Jefferies Financial Group Raises Tourmaline Oil (TSE:TOU) Price Target to C$74.00

Tourmaline Oil (TSE:TOU) had its price target upped by investment analysts at Jefferies Financial Group from C$72.00 to C$74.00 in a note issued to investors on Friday,BayStreet.CA reports. Jefferies Financial Group’s price objective suggests a potential upside of 13.57% from the company’s previous close.

Several other brokerages have also commented on TOU. TD lifted their price objective on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a “hold” rating in a research report on Wednesday. BMO Capital Markets downgraded shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and increased their target price for the company from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Canaccord Genuity Group lowered shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price target for the company. in a research note on Thursday, May 7th. Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a report on Friday, June 26th. Finally, Desjardins set a C$68.00 price objective on Tourmaline Oil and gave the company a “hold” rating in a research note on Friday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$70.36.

Tourmaline Oil Stock Performance

Shares of Tourmaline Oil stock opened at C$65.16 on Friday. The business’s fifty day simple moving average is C$62.69 and its 200 day simple moving average is C$63.05. The company has a current ratio of 0.88, a quick ratio of 0.47 and a debt-to-equity ratio of 7.14. Tourmaline Oil has a 12 month low of C$56.72 and a 12 month high of C$70.57. The firm has a market capitalization of C$25.30 billion, a P/E ratio of 36.00, a price-to-earnings-growth ratio of 1.72 and a beta of -0.27.

Tourmaline Oil (TSE:TOU) last released its earnings results on Wednesday, May 6th. The company reported C$1.69 EPS for the quarter. The company had revenue of C$1.78 billion for the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%. As a group, analysts anticipate that Tourmaline Oil will post 5.6809091 EPS for the current year.

Insider Buying and Selling

In related news, insider Mike Rose acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were bought at an average cost of C$59.84 per share, for a total transaction of C$149,600.00. Following the purchase, the insider owned 8,115,178 shares in the company, valued at C$485,612,251.52. This trade represents a 0.03% increase in their position. Also, Director Jill Terilee Angevine acquired 766 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were bought at an average cost of C$59.00 per share, for a total transaction of C$45,194.00. Following the acquisition, the director directly owned 71,766 shares in the company, valued at C$4,234,194. This represents a 1.08% increase in their position. In the last ninety days, insiders have bought 39,266 shares of company stock worth $2,463,574. Insiders own 5.13% of the company’s stock.

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.