Tourmaline Oil (TOU) Price Target Raised to C$30.00

Tourmaline Oil (TSE:TOU) had its price target raised by CIBC from C$27.50 to C$30.00 in a research report report published on Friday.

A number of other brokerages have also recently weighed in on TOU. BMO Capital Markets increased their target price on shares of Tourmaline Oil from C$22.00 to C$24.00 in a report on Wednesday, May 9th. GMP Securities set a C$30.50 target price on shares of Tourmaline Oil in a report on Wednesday, May 9th. Raymond James increased their target price on shares of Tourmaline Oil from C$28.00 to C$31.00 and gave the stock an outperform rating in a report on Monday, May 14th. Finally, Scotiabank dropped their target price on shares of Tourmaline Oil from C$32.00 to C$28.00 and set an outperform rating on the stock in a report on Thursday, February 15th. Six analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and an average price target of C$31.39.

Shares of TSE:TOU opened at C$25.71 on Friday. Tourmaline Oil has a 1-year low of C$17.78 and a 1-year high of C$28.74.

Tourmaline Oil (TSE:TOU) last issued its earnings results on Tuesday, March 6th. The company reported C$0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.11 by C$0.22. The company had revenue of C$431.27 million for the quarter. Tourmaline Oil had a net margin of 17.08% and a return on equity of 4.96%.

In other news, insider William Scott Kirker sold 50,000 shares of the company’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of C$25.19, for a total transaction of C$1,259,500.00. Also, insider Mike Rose purchased 5,000 shares of the stock in a transaction dated Friday, March 9th. The shares were purchased at an average price of C$19.89 per share, with a total value of C$99,450.00. Insiders have bought 27,740 shares of company stock valued at $577,339 in the last 90 days.

About Tourmaline Oil

Tourmaline Oil Corp., together with its subsidiaries, engages in the acquisition, exploration, development, and production of petroleum and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Peace River High, Alberta Deep Basin, and NEBC Montney areas.

Analyst Recommendations for Tourmaline Oil (TSE:TOU)

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