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

Tourmaline Oil (TSE:TOU - Get Free Report) had its price objective increased by Desjardins from C$74.00 to C$76.00 in a report released on Tuesday,BayStreet.CA reports. The firm presently has a "hold" rating on the stock. Desjardins' price target indicates a potential upside of 21.43% from the company's current price.

TOU has been the topic of a number of other reports. Raymond James set a C$78.00 target price on shares of Tourmaline Oil and gave the stock an "outperform" rating in a report on Tuesday, April 8th. 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 report on Thursday, December 19th. Cormark upgraded Tourmaline Oil from a "hold" rating to a "moderate buy" rating in a research report on Friday, March 7th. Jefferies Financial Group raised their price objective on Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday, December 16th. Finally, CIBC reduced their target price on Tourmaline Oil from C$80.00 to C$72.50 in a report on Thursday, April 10th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of C$77.05.

Tourmaline Oil Price Performance

Tourmaline Oil stock traded up C$0.70 during midday trading on Tuesday, reaching C$62.59. The company's stock had a trading volume of 2,159,272 shares, compared to its average volume of 2,401,285. The stock has a market cap of C$23.32 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13. Tourmaline Oil has a 52 week low of C$55.27 and a 52 week high of C$70.83. The business has a 50-day moving average price of C$65.35 and a 200-day moving average price of C$65.23.

Insider Buying and Selling

In other Tourmaline Oil news, Senior Officer Mike Rose bought 2,500 shares of the business's stock in a transaction dated Monday, January 27th. The shares were purchased at an average price of C$67.43 per share, for a total transaction of C$168,575.00. Also, Director Jill Terilee Angevine purchased 1,000 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average cost of C$66.63 per share, with a total value of C$66,630.00. Over the last 90 days, insiders purchased 11,000 shares of company stock worth $717,260. 5.13% of the stock is owned by corporate insiders.

Tourmaline Oil Company Profile

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.