CIBC Has Lowered Expectations for Tourmaline Oil (TSE:TOU) Stock Price

Key Points

• CIBC has reduced its price target for Tourmaline Oil (TSE:TOU) from C$75.00 to C$74.00, while maintaining an "outperform" rating, indicating a potential upside of 25.59% based on the stock's previous close.
• Several other analysts have also revised their target prices for Tourmaline Oil, with UBS lowering their target to C$71.00 and Desjardins increasing theirs to C$76.00, while the consensus rating remains at "Moderate Buy" with an average target of C$76.50.
• Tourmaline Oil's stock has been trading lower, hitting C$58.92, and the company holds a market cap of C$21.96 billion, alongside significant insider transactions over the past 90 days.

Tourmaline Oil (TSE:TOU - Get Free Report) had its price target decreased by research analysts at CIBC from C$75.00 to C$74.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. CIBC's target price points to a potential upside of 25.59% from the company's previous close.

A number of other equities research analysts have also recently commented on TOU. UBS Group dropped their target price on Tourmaline Oil from C$74.00 to C$71.00 in a research report on Thursday, April 17th. Desjardins boosted their price objective on Tourmaline Oil from C$74.00 to C$76.00 and gave the company a "hold" rating in a research report on Tuesday, April 15th. TD Securities reduced their target price on Tourmaline Oil from C$77.00 to C$75.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, Raymond James Financial cut shares of Tourmaline Oil from an "outperform" rating to a "market perform" rating and dropped their price target for the company from C$76.00 to C$74.00 in a research note on Thursday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Tourmaline Oil has a consensus rating of "Moderate Buy" and an average price target of C$76.50.

Tourmaline Oil Stock Performance

TOU stock traded down C$4.01 during midday trading on Thursday, hitting C$58.92. 4,072,020 shares of the stock traded hands, compared to its average volume of 2,133,175. Tourmaline Oil has a 1-year low of C$55.27 and a 1-year high of C$70.83. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. The stock's fifty day simple moving average is C$63.77 and its 200-day simple moving average is C$64.74. The firm has a market cap of C$21.96 billion, a P/E ratio of 13.30, a PEG ratio of 1.72 and a beta of 1.30.

Insider Transactions at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer William Scott Kirker sold 56,000 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of C$64.94, for a total value of C$3,636,561.60. Also, Senior Officer Mike Rose bought 5,000 shares of the firm's stock in a transaction on Monday, May 12th. The stock was acquired at an average cost of C$62.98 per share, for a total transaction of C$314,917.00. Insiders have purchased 40,000 shares of company stock worth $2,547,532 over the last 90 days. 5.13% of the stock is currently owned by company insiders.

About Tourmaline Oil

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.

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