Tourmaline Oil (TSE:TOU) Given New C$75.00 Price Target at Royal Bank Of Canada

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 price objective cut by Royal Bank Of Canada from C$78.00 to C$75.00 in a report issued on Friday,BayStreet.CA reports. Royal Bank Of Canada's target price suggests a potential upside of 30.03% from the stock's previous close.

A number of other research firms have also weighed in on TOU. Desjardins upped their target price on shares of Tourmaline Oil from C$74.00 to C$76.00 and gave the stock a "hold" rating in a report on Tuesday, April 15th. CIBC cut their price target on shares of Tourmaline Oil from C$75.00 to C$74.00 and set an "outperform" rating on the stock in a report on Thursday, July 31st. ATB Capital upped their price target on shares of Tourmaline Oil from C$76.00 to C$77.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Raymond James Financial cut shares of Tourmaline Oil from a "moderate buy" rating to a "hold" rating and dropped their price target for the company from C$76.00 to C$74.00 in a research note on Thursday, July 31st. Finally, TD Securities dropped their price target on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$76.18.

Tourmaline Oil Stock Up 0.1%

TSE:TOU traded up C$0.07 during trading hours on Friday, reaching C$57.68. The company had a trading volume of 10,365,250 shares, compared to its average volume of 2,238,338. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. The business's 50-day simple moving average is C$63.42 and its two-hundred day simple moving average is C$64.50. The firm has a market cap of C$21.49 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 1.72 and a beta of 1.30. Tourmaline Oil has a twelve month low of C$55.27 and a twelve month high of C$70.83.

Insiders Place Their Bets

In other news, Senior Officer Mike Rose purchased 5,000 shares of the business's stock in a transaction on Monday, July 7th. The shares were acquired at an average price of C$62.92 per share, with a total value of C$314,601.00. Also, Senior Officer William Scott Kirker sold 56,000 shares of the firm's stock in a transaction dated 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. In the last three months, insiders acquired 40,000 shares of company stock worth $2,547,532. Insiders own 5.13% of the company's stock.

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.