C$27.44.
Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, May 5th. The company reported C$0.83 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.80 by C$0.03. The firm had revenue of C$950.59 million for the quarter. On average, sell-side analysts forecast that Tourmaline Oil will post 2.6795386 EPS for the current fiscal year.
In related news, Senior Officer Mike Rose bought 5,000 shares of the company’s stock in a transaction dated Thursday, March 18th. The shares were acquired at an average price of C$24.23 per share, for a total transaction of C$121,138.00. Following the completion of the transaction, the insider now directly owns 8,788,837 shares in the company, valued at C$212,932,427.30. Over the last ninety days, insiders have acquired 20,000 shares of company stock worth $476,555.
Tourmaline Oil Company Profile
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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