Tourmaline Oil (TSE:TOU) Price Target Cut to C$75.00 by Analysts at CIBC

Tourmaline Oil (TSE:TOU - Get Free Report) had its price objective dropped by analysts at CIBC from C$77.50 to C$75.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. CIBC's price objective would indicate a potential upside of 20.62% from the company's current price.

Several other brokerages have also recently weighed in on TOU. Desjardins upped their price target on Tourmaline Oil from C$74.00 to C$76.00 and gave the stock a "hold" rating in a research note on Tuesday, April 15th. UBS Group reduced their price objective on Tourmaline Oil from C$74.00 to C$71.00 in a report on Thursday, April 17th. TD Securities reduced their price objective 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. Finally, Raymond James Financial set a C$78.00 target price on Tourmaline Oil and gave the company an "outperform" rating in a report on Tuesday, April 8th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Tourmaline Oil currently has a consensus rating of "Moderate Buy" and an average price target of C$77.00.

Tourmaline Oil Trading Down 0.9%

Tourmaline Oil stock traded down C$0.59 during trading hours on Friday, reaching C$62.18. The company had a trading volume of 444,197 shares, compared to its average volume of 2,191,591. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. 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$23.17 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 1.72 and a beta of 1.30. The company has a 50-day moving average price of C$64.14 and a 200 day moving average price of C$65.20.

Insider Buying and Selling at Tourmaline Oil

In related news, Senior Officer William Scott Kirker sold 56,000 shares of the business's stock in a transaction 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 bought 5,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average price of C$62.98 per share, for a total transaction of C$314,917.00. Over the last 90 days, insiders have purchased 40,000 shares of company stock worth $2,547,532. 5.13% of the stock is owned by company 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.

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