Tourmaline Oil (TSE:TOU – Get Free Report) had its price target reduced by equities research analysts at BMO Capital Markets from C$78.00 to C$75.00 in a report released on Thursday, BayStreet.CA reports. BMO Capital Markets’ price target would indicate a potential upside of 18.05% from the stock’s current price.
A number of other brokerages have also recently issued reports on TOU. Desjardins dropped their price target on shares of Tourmaline Oil from C$76.00 to C$75.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. ATB Capital reduced their price target on shares of Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating for the company in a research report on Wednesday, March 20th. Jefferies Financial Group set a C$70.00 price objective on Tourmaline Oil and gave the company a “buy” rating in a research report on Tuesday, February 27th. Scotiabank reduced their target price on Tourmaline Oil from C$100.00 to C$90.00 and set an “outperform” rating for the company in a report on Tuesday, January 16th. Finally, TD Securities dropped their price objective on Tourmaline Oil from C$75.00 to C$72.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$77.42.
Check Out Our Latest Stock Report on TOU
Tourmaline Oil Stock Up 2.0 %
Insiders Place Their Bets
In related news, Senior Officer Mike Rose acquired 2,500 shares of Tourmaline Oil stock in a transaction dated Friday, March 22nd. The stock was purchased at an average cost of C$59.42 per share, for a total transaction of C$148,543.00. In other Tourmaline Oil news, Director Janet Weiss bought 650 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was purchased at an average price of C$43.66 per share, for a total transaction of C$28,376.40. Also, Senior Officer Mike Rose purchased 2,500 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was acquired at an average cost of C$59.42 per share, for a total transaction of C$148,543.00. Over the last ninety days, insiders have acquired 20,180 shares of company stock worth $1,171,702. Company insiders own 5.19% of the company’s stock.
Tourmaline Oil Company Profile
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.
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