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

Tourmaline Oil (TSE:TOU) had its price target raised by research analysts at TD from C$65.00 to C$66.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD’s price target would suggest a potential upside of 1.71% from the stock’s previous close.

TOU has been the subject of several other reports. BMO Capital Markets downgraded Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Desjardins set a C$68.00 price target on Tourmaline Oil and gave the company a “hold” rating in a report on Friday, July 17th. Canaccord Genuity Group lowered shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective on the stock. in a research report on Thursday, May 7th. Finally, Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a report on Friday, June 26th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Tourmaline Oil presently has an average rating of “Moderate Buy” and a consensus target price of C$70.00.

Tourmaline Oil Stock Performance

TSE TOU opened at C$64.89 on Wednesday. The firm has a market capitalization of C$25.20 billion, a P/E ratio of 35.85, a price-to-earnings-growth ratio of 1.72 and a beta of -0.27. The company has a current ratio of 0.88, a quick ratio of 0.47 and a debt-to-equity ratio of 7.14. The firm’s fifty day moving average price is C$62.74 and its two-hundred day moving average price is C$63.04. Tourmaline Oil has a 1 year low of C$56.72 and a 1 year high of C$70.57.

Tourmaline Oil (TSE:TOU) last issued its earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share (EPS) for the quarter. Tourmaline Oil had a net margin of 12.79% and a return on equity of 4.40%. The company had revenue of C$1.78 billion for the quarter. As a group, research analysts anticipate that Tourmaline Oil will post 5.6809091 EPS for the current year.

Insider Transactions at Tourmaline Oil

In other news, insider James William Alexander Heard purchased 1,000 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were purchased at an average cost of C$58.88 per share, with a total value of C$58,880.00. Following the completion of the purchase, the insider owned 67,476 shares of the company’s stock, valued at C$3,972,986.88. This trade represents a 1.50% increase in their position. Also, insider Earl Henry Mckinnon sold 4,700 shares of the business’s stock in a transaction dated Friday, July 3rd. The stock was sold at an average price of C$60.35, for a total value of C$283,645.00. Following the sale, the insider owned 132,280 shares in the company, valued at approximately C$7,983,098. This trade represents a 3.43% decrease in their ownership of the stock. In the last 90 days, insiders purchased 39,266 shares of company stock worth $2,463,574. 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.