Tourmaline Oil (TSE:TOU) Stock Price Expected to Rise, Desjardins Analyst Says

Tourmaline Oil (TSE:TOU) had its price target upped by Desjardins from C$68.00 to C$70.00 in a report issued on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Desjardins’ price objective indicates a potential upside of 11.25% from the stock’s previous close.

A number of other research analysts have also commented on TOU. The Goldman Sachs Group upgraded Tourmaline Oil to a “strong-buy” rating in a research report on Monday, October 13th. Jefferies Financial Group decreased their price target on Tourmaline Oil from C$72.00 to C$70.00 in a report on Tuesday, January 20th. Scotiabank lowered their price objective on Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating for the company in a research report on Wednesday, January 21st. TD Securities downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and cut their target price for the company from C$73.00 to C$68.00 in a research report on Tuesday, September 30th. Finally, CIBC reduced their target price on shares of Tourmaline Oil from C$71.00 to C$66.00 in a research note on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of C$71.56.

Tourmaline Oil Stock Up 0.7%

Shares of TSE:TOU opened at C$62.92 on Monday. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. The firm has a market cap of C$24.35 billion, a P/E ratio of 17.98, a P/E/G ratio of 1.72 and a beta of -0.03. Tourmaline Oil has a 12 month low of C$55.40 and a 12 month high of C$70.83. The company’s 50-day moving average price is C$61.58 and its two-hundred day moving average price is C$60.65.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, November 5th. The company reported C$0.49 earnings per share (EPS) for the quarter. The company had revenue of C$1.40 billion for the quarter. Tourmaline Oil had a net margin of 28.53% and a return on equity of 11.08%. As a group, research analysts forecast that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Insider Transactions at Tourmaline Oil

In other news, insider Mike Rose bought 10,000 shares of the business’s stock in a transaction on Friday, November 7th. The shares were bought at an average cost of C$59.83 per share, for a total transaction of C$598,300.00. Following the completion of the acquisition, the insider owned 8,197,742 shares in the company, valued at approximately C$490,470,903.86. This trade represents a 0.12% increase in their position. Corporate insiders own 5.13% of the company’s stock.

Tourmaline Oil Company Profile

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.