CIBC Lowers Tourmaline Oil (TSE:TOU) Price Target to C$75.00

Tourmaline Oil (TSE:TOU - Get Free Report) had its price objective dropped by research analysts at CIBC from C$77.50 to C$75.00 in a research report issued on Friday,BayStreet.CA reports. CIBC's price target would indicate a potential upside of 19.77% from the company's previous close.

TOU has been the subject of several other research reports. Desjardins lifted their price objective on Tourmaline Oil from C$74.00 to C$76.00 and gave the company a "hold" rating in a research note on Tuesday, April 15th. UBS Group decreased their target price on Tourmaline Oil from C$74.00 to C$71.00 in a research note on Thursday, April 17th. Raymond James Financial set a C$78.00 target price on Tourmaline Oil and gave the stock an "outperform" rating in a research note on Tuesday, April 8th. Finally, TD Securities decreased their target price on 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. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of C$77.00.

Tourmaline Oil Trading Up 0.6%

Tourmaline Oil stock traded up C$0.35 during midday trading on Friday, reaching C$62.62. 735,196 shares of the stock traded hands, compared to its average volume of 2,186,216. The company has a 50-day simple moving average of C$64.16 and a two-hundred day simple moving average of C$65.21. Tourmaline Oil has a 12-month low of C$55.27 and a 12-month high of C$70.83. The firm has a market cap of C$23.34 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. 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 at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer William Scott Kirker sold 56,000 shares of Tourmaline Oil stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of C$64.94, for a total transaction of C$3,636,561.60. Also, Senior Officer Mike Rose purchased 5,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of C$62.98 per share, for a total transaction of C$314,917.00. In the last ninety days, insiders have acquired 40,000 shares of company stock worth $2,547,532. 5.13% of the stock is currently owned by corporate insiders.

About Tourmaline Oil

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.