National Bankshares Forecasts Strong Price Appreciation for Tourmaline Oil (TSE:TOU) Stock

Tourmaline Oil (TSE:TOU) had its target price raised by research analysts at National Bankshares from C$72.50 to C$75.00 in a research note issued on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ price target indicates a potential upside of 22.45% from the company’s current price.

TOU has been the topic of a number of other research reports. UBS Group increased their target price on Tourmaline Oil from C$70.00 to C$73.00 in a report on Monday, December 9th. Jefferies Financial Group raised their price objective on Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th. TD Securities lowered their target price on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Canaccord Genuity Group reduced their price target on shares of Tourmaline Oil from C$75.00 to C$74.00 in a research report on Tuesday, October 22nd. Finally, Cormark upgraded shares of Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$78.42.

Tourmaline Oil Stock Up 0.9 %

Shares of Tourmaline Oil stock opened at C$61.25 on Thursday. The company has a market capitalization of C$22.74 billion, a PE ratio of 14.51, a P/E/G ratio of 1.72 and a beta of 1.30. Tourmaline Oil has a 1-year low of C$53.45 and a 1-year high of C$69.25. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.11 and a quick ratio of 0.47. The business has a 50-day moving average of C$63.93 and a 200-day moving average of C$62.57.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, November 6th. The company reported C$1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.26 by C($0.26). Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. The company had revenue of C$1.47 billion during the quarter, compared to the consensus estimate of C$1.63 billion. As a group, equities analysts forecast that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Insider Transactions at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer William Scott Kirker sold 66,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of C$66.37, for a total value of C$4,380,274.80. Also, Senior Officer Mike Rose purchased 2,500 shares of the business’s stock in a transaction on Monday, December 16th. The stock was acquired at an average cost of C$62.09 per share, with a total value of C$155,216.50. Over the last quarter, insiders acquired 15,000 shares of company stock valued at $935,943. 5.13% of the stock is currently owned by corporate insiders.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.