Scotiabank Issues Pessimistic Forecast for Tourmaline Oil (TSE:TOU) Stock Price

Tourmaline Oil (TSE:TOU) had its price target cut by investment analysts at Scotiabank from C$80.00 to C$75.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 21.85% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. TD Securities cut shares of Tourmaline Oil from a “buy” rating to a “hold” rating and cut their price target for the company from C$73.00 to C$68.00 in a report on Tuesday, September 30th. Jefferies Financial Group cut their target price on Tourmaline Oil from C$72.00 to C$70.00 in a research note on Tuesday. Capital One Financial upgraded Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 27th. Raymond James Financial lowered their price target on Tourmaline Oil from C$74.00 to C$72.00 in a report on Thursday, November 6th. Finally, Desjardins upgraded Tourmaline Oil from a “hold” rating to a “buy” rating and set a C$68.00 price objective for the company in a report on Monday, November 24th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Tourmaline Oil currently has a consensus rating of “Buy” and a consensus price target of C$71.33.

Tourmaline Oil Stock Down 0.5%

Shares of TSE:TOU opened at C$61.55 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13. The stock has a fifty day simple moving average of C$61.47 and a two-hundred day simple moving average of C$60.69. Tourmaline Oil has a 12-month low of C$55.40 and a 12-month high of C$70.83. The stock has a market capitalization of C$23.82 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.72 and a beta of -0.03.

Tourmaline Oil (TSE:TOU) last announced its quarterly 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%. On average, research analysts anticipate that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Insider Activity at Tourmaline Oil

In related news, insider Mike Rose bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The shares were bought at an average cost of C$58.72 per share, with a total value of C$146,800.00. Following the acquisition, the insider owned 8,032,678 shares in the company, valued at C$471,678,852.16. This trade represents a 0.03% increase in their ownership of the stock. 5.13% of the stock is owned by company insiders.

About Tourmaline Oil

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.