Tourmaline Oil (TSE:TOU) Given New C$72.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered its price target on Tourmaline Oil to C$72.00 from C$76.00 but maintained an "outperform" rating, implying a potential upside of about 13.05% from the current share price.
• Analysts collectively maintain a consensus Buy with an average target of C$70.78 after several recent target adjustments, while shares traded at C$63.69 on Friday (market cap ~C$24.65B, P/E 18.2).
• Insider Mike Rose purchased 10,000 shares at C$62.21 on Feb. 2, and corporate insiders now own roughly 5.13% of the company.

Tourmaline Oil (TSE:TOU - Get Free Report) had its price target decreased by equities research analysts at Royal Bank Of Canada from C$76.00 to C$72.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price points to a potential upside of 13.05% from the company's current price.

Other equities analysts have also recently issued research reports about the stock. Scotiabank cut their target price on shares of Tourmaline Oil from C$80.00 to C$75.00 and set an "outperform" rating for the company in a research report on Wednesday, January 21st. Canadian Imperial Bank of Commerce reduced their target price on Tourmaline Oil from C$71.00 to C$66.00 in a research note on Tuesday, January 13th. Jefferies Financial Group dropped their price target on Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th. Raymond James Financial upped their price objective on Tourmaline Oil from C$69.00 to C$72.00 in a research report on Thursday. Finally, ATB Cormark Capital Markets dropped their price objective on Tourmaline Oil from C$74.00 to C$73.00 and set an "outperform" rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of C$70.78.

Tourmaline Oil Price Performance

Shares of TSE:TOU traded up C$1.80 during trading on Friday, hitting C$63.69. 3,982,767 shares of the stock were exchanged, compared to its average volume of 2,316,453. The company has a market cap of C$24.65 billion, a PE ratio of 18.20, a P/E/G ratio of 1.72 and a beta of 0.00. The company has a current ratio of 0.48, a quick ratio of 0.47 and a debt-to-equity ratio of 10.85. The company has a fifty day moving average price of C$61.69 and a two-hundred day moving average price of C$61.16. Tourmaline Oil has a 12-month low of C$55.40 and a 12-month high of C$70.73.

Tourmaline Oil (TSE:TOU - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The company reported C($1.72) earnings per share (EPS) for the quarter. The firm had revenue of C$1.66 billion for the quarter. Tourmaline Oil had a return on equity of 8.30% and a net margin of 27.57%. On average, analysts forecast that Tourmaline Oil will post 5.6809091 EPS for the current year.

Insider Activity

In related news, insider Mike Rose bought 10,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was purchased at an average cost of C$62.21 per share, for a total transaction of C$622,100.00. Following the completion of the acquisition, the insider owned 8,042,678 shares in the company, valued at C$500,334,998.38. This trade represents a 0.12% increase in their ownership of the stock. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.