Tourmaline Oil Corp. (TOU.TO) - What Are Brokerages Saying About This Stock?

Key Points

• Analysts maintain a “Moderate Buy” consensus on Tourmaline Oil, with nine analysts assigning one sell, four hold, two buy and two strong-buy ratings. The average 12-month price target is C$70.60.
• Broker views are mixed: Jefferies raised its target to C$74, Scotiabank upgraded the stock to “strong buy,” while Goldman Sachs downgraded it from “strong buy” to “strong sell.”
• Insiders purchased 35,000 shares worth approximately C$2.14 million during the last quarter, while the company most recently reported C$0.47 in quarterly EPS and C$1.50 billion in revenue.

Shares of Tourmaline Oil Corp. (TSE:TOU - Get Free Report) have received a consensus rating of "Moderate Buy" from the nine analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is C$70.60.

TOU has been the topic of a number of research reports. Jefferies Financial Group lifted their price target on shares of Tourmaline Oil from C$72.00 to C$74.00 in a report on Friday, July 24th. Scotiabank raised shares of Tourmaline Oil to a "strong-buy" rating in a report on Friday, June 26th. TD raised their price objective on Tourmaline Oil from C$65.00 to C$66.00 and gave the company a "hold" rating in a research report on Wednesday, July 22nd. The Goldman Sachs Group lowered Tourmaline Oil from a "strong-buy" rating to a "strong sell" rating in a research report on Thursday, October 1st. Finally, Desjardins set a C$68.00 target price on Tourmaline Oil and gave the stock a "hold" rating in a report on Friday, July 17th.

Insider Activity at Tourmaline Oil

In other news, insider Mike Rose purchased 5,000 shares of the company's stock in a transaction that occurred on Tuesday, October 6th. The stock was bought at an average cost of C$62.06 per share, with a total value of C$310,300.00. Following the completion of the purchase, the insider owned 8,162,678 shares in the company, valued at approximately C$506,575,796.68. This represents a 0.06% increase in their ownership of the stock. Insiders bought 35,000 shares of company stock valued at $2,143,250 in the last quarter. 5.13% of the stock is currently owned by insiders.

Tourmaline Oil Stock Down 0.0%

Shares of TOU opened at C$66.16 on Tuesday. The business's 50 day moving average is C$62.15 and its 200 day moving average is C$62.53. The company has a market capitalization of C$25.71 billion, a PE ratio of 71.91, a price-to-earnings-growth ratio of 1.72 and a beta of -0.27. Tourmaline Oil has a 12-month low of C$57.95 and a 12-month high of C$70.57. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 8.24.

Tourmaline Oil (TSE:TOU - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported C$0.47 EPS for the quarter. Tourmaline Oil had a return on equity of 2.37% and a net margin of 6.50%. The company had revenue of C$1.50 billion for the quarter. Research analysts expect that Tourmaline Oil will post 5.68 earnings per share for the current fiscal year.

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.

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