Jefferies Financial Group Issues Positive Forecast for Tourmaline Oil (TSE:TOU) Stock Price

Key Points

• Jefferies Financial Group raised its price target on Tourmaline Oil from C$72.00 to C$74.00, implying about 12.84% upside from the prior close.
• Analyst sentiment is mixed but generally positive: Tourmaline Oil has a Moderate Buy average rating, with an average price target of C$70.36 from MarketBeat data.
• The stock traded up 1.1% to C$65.58, while the company’s latest quarterly results showed C$1.69 EPS on revenue of C$1.78 billion.

Tourmaline Oil (TSE:TOU - Get Free Report) had its price objective increased by stock analysts at Jefferies Financial Group from C$72.00 to C$74.00 in a research report issued on Friday,BayStreet.CA reports. Jefferies Financial Group's price objective indicates a potential upside of 12.84% from the company's previous close.

A number of other research analysts have also weighed in on the stock. BMO Capital Markets lowered shares of Tourmaline Oil from an "outperform" rating to a "market perform" rating and boosted their target price for the stock from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Scotiabank raised Tourmaline Oil to a "strong-buy" rating in a research report on Friday, June 26th. Desjardins set a C$68.00 price objective on Tourmaline Oil and gave the stock a "hold" rating in a research note on Friday, July 17th. Canaccord Genuity Group cut Tourmaline Oil from a "buy" rating to a "hold" rating and set a C$70.00 price objective for the company. in a research report on Thursday, May 7th. Finally, TD increased their target price on Tourmaline Oil from C$65.00 to C$66.00 and gave the company a "hold" rating in a research note on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Tourmaline Oil has an average rating of "Moderate Buy" and an average price target of C$70.36.

Tourmaline Oil Stock Up 1.1%

Shares of TOU traded up C$0.69 during midday trading on Friday, reaching C$65.58. 490,799 shares of the stock were exchanged, compared to its average volume of 2,798,391. Tourmaline Oil has a 12-month low of C$56.72 and a 12-month high of C$70.57. The firm has a 50 day simple moving average of C$62.74 and a 200-day simple moving average of C$63.04. The company has a quick ratio of 0.47, a current ratio of 0.88 and a debt-to-equity ratio of 7.14. The company has a market cap of C$25.47 billion, a price-to-earnings ratio of 36.23, a P/E/G ratio of 1.72 and a beta of -0.27.

Tourmaline Oil (TSE:TOU - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported C$1.69 EPS for the quarter. The firm had revenue of C$1.78 billion for the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%. Research analysts forecast that Tourmaline Oil will post 5.6809091 EPS for the current year.

Insider Buying and Selling at Tourmaline Oil

In other Tourmaline Oil news, insider James William Alexander Heard acquired 1,000 shares of Tourmaline Oil stock in a transaction dated Thursday, June 18th. The stock was bought at an average cost of C$58.88 per share, with a total value of C$58,880.00. Following the acquisition, the insider owned 67,476 shares of the company's stock, valued at approximately C$3,972,986.88. The trade was a 1.50% increase in their ownership of the stock. Also, insider Earl Henry Mckinnon sold 4,700 shares of Tourmaline Oil stock in a transaction dated Friday, July 3rd. The shares were sold at an average price of C$60.35, for a total transaction of C$283,645.00. Following the sale, the insider owned 132,280 shares in the company, valued at approximately C$7,983,098. This trade represents a 3.43% decrease in their ownership of the stock. Over the last quarter, insiders bought 39,266 shares of company stock worth $2,463,574. Corporate insiders own 5.13% of the company's stock.

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.

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