Tourmaline Oil (TSE:TOU) had its price target reduced by stock analysts at BMO Capital Markets from C$20.00 to C$18.00 in a note issued to investors on Monday, BayStreet.CA reports. BMO Capital Markets’ target price suggests a potential upside of 51.64% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Scotiabank raised their price target on shares of Tourmaline Oil from C$16.00 to C$23.00 in a research report on Monday, June 15th. CIBC raised their price target on shares of Tourmaline Oil from C$15.00 to C$17.50 in a research report on Thursday, May 21st. TD Securities raised their price target on shares of Tourmaline Oil from C$15.50 to C$17.50 and gave the company a “buy” rating in a research report on Thursday, May 7th. Tudor Pickering reissued a “buy” rating and issued a C$19.00 price target on shares of Tourmaline Oil in a research report on Thursday, June 18th. Finally, National Bank Financial raised their price target on shares of Tourmaline Oil from C$20.00 to C$22.50 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Seven investment analysts have rated the stock with a buy rating, Tourmaline Oil has a consensus rating of “Buy” and an average target price of C$19.25.

TSE:TOU opened at C$11.87 on Monday. The company has a debt-to-equity ratio of 20.01, a quick ratio of 0.38 and a current ratio of 0.67. The stock has a market capitalization of $3.33 billion and a P/E ratio of 16.42. The company has a 50 day moving average price of C$13.02 and a 200 day moving average price of C$12.60. Tourmaline Oil has a fifty-two week low of C$6.73 and a fifty-two week high of C$17.81.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.15 by C($0.07). The company had revenue of C$669.64 million for the quarter, compared to analysts’ expectations of C$525.00 million. Research analysts forecast that Tourmaline Oil will post 1.3900001 earnings per share for the current fiscal year.

In other news, Director John William Elick bought 3,500 shares of the stock in a transaction dated Thursday, June 4th. The shares were acquired at an average price of C$14.06 per share, with a total value of C$49,209.65. Following the completion of the acquisition, the director now directly owns 14,590 shares in the company, valued at C$205,133.94. Also, Senior Officer Mike Rose bought 10,000 shares of the stock in a transaction dated Monday, June 1st. The stock was purchased at an average cost of C$13.98 per share, for a total transaction of C$139,767.00. Following the acquisition, the insider now owns 8,606,337 shares of the company’s stock, valued at C$120,288,190.35. Over the last 90 days, insiders acquired 47,718 shares of company stock worth $631,599.

Tourmaline Oil Company Profile

Tourmaline Oil Corp., together with its subsidiaries, engages in the acquisition, exploration, development, and production of oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, NEBC Montney, and the Peace River High Triassic oil complex.

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Analyst Recommendations for Tourmaline Oil (TSE:TOU)

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