Tourmaline Oil (TSE:TOU) had its price objective decreased by investment analysts at National Bank Financial from C$23.50 to C$22.00 in a research note issued on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price objective indicates a potential upside of 72.01% from the company’s previous close.

A number of other brokerages have also recently weighed in on TOU. Canaccord Genuity restated a “buy” rating and issued a C$17.00 price objective on shares of Tourmaline Oil in a research note on Wednesday, October 16th. TD Securities dropped their target price on shares of Tourmaline Oil from C$27.00 to C$25.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. CIBC dropped their target price on shares of Tourmaline Oil from C$25.00 to C$20.00 in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada dropped their target price on shares of Tourmaline Oil from C$24.00 to C$18.00 in a research report on Friday, October 18th. Five investment analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of C$20.53.

Shares of Tourmaline Oil stock traded up C$0.15 on Thursday, reaching C$12.79. The stock had a trading volume of 2,105,400 shares, compared to its average volume of 870,999. The business’s 50-day moving average price is C$12.22 and its two-hundred day moving average price is C$15.35. The company has a debt-to-equity ratio of 20.25, a quick ratio of 0.46 and a current ratio of 0.57. Tourmaline Oil has a fifty-two week low of C$10.45 and a fifty-two week high of C$22.62. The stock has a market cap of $3.35 billion and a P/E ratio of 7.12.

In other Tourmaline Oil news, Director Andrew B. Macdonald purchased 3,500 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average price of C$13.60 per share, with a total value of C$47,600.00. Following the acquisition, the director now directly owns 75,500 shares of the company’s stock, valued at approximately C$1,026,800. Also, Senior Officer Mike Rose purchased 2,500 shares of the stock in a transaction on Monday, October 28th. The stock was acquired at an average cost of C$11.51 per share, for a total transaction of C$28,775.00. Following the acquisition, the insider now directly owns 10,549,330 shares in the company, valued at C$121,422,788.30. Insiders have purchased 31,000 shares of company stock worth $387,451 in 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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Analyst Recommendations for Tourmaline Oil (TSE:TOU)

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