Tourmaline Oil (TSE:TOU) Given New C$77.00 Price Target at ATB Capital

Key Points

• ATB Capital has raised its price target for Tourmaline Oil from C$76.00 to C$77.00, indicating a potential upside of 30.69% from the current stock price, while maintaining an "outperform" rating.
• The stock is currently trading down 6.4%, at C$58.92, with notable fluctuations reflecting a market capitalization of C$21.96 billion and a price-to-earnings ratio of 13.30.
• Insider activity includes Senior Officer William Scott Kirker selling 56,000 shares valued at C$3.6 million, while another officer, Mike Rose, purchased 5,000 shares, indicating mixed insider sentiment.

Tourmaline Oil (TSE:TOU - Get Free Report) had its target price increased by equities research analysts at ATB Capital from C$76.00 to C$77.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. ATB Capital's target price would suggest a potential upside of 30.69% from the stock's current price.

TOU has been the subject of a number of other reports. UBS Group reduced their price objective on shares of Tourmaline Oil from C$74.00 to C$71.00 in a research note on Thursday, April 17th. Desjardins upped their price target on shares of 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 decreased their price objective on shares of 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. CIBC cut their target price on shares of Tourmaline Oil from C$75.00 to C$74.00 and set an "outperform" rating on the stock in a research note on Thursday. Finally, Raymond James Financial cut Tourmaline Oil from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from C$76.00 to C$74.00 in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Tourmaline Oil has an average rating of "Moderate Buy" and a consensus price target of C$76.50.

Tourmaline Oil Trading Down 6.4%

Shares of TSE TOU traded down C$4.01 during mid-day trading on Thursday, hitting C$58.92. 4,072,020 shares of the company traded hands, compared to its average volume of 2,133,175. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. Tourmaline Oil has a 1 year low of C$55.27 and a 1 year high of C$70.83. The stock has a market capitalization of C$21.96 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 1.72 and a beta of 1.30. The business has a 50 day moving average of C$63.77 and a two-hundred day moving average of C$64.74.

Insider Buying and Selling

In other news, Senior Officer William Scott Kirker sold 56,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of C$64.94, for a total transaction of C$3,636,561.60. Also, Senior Officer Mike Rose acquired 5,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The stock was acquired at an average price of C$62.92 per share, with a total value of C$314,601.00. Insiders acquired 40,000 shares of company stock valued at $2,547,532 over the last quarter. Corporate insiders own 5.13% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.