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

Tourmaline Oil (TSE:TOU) had its price objective hoisted by investment analysts at UBS Group from C$70.00 to C$73.00 in a report released on Monday,BayStreet.CA reports. UBS Group’s target price would suggest a potential upside of 16.06% from the company’s previous close.

TOU has been the topic of a number of other reports. Desjardins boosted their price target on Tourmaline Oil from C$72.00 to C$75.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. TD Securities lowered their price target on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Cormark raised Tourmaline Oil to a “hold” rating in a research report on Monday, September 23rd. National Bankshares set a C$72.50 target price on Tourmaline Oil and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, Scotiabank upped their target price on Tourmaline Oil from C$90.00 to C$93.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$77.96.

Tourmaline Oil Price Performance

TSE:TOU traded up C$0.59 on Monday, reaching C$62.90. The stock had a trading volume of 330,914 shares, compared to its average volume of 2,410,803. The company has a market capitalization of C$23.35 billion, a P/E ratio of 14.89, a price-to-earnings-growth 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 quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24. The stock has a fifty day moving average price of C$64.13 and a 200-day moving average price of C$62.82.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, November 6th. The company reported C$1.00 earnings per share for the quarter, missing the consensus estimate of C$1.26 by C($0.26). The business had revenue of C$1.47 billion for 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%. Research analysts forecast that Tourmaline Oil will post 5.6809091 EPS for the current year.

Insider Activity

In other news, Senior Officer Mike Rose purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was bought at an average cost of C$57.07 per share, for a total transaction of C$285,369.00. Also, Senior Officer William Scott Kirker sold 66,000 shares of the stock in a transaction on 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. In the last ninety days, insiders bought 17,500 shares of company stock worth $1,054,848. 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.