Tourmaline Oil (TSE:TOU) Rating Increased to Strong-Buy at The Goldman Sachs Group

Key Points

• Tourmaline Oil has received a "strong-buy" rating from The Goldman Sachs Group, indicating a positive outlook for the stock.
• Other analysts have varying ratings, with targets ranging from C$68.00 to C$77.00, suggesting mixed sentiments within the market.
• Recent insider activity includes significant share purchases, with a director buying 17,000 shares, hinting at confidence in the company’s future performance.

Tourmaline Oil (TSE:TOU - Get Free Report) was upgraded by research analysts at The Goldman Sachs Group to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

TOU has been the subject of several other reports. ATB Capital boosted their price objective on shares of Tourmaline Oil from C$76.00 to C$77.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Raymond James Financial cut shares of Tourmaline Oil from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from C$76.00 to C$74.00 in a research report on Thursday, July 31st. Royal Bank Of Canada lowered their price target on shares of Tourmaline Oil from C$78.00 to C$75.00 in a research report on Friday, August 1st. TD Securities cut shares of Tourmaline Oil from a "buy" rating to a "hold" rating and lowered their price target for the stock from C$73.00 to C$68.00 in a research report on Tuesday, September 30th. Finally, CIBC lowered their price target on shares of Tourmaline Oil from C$75.00 to C$74.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$74.00.

Tourmaline Oil Price Performance

TOU stock opened at C$59.64 on Monday. Tourmaline Oil has a 12 month low of C$55.40 and a 12 month high of C$70.83. 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 company has a 50-day moving average price of C$59.48 and a 200 day moving average price of C$61.77. The stock has a market cap of C$23.07 billion, a PE ratio of 14.84, a P/E/G ratio of 1.72 and a beta of 0.35.

Insider Activity at Tourmaline Oil

In related news, Director Christopher Lee purchased 17,000 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were acquired at an average price of C$58.30 per share, for a total transaction of C$991,045.60. Following the purchase, the director owned 17,000 shares of the company's stock, valued at C$991,045.60. This trade represents a ∞ increase in their position. Also, insider Mike Rose purchased 10,000 shares of the business's stock in a transaction on Friday, October 10th. The shares were bought at an average price of C$60.42 per share, for a total transaction of C$604,200.00. Following the purchase, the insider directly owned 8,187,742 shares in the company, valued at C$494,703,371.64. This represents a 0.12% increase in their position. In the last quarter, insiders have purchased 37,305 shares of company stock valued at $2,210,556. 5.13% of the stock is currently owned by company insiders.

Tourmaline Oil Company Profile

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.

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