Tourmaline Oil Stock – Tourmaline Oil (TSE:TOU) PT Raised to C$37.50
Tourmaline Oil (TSE:TOU) had its price target raised by investment analysts at ATB Capital from C$33.75 to C$37.50 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. ATB Capital’s price target indicates a potential upside of 22.47% from the company’s previous close.
TOU has been the subject of a number of other research reports. Tudor Pickering & Holt increased their target price on shares of Tourmaline Oil from C$30.00 to C$32.00 and gave the company a “buy” rating in a research report on Wednesday, May 19th. BMO Capital Markets increased their price objective on Tourmaline Oil from C$33.00 to C$38.00 and gave the company a “na” rating in a report on Wednesday, May 19th. Cormark lifted their target price on Tourmaline Oil from C$30.00 to C$35.00 and gave the stock a “na” rating in a report on Thursday, March 11th. CIBC reiterated an “outperform” rating and issued a C$35.00 price target on shares of Tourmaline Oil in a report on Thursday, May 20th. Finally, Royal Bank of Canada restated an “outperform” rating and set a C$36.00 price objective on shares of Tourmaline Oil in a research note on Tuesday, May 25th. Eight research analysts have rated the stock with a buy rating, Tourmaline Oil has a consensus rating of “Buy” and a consensus price target of C$35.83.
TSE TOU traded up C$0.55 during trading on Wednesday, reaching C$30.62. 681,273 shares of the company’s stock traded hands, compared to its average volume of 1,360,081. Tourmaline Oil has a 12-month low of C$11.40 and a 12-month high of C$31.70. The company has a debt-to-equity ratio of 15.59, a quick ratio of 0.61 and a current ratio of 0.66. The stock has a market cap of C$9.09 billion and a price-to-earnings ratio of 9.38. The company has a 50 day simple moving average of C$27.02.
Tourmaline Oil (TSE:TOU) last released its quarterly earnings data on Wednesday, May 5th. The company reported C$0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$0.80 by C$0.03. The business had revenue of C$950.59 million for the quarter. As a group, analysts predict that Tourmaline Oil will post 2.6806374 earnings per share for the current year.
In related news, Senior Officer Mike Rose purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 18th. The stock was bought at an average price of C$24.23 per share, with a total value of C$121,138.00. Following the acquisition, the insider now owns 8,788,837 shares in the company, valued at C$212,932,427.30. Insiders purchased a total of 20,000 shares of company stock worth $476,555 in the last three months.
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.
Further Reading: Compound Annual Growth Rate (CAGR)
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