CIBC Raises Tourmaline Oil (TSE:TOU) Price Target to C$80.00

Tourmaline Oil (TSE:TOU) had its price target raised by analysts at CIBC from C$75.00 to C$80.00 in a report released on Friday,BayStreet.CA reports. CIBC’s price target would suggest a potential upside of 19.39% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. UBS Group raised their target price on Tourmaline Oil from C$70.00 to C$73.00 in a research report on Monday, December 9th. Cormark raised Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd. National Bankshares raised their target price on Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Canaccord Genuity Group dropped their price objective on Tourmaline Oil from C$75.00 to C$74.00 in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group lifted their target price on Tourmaline Oil from C$73.00 to C$76.00 in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tourmaline Oil currently has a consensus rating of “Moderate Buy” and an average target price of C$78.42.

Tourmaline Oil Stock Performance

Tourmaline Oil stock traded up C$0.42 during midday trading on Friday, hitting C$67.01. 380,023 shares of the company were exchanged, compared to its average volume of 1,533,278. The firm has a market capitalization of C$24.87 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The business has a fifty day simple moving average of C$64.90 and a two-hundred day simple moving average of C$62.71. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.47 and a current ratio of 1.11. Tourmaline Oil has a fifty-two week low of C$53.45 and a fifty-two week high of C$70.65.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, November 6th. The company reported C$1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.26 by C($0.26). The business had revenue of C$1.47 billion for the quarter, compared to analysts’ expectations of C$1.63 billion. Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. On average, sell-side analysts forecast that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Insider Activity at Tourmaline Oil

In related news, Senior Officer Mike Rose purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were purchased at an average price of C$62.27 per share, for a total transaction of C$155,664.50. Insiders have purchased 12,500 shares of company stock worth $805,187 in the last quarter. Company insiders own 5.13% of the company’s stock.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.