Tourmaline Oil Corp. (TSE:TOU) Stock Has Consensus Price Target of C$70.36 According to Analysts

Key Points

• Analysts have a Moderate Buy consensus on Tourmaline Oil, with five holds, two buys and three strong buys among 10 analysts. The average 12-month price target is C$70.36, above the reported share price of C$61.42.
• Recent research updates were mixed but generally positive: TD and Desjardins maintained hold ratings, while Jefferies raised its target to C$74 and Scotiabank upgraded the stock to strong buy.
• Tourmaline reported quarterly earnings of C$0.47 per share on C$1.50 billion in revenue. Insiders have been net buyers over the past 90 days, purchasing 20,766 shares, while company insiders own 5.13% of the stock.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) has been given an average rating of "Moderate Buy" by the ten analysts that are presently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and three have given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is C$70.36.

A number of research firms have recently commented on TOU. TD raised their price target on Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a "hold" rating in a report on Wednesday, July 22nd. Jefferies Financial Group boosted their price objective on Tourmaline Oil from C$72.00 to C$74.00 in a research note on Friday, July 24th. Scotiabank raised Tourmaline Oil to a "strong-buy" rating in a report on Friday, June 26th. Finally, Desjardins set a C$68.00 price objective on Tourmaline Oil and gave the stock a "hold" rating in a report on Friday, July 17th.

Insider Activity

In other news, insider Mike Rose acquired 5,000 shares of the business's stock in a transaction dated Friday, September 11th. The stock was bought at an average cost of C$61.45 per share, for a total transaction of C$307,250.00. Following the completion of the transaction, the insider owned 8,147,678 shares of the company's stock, valued at C$500,674,813.10. The trade was a 0.06% increase in their ownership of the stock. Also, insider Earl Henry Mckinnon sold 4,700 shares of the business's stock in a transaction that occurred on Friday, July 3rd. The shares were sold at an average price of C$60.35, for a total transaction of C$283,645.00. Following the transaction, the insider directly owned 132,280 shares of the company's stock, valued at approximately C$7,983,098. This represents a 3.43% decrease in their position. Insiders have purchased a total of 20,766 shares of company stock worth $1,270,994 over the last ninety days. Company insiders own 5.13% of the company's stock.

Tourmaline Oil Stock Performance

Shares of TOU stock opened at C$61.42 on Friday. The stock has a market capitalization of C$23.87 billion, a P/E ratio of 66.76, a PEG ratio of 1.72 and a beta of -0.26. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 8.24. The firm's 50 day moving average is C$61.90 and its 200 day moving average is C$63.02. Tourmaline Oil has a 12 month low of C$57.95 and a 12 month high of C$70.57.

Tourmaline Oil (TSE:TOU - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported C$0.47 earnings per share for the quarter. Tourmaline Oil had a net margin of 6.50% and a return on equity of 2.37%. The business had revenue of C$1.50 billion during the quarter. On average, sell-side analysts anticipate that Tourmaline Oil will post 5.6809091 earnings per share for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.