Tourmaline Oil Corp (TOU) Price Target Cut to C$30.00 by Analysts at CIBC
Tourmaline Oil Corp (TSE:TOU) had its price objective decreased by stock analysts at CIBC from C$33.00 to C$30.00 in a research report issued to clients and investors on Tuesday. CIBC’s target price would suggest a potential upside of 30.10% from the company’s previous close.
A number of other brokerages have also recently issued reports on TOU. Royal Bank Of Canada dropped their price objective on shares of Tourmaline Oil Corp from C$40.00 to C$35.00 in a research note on Thursday, July 20th. Raymond James Financial, Inc. increased their price objective on shares of Tourmaline Oil Corp from C$33.00 to C$36.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. National Bank Financial dropped their price objective on shares of Tourmaline Oil Corp from C$42.00 to C$40.00 in a research note on Friday, June 23rd. Macquarie restated an “outperform” rating and issued a C$40.00 price objective on shares of Tourmaline Oil Corp in a research note on Thursday, September 14th. Finally, BMO Capital Markets lowered their target price on shares of Tourmaline Oil Corp from C$34.00 to C$28.00 in a report on Tuesday, October 10th. Seven research analysts have rated the stock with a buy rating, Tourmaline Oil Corp has a consensus rating of “Buy” and an average price target of C$38.65.
Tourmaline Oil Corp (TOU) traded down 0.43% on Tuesday, reaching $22.96. 502,931 shares of the company’s stock were exchanged. The firm has a market capitalization of $6.19 billion and a price-to-earnings ratio of 20.18. The firm has a 50-day moving average of $24.76 and a 200-day moving average of $26.53. Tourmaline Oil Corp has a 12 month low of $22.33 and a 12 month high of $39.77.
ILLEGAL ACTIVITY WARNING: “Tourmaline Oil Corp (TOU) Price Target Cut to C$30.00 by Analysts at CIBC” was published by American Banking News and is the property of of American Banking News. If you are reading this news story on another publication, it was illegally copied and republished in violation of United States & international copyright law. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/10/17/tourmaline-oil-corp-tou-price-target-cut-to-c30-00-by-analysts-at-cibc.html.
In related news, insider Mike Rose acquired 2,000 shares of the firm’s stock in a transaction on Wednesday, October 4th. The shares were purchased at an average price of C$24.73 per share, with a total value of C$49,460.00. Also, Director John William Elick sold 4,116 shares of the stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of C$26.35, for a total transaction of C$108,456.60. In the last ninety days, insiders bought 24,000 shares of company stock worth $588,335 and sold 156,116 shares worth $3,784,677.
About Tourmaline Oil Corp
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.
Receive News & Ratings for Tourmaline Oil Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tourmaline Oil Corp and related companies with MarketBeat.com's FREE daily email newsletter.