Tourmaline Oil (TSE:TOU)‘s stock had its “outperform” rating restated by stock analysts at Raymond James in a report issued on Thursday, BayStreet.CA reports. They currently have a C$16.00 price objective on the stock. Raymond James’ target price points to a potential upside of 25.10% from the stock’s previous close.
Other research analysts have also recently issued research reports about the company. Royal Bank of Canada decreased their target price on Tourmaline Oil from C$24.00 to C$18.00 in a research report on Friday, October 18th. CIBC decreased their target price on Tourmaline Oil from C$25.00 to C$20.00 in a research report on Tuesday, October 15th. National Bank Financial decreased their target price on Tourmaline Oil from C$23.50 to C$22.00 and set an “outperform” rating on the stock in a research report on Thursday. Canaccord Genuity reiterated a “buy” rating and issued a C$17.00 target price on shares of Tourmaline Oil in a research report on Wednesday, October 16th. Finally, TD Securities decreased their target price on Tourmaline Oil from C$27.00 to C$25.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. Five research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of C$20.53.
Shares of TSE TOU traded up C$0.15 during mid-day trading on Thursday, reaching C$12.79. The company had a trading volume of 2,105,400 shares, compared to its average volume of 870,999. Tourmaline Oil has a one year low of C$10.45 and a one year high of C$22.62. The company has a debt-to-equity ratio of 20.25, a quick ratio of 0.46 and a current ratio of 0.57. The business’s 50-day simple moving average is C$12.22 and its 200 day simple moving average is C$15.35. The firm has a market cap of $3.35 billion and a price-to-earnings ratio of 7.12.
In other news, Director Andrew B. Macdonald purchased 3,500 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of C$13.60 per share, with a total value of C$47,600.00. Following the completion of the purchase, the director now owns 75,500 shares of the company’s stock, valued at approximately C$1,026,800. Also, Senior Officer Mike Rose purchased 2,500 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were purchased at an average cost of C$11.51 per share, for a total transaction of C$28,775.00. Following the completion of the purchase, the insider now directly owns 10,549,330 shares of the company’s stock, valued at approximately C$121,422,788.30. In the last quarter, insiders acquired 31,000 shares of company stock worth $387,451.
About Tourmaline Oil
Tourmaline Oil Corp., together with its subsidiaries, engages in the acquisition, exploration, development, and production of oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, NEBC Montney, and the Peace River High Triassic oil complex.
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