Jefferies Financial Group Forecasts Strong Price Appreciation for Tourmaline Oil (TSE:TOU) Stock

Tourmaline Oil (TSE:TOU) had its price target lifted by research analysts at Jefferies Financial Group from C$73.00 to C$76.00 in a research report issued on Monday,BayStreet.CA reports. Jefferies Financial Group’s price objective would indicate a potential upside of 23.54% from the stock’s previous close.

Several other research analysts also recently commented on the stock. TD Securities dropped their target price on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Canaccord Genuity Group dropped their price objective on shares of Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. UBS Group boosted their price objective on shares of Tourmaline Oil from C$70.00 to C$73.00 in a report on Monday, December 9th. Cormark upgraded shares of Tourmaline Oil to a “hold” rating in a report on Monday, September 23rd. Finally, National Bankshares set a C$72.50 price objective on shares of Tourmaline Oil and gave the stock a “buy” rating in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$78.21.

Tourmaline Oil Stock Down 0.7 %

Tourmaline Oil stock opened at C$61.52 on Monday. The company has a market capitalization of C$22.84 billion, a P/E ratio of 14.58, 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 current ratio of 1.11, a quick ratio of 0.47 and a debt-to-equity ratio of 10.24. The firm’s fifty day simple moving average is C$64.18 and its 200-day simple moving average is C$62.63.

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

Insider Activity

In other news, Senior Officer Mike Rose purchased 2,500 shares of Tourmaline Oil stock in a transaction on Friday, September 20th. The shares were purchased at an average cost of C$58.40 per share, for a total transaction of C$146,004.50. Also, Senior Officer William Scott Kirker sold 66,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of C$66.37, for a total transaction of C$4,380,274.80. In the last three months, insiders have acquired 17,500 shares of company stock worth $1,081,948. Corporate insiders own 5.13% of the company’s stock.

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.