Tourmaline Oil (TSE:TOU) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Key Points

• Raymond James raised its target on Tourmaline to C$72 (from C$69), implying about a 15.9% upside
• Shares fell to C$62.10 on heavy volume (4.28M vs. avg. 2.23M), trading below analyst targets; the company has a market cap of C$24.03B and a P/E of 17.74.
• Insider purchase: Mike Rose bought 10,000 shares at C$62.21, and corporate insiders now own about 5.13% of the company.

Tourmaline Oil (TSE:TOU - Get Free Report) had its target price raised by equities research analysts at Raymond James Financial from C$69.00 to C$72.00 in a research note issued to investors on Thursday,BayStreet.CA reports. Raymond James Financial's target price would suggest a potential upside of 15.94% from the company's previous close.

Several other analysts also recently issued reports on the company. Jefferies Financial Group cut their price target on Tourmaline Oil from C$72.00 to C$70.00 in a report on Tuesday, January 20th. Scotiabank dropped their target price on Tourmaline Oil from C$80.00 to C$75.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 21st. Desjardins boosted their price target on shares of Tourmaline Oil from C$68.00 to C$70.00 and gave the company a "buy" rating in a report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce lowered their price target on shares of Tourmaline Oil from C$71.00 to C$66.00 in a research report on Tuesday, January 13th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of C$71.56.

Tourmaline Oil Stock Performance

Shares of TSE:TOU traded down C$4.04 on Thursday, reaching C$62.10. 4,283,943 shares of the company's stock were exchanged, compared to its average volume of 2,233,314. The business's 50-day moving average is C$61.67 and its two-hundred day moving average is C$61.16. The company has a quick ratio of 0.47, a current ratio of 0.48 and a debt-to-equity ratio of 10.85. Tourmaline Oil has a fifty-two week low of C$55.40 and a fifty-two week high of C$70.73. The firm has a market capitalization of C$24.03 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 1.72 and a beta of 0.12.

Tourmaline Oil (TSE:TOU - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The company reported C($1.72) earnings per share for the quarter. Tourmaline Oil had a net margin of 27.57% and a return on equity of 8.30%. The business had revenue of C$1.66 billion for the quarter. As a group, equities research analysts forecast that Tourmaline Oil will post 5.6809091 EPS for the current year.

Insider Activity

In other news, insider Mike Rose acquired 10,000 shares of Tourmaline Oil stock in a transaction on Monday, February 2nd. The stock was bought at an average cost of C$62.21 per share, with a total value of C$622,100.00. Following the completion of the purchase, the insider owned 8,042,678 shares of the company's stock, valued at C$500,334,998.38. This represents a 0.12% increase in their ownership of the stock. Corporate insiders own 5.13% of the company's stock.

Tourmaline Oil Company Profile

Tourmaline is Canada's largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.

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