Desjardins Forecasts Strong Price Appreciation for Tourmaline Oil (TSE:TOU) Stock

Tourmaline Oil (TSE:TOU) had its price target raised by analysts at Desjardins from C$70.00 to C$74.00 in a report released on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Desjardins’ price target suggests a potential upside of 16.39% from the stock’s current price.

Several other brokerages also recently weighed in on TOU. Raymond James Financial raised their price target on shares of Tourmaline Oil from C$69.00 to C$72.00 in a research report on Thursday. Canadian Imperial Bank of Commerce lowered their price objective on Tourmaline Oil from C$71.00 to C$66.00 in a research report on Tuesday, January 13th. Scotiabank reduced their target price on Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating for the company in a report on Wednesday, January 21st. Royal Bank Of Canada decreased their price target on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a research note on Friday. Finally, ATB Cormark Capital Markets lowered their price target on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Tourmaline Oil has a consensus rating of “Buy” and an average price target of C$71.22.

Tourmaline Oil Stock Up 0.3%

Tourmaline Oil stock traded up C$0.21 during mid-day trading on Monday, reaching C$63.58. The stock had a trading volume of 12,062,136 shares, compared to its average volume of 2,563,343. Tourmaline Oil has a one year low of C$55.40 and a one year high of C$70.73. The company has a 50-day moving average price of C$61.74 and a two-hundred day moving average price of C$61.27. The company has a market capitalization of C$24.61 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.72 and a beta of 0.00. The company has a debt-to-equity ratio of 12.25, a current ratio of 0.83 and a quick ratio of 0.47.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings data on Wednesday, March 4th. The company reported C($1.72) earnings per share for the quarter. The firm had revenue of C$1.66 billion for the quarter. Tourmaline Oil had a net margin of 5.03% and a return on equity of 1.65%. On average, analysts expect that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Insider Activity at Tourmaline Oil

In related news, insider Mike Rose bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were bought at an average cost of C$62.21 per share, with a total value of C$622,100.00. Following the acquisition, the insider owned 8,042,678 shares in the company, valued at C$500,334,998.38. This trade represents a 0.12% increase in their ownership of the stock. 5.13% of the stock is owned by company insiders.

About Tourmaline Oil

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.