Tourmaline Oil (TSE:TOU) Price Target Lowered to C$21.00 at BMO Capital Markets

Tourmaline Oil (TSE:TOU) had its price objective reduced by equities research analysts at BMO Capital Markets from C$23.00 to C$21.00 in a report issued on Friday, BayStreet.CA reports. BMO Capital Markets’ price objective would suggest a potential upside of 35.31% from the stock’s previous close.

TOU has been the topic of several other reports. Raymond James upped their price target on shares of Tourmaline Oil from C$27.50 to C$29.00 and gave the company an “outperform” rating in a report on Monday, February 25th. TD Securities upped their price target on shares of Tourmaline Oil from C$31.00 to C$32.00 and gave the company a “buy” rating in a report on Thursday, May 9th.

Shares of TSE TOU traded down C$0.39 during trading on Friday, reaching C$15.52. 637,410 shares of the stock were exchanged, compared to its average volume of 747,911. Tourmaline Oil has a twelve month low of C$15.39 and a twelve month high of C$25.79. The company has a current ratio of 0.53, a quick ratio of 0.50 and a debt-to-equity ratio of 19.37. The stock has a market cap of $4.33 billion and a P/E ratio of 11.73.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, May 8th. The company reported C$0.32 EPS for the quarter. The firm had revenue of C$664.30 million for the quarter. On average, research analysts expect that Tourmaline Oil will post 1.3 EPS for the current fiscal year.

In related news, Senior Officer Mike Rose purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average cost of C$19.56 per share, with a total value of C$97,776.50. Following the completion of the acquisition, the insider now directly owns 10,523,470 shares of the company’s stock, valued at approximately C$205,789,612.89. Also, Director Lucille Miller purchased 1,467 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average cost of C$17.73 per share, for a total transaction of C$26,002.58. Following the completion of the acquisition, the director now directly owns 8,267 shares of the company’s stock, valued at C$146,532.58. Insiders purchased 16,467 shares of company stock worth $291,599 over the last ninety days.

Tourmaline Oil Company Profile

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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