Royal Bank Of Canada Has Lowered Expectations for Tourmaline Oil (TSE:TOU) Stock Price

Key Points

• Royal Bank of Canada has lowered its price target for Tourmaline Oil from C$78.00 to C$75.00, indicating a potential upside of 29.83% from the company's previous close.
• Several other analysts have also reduced their price targets, with CIBC setting theirs at C$74.00 and Raymond James Financial at C$74.00, while Desjardins raised theirs to C$76.00.
• Insider activity includes a purchase of 5,000 shares by Senior Officer Mike Rose and the sale of 56,000 shares by Senior Officer William Scott Kirker, highlighting ongoing investment movements among the company's leadership.

Tourmaline Oil (TSE:TOU - Get Free Report) had its target price lowered by stock analysts at Royal Bank Of Canada from C$78.00 to C$75.00 in a research report issued on Friday,BayStreet.CA reports. Royal Bank Of Canada's price target suggests a potential upside of 30.19% from the company's previous close.

Several other brokerages have also weighed in on TOU. ATB Capital increased their price objective on shares of Tourmaline Oil from C$76.00 to C$77.00 and gave the company an "outperform" rating in a report on Thursday. CIBC lowered their target price on shares of Tourmaline Oil from C$75.00 to C$74.00 and set an "outperform" rating for the company in a research note on Thursday. Desjardins upped their target price on shares of 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. TD Securities lowered their target price 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. Finally, UBS Group lowered their target price on shares of Tourmaline Oil from C$74.00 to C$71.00 in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Tourmaline Oil currently has a consensus rating of "Moderate Buy" and a consensus target price of C$76.18.

Tourmaline Oil Trading Down 2.3%

TSE TOU traded down C$1.36 during trading hours on Friday, hitting C$57.61. The company's stock had a trading volume of 8,222,042 shares, compared to its average volume of 2,184,125. The stock has a fifty day moving average of C$63.55 and a 200 day moving average of C$64.57. Tourmaline Oil has a twelve month low of C$55.27 and a twelve month high of C$70.83. The firm has a market capitalization of C$21.47 billion, a P/E ratio of 13.01, a PEG ratio of 1.72 and a beta of 1.30. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13.

Insiders Place Their Bets

In other news, Senior Officer William Scott Kirker sold 56,000 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of C$64.94, for a total value of C$3,636,561.60. Also, Senior Officer Mike Rose acquired 5,000 shares of the stock in a transaction on Monday, July 7th. The shares were acquired at an average price of C$62.92 per share, for a total transaction of C$314,601.00. Over the last ninety days, insiders bought 40,000 shares of company stock worth $2,547,532. 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.