Macquarie Reaffirms “Outperform” Rating for Tourmaline Oil Corp (TOU)
Tourmaline Oil Corp (TSE:TOU)‘s stock had its “outperform” rating reiterated by stock analysts at Macquarie in a research note issued on Thursday. They presently have a C$40.00 price target on the stock. Macquarie’s price objective indicates a potential upside of 59.36% from the company’s previous close.
A number of other analysts have also recently commented on TOU. National Bank Financial cut their target price on shares of Tourmaline Oil Corp from C$42.00 to C$40.00 in a research note on Friday, June 23rd. BMO Capital Markets reissued an “outperform” rating and set a C$36.00 target price on shares of Tourmaline Oil Corp in a research note on Tuesday, May 30th. Raymond James Financial, Inc. boosted their target price on shares of Tourmaline Oil Corp from C$33.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Finally, Royal Bank Of Canada cut their target price on shares of Tourmaline Oil Corp from C$40.00 to C$35.00 in a research note on Thursday, July 20th. Six research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of C$41.20.
Shares of Tourmaline Oil Corp (TSE:TOU) traded up 1.09% on Thursday, reaching $25.10. 470,882 shares of the company traded hands. The stock has a market capitalization of $6.77 billion and a price-to-earnings ratio of 22.06. The company has a 50-day moving average of $25.10 and a 200-day moving average of $27.19. Tourmaline Oil Corp has a 1-year low of $23.37 and a 1-year high of $39.77.
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In other Tourmaline Oil Corp news, insider Brian Robinson sold 100,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of C$24.20, for a total value of C$2,420,000.00. Also, insider Mike Rose bought 2,500 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was purchased at an average price of C$23.43 per share, for a total transaction of C$58,575.00. Over the last 90 days, insiders have purchased 14,000 shares of company stock worth $342,510 and have sold 582,627 shares worth $14,851,712.
Tourmaline Oil Corp Company Profile
Tourmaline Oil Corp. is a Canada-based intermediate crude oil and natural gas exploration and production company. The Company is engaged in the acquisition, exploration, development and production of petroleum and natural gas properties. The Company is focused on exploration and acquisition program in the Western Canadian Sedimentary Basin.
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