Jefferies Financial Group Has Lowered Expectations for Tourmaline Oil (TSE:TOU) Stock Price

Tourmaline Oil (TSE:TOU) had its price objective dropped by Jefferies Financial Group from C$72.00 to C$70.00 in a research note issued on Tuesday,BayStreet.CA reports. Jefferies Financial Group’s price target would indicate a potential upside of 13.21% from the company’s current price.

Other analysts have also issued reports about the stock. Scotiabank cut their price target on shares of Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Raymond James Financial dropped their price objective on shares of Tourmaline Oil from C$74.00 to C$72.00 in a report on Thursday, November 6th. CIBC reduced their target price on shares of Tourmaline Oil from C$71.00 to C$66.00 in a report on Tuesday, January 13th. Capital One Financial raised shares of Tourmaline Oil to a “strong-buy” rating in a research report on Monday, October 27th. Finally, TD Securities lowered Tourmaline Oil from a “buy” rating to a “hold” rating and cut their price objective for the stock from C$73.00 to C$68.00 in a research report on Tuesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Tourmaline Oil currently has an average rating of “Buy” and an average price target of C$71.33.

Tourmaline Oil Stock Up 3.0%

Shares of TSE TOU opened at C$61.83 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. The business’s 50 day moving average is C$61.46 and its two-hundred day moving average is C$60.68. Tourmaline Oil has a 52-week low of C$55.40 and a 52-week high of C$70.83. The firm has a market cap of C$23.93 billion, a price-to-earnings ratio of 17.67, a PEG ratio of 1.72 and a beta of -0.03.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, November 5th. The company reported C$0.49 EPS for the quarter. The business had revenue of C$1.40 billion during the quarter. Tourmaline Oil had a return on equity of 11.08% and a net margin of 28.53%. Research analysts predict that Tourmaline Oil will post 5.6809091 EPS for the current year.

Insiders Place Their Bets

In other Tourmaline Oil news, insider Mike Rose purchased 2,500 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was bought at an average cost of C$58.72 per share, with a total value of C$146,800.00. Following the acquisition, the insider directly owned 8,032,678 shares of the company’s stock, valued at approximately C$471,678,852.16. This represents a 0.03% increase in their ownership of the stock. 5.13% of the stock is currently owned by corporate insiders.

About Tourmaline Oil

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.