Tourmaline Oil (TSE:TOU) Price Target Raised to C$77.00 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 price target boosted by 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 points to a potential upside of 33.66% from the company's current price.

TOU has been the subject of a number of other reports. TD Securities cut their price target on Tourmaline Oil from C$77.00 to C$75.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Desjardins boosted their price target on Tourmaline Oil from C$74.00 to C$76.00 and gave the stock a "hold" rating in a report on Tuesday, April 15th. Raymond James Financial lowered Tourmaline Oil from an "outperform" rating to a "market perform" rating and dropped their target price for the company from C$76.00 to C$74.00 in a research note on Thursday. CIBC decreased their price target on 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, UBS Group decreased their price target on Tourmaline Oil from C$74.00 to C$71.00 in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of C$76.18.

Tourmaline Oil Price Performance

Shares of TSE TOU traded down C$1.36 during trading on Thursday, reaching C$57.61. The company had a trading volume of 8,222,042 shares, compared to its average volume of 2,184,125. Tourmaline Oil has a twelve month low of C$55.27 and a twelve month high of C$70.83. The stock has a market capitalization of C$21.47 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The stock has a 50-day moving average price of C$63.55 and a two-hundred day moving average price of C$64.57. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13.

Insider Activity

In other news, Senior Officer Mike Rose purchased 5,000 shares of the company's stock in a transaction on Monday, July 7th. The stock was bought at an average cost of C$62.92 per share, for a total transaction of C$314,601.00. Also, Senior Officer William Scott Kirker sold 56,000 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of C$64.94, for a total value of C$3,636,561.60. Insiders have acquired 40,000 shares of company stock valued at $2,547,532 over the last 90 days. 5.13% of the stock is currently owned by 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.