Tourmaline Oil (TSE:TOU) Given a C$68.00 Price Target by Desjardins Analysts

Key Points

• Desjardins initiated coverage on Tourmaline Oil with a C$68.00 price target and a hold rating, implying about 9.5% upside from the current share price.
• Analyst views remain mixed: recent ratings include a BMO downgrade to market perform, a Scotiabank upgrade to strong-buy, and a Canaccord downgrade to hold. Overall, the stock carries a Moderate Buy consensus with an average target of C$70.40.
• Tourmaline Oil shares were down 0.5% to C$62.10 on Friday, while the company reported C$1.69 EPS and C$1.78 billion in quarterly revenue in its latest earnings release.

Tourmaline Oil (TSE:TOU - Get Free Report) has been given a C$68.00 price target by research analysts at Desjardins in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. Desjardins' target price would suggest a potential upside of 9.50% from the company's current price.

TOU has been the subject of several other research reports. BMO Capital Markets cut shares of Tourmaline Oil from an "outperform" rating to a "market perform" rating and upped their target price for the company from C$67.00 to C$70.00 in a report on Thursday, May 7th. Scotiabank raised shares of Tourmaline Oil to a "strong-buy" rating in a research report on Friday, June 26th. Finally, Canaccord Genuity Group downgraded shares of Tourmaline Oil from a "buy" rating to a "hold" rating and set a C$70.00 price objective for the company. in a research note on Thursday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$70.40.

Tourmaline Oil Stock Down 0.5%

Shares of TOU stock traded down C$0.29 on Friday, reaching C$62.10. 568,087 shares of the stock were exchanged, compared to its average volume of 2,842,960. The company has a market capitalization of C$24.11 billion, a price-to-earnings ratio of 34.31, a PEG ratio of 1.72 and a beta of -0.27. The business's 50 day moving average price is C$62.95 and its 200 day moving average price is C$62.96. The company has a current ratio of 0.88, a quick ratio of 0.47 and a debt-to-equity ratio of 7.14. Tourmaline Oil has a twelve month low of C$56.72 and a twelve month high of C$70.57.

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

Insider Buying and Selling at Tourmaline Oil

In other Tourmaline Oil news, insider Mike Rose bought 2,500 shares of the firm's stock in a transaction dated Friday, June 26th. The stock was acquired at an average price of C$59.84 per share, for a total transaction of C$149,600.00. Following the completion of the purchase, the insider owned 8,115,178 shares of the company's stock, valued at approximately C$485,612,251.52. This represents a 0.03% increase in their ownership of the stock. Also, insider James William Alexander Heard purchased 1,000 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were bought at an average cost of C$58.88 per share, for a total transaction 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. Insiders acquired a total of 44,266 shares of company stock valued at $2,760,824 over the last ninety days. 5.13% of the stock is currently owned by corporate 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.

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