Desjardins Upgrades Tourmaline Oil (TSE:TOU) to “Buy”

Tourmaline Oil (TSE:TOU) was upgraded by Desjardins from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage presently has a C$68.00 price target on the stock. Desjardins’ price target would suggest a potential upside of 8.94% from the company’s previous close.

Several other brokerages have also weighed in on TOU. Royal Bank Of Canada cut their price objective on Tourmaline Oil from C$78.00 to C$75.00 in a report on Friday, August 1st. Raymond James Financial dropped their price target on shares of Tourmaline Oil from C$74.00 to C$72.00 in a research report on Thursday, November 6th. Capital One Financial raised shares of Tourmaline Oil to a “strong-buy” rating in a report on Monday, October 27th. TD Securities cut shares of Tourmaline Oil from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$73.00 to C$68.00 in a research note on Tuesday, September 30th. Finally, The Goldman Sachs Group upgraded shares of Tourmaline Oil to a “strong-buy” rating in a report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$73.30.

Tourmaline Oil Stock Down 2.0%

TOU opened at C$62.42 on Monday. Tourmaline Oil has a 12 month low of C$55.40 and a 12 month high of C$70.83. The stock’s 50 day moving average price is C$61.29 and its 200 day moving average price is C$61.57. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. The stock has a market cap of C$24.16 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.72 and a beta of 0.29.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings data on Wednesday, November 5th. The company reported C$0.49 earnings per share (EPS) for the quarter. The business had revenue of C$1.30 billion during the quarter. Tourmaline Oil had a net margin of 28.53% and a return on equity of 11.08%. As a group, research analysts predict that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Insider Activity

In other news, insider Mike Rose purchased 10,000 shares of Tourmaline Oil stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average price of C$59.83 per share, for a total transaction of C$598,300.00. Following the transaction, the insider owned 8,197,742 shares in the company, valued at C$490,470,903.86. The trade was a 0.12% increase in their ownership of the stock. Insiders have purchased a total of 25,000 shares of company stock worth $1,508,428 in the last quarter. 5.13% of the stock is owned by insiders.

About Tourmaline Oil

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.