Tourmaline Oil (TSE:TOU) Upgraded to Strong-Buy at Scotiabank

Key Points

• Scotiabank upgraded Tourmaline Oil to a "strong-buy", and the analyst consensus remains a Buy with a consensus target price of C$71.22.
• Shares opened at C$63.80 (50-day MA C$64.22), the company has a market cap of C$24.7B and a high P/E of 93.82, while last quarter showed an EPS loss of C($1.72) on C$1.66B revenue.
• Insider Mike Rose bought 2,500 shares at C$68.50 (insiders own 5.13% of the company), reflecting recent insider buying activity.

Tourmaline Oil (TSE:TOU - Get Free Report) was upgraded by equities researchers at Scotiabank to a "strong-buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on TOU. ATB Cormark Capital Markets lowered their price target on Tourmaline Oil from C$74.00 to C$73.00 and set an "outperform" rating on the stock in a research report on Friday, March 6th. Desjardins boosted their price target on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the stock a "buy" rating in a research note on Monday, March 9th. Royal Bank Of Canada decreased their price objective on Tourmaline Oil from C$76.00 to C$72.00 and set an "outperform" rating for the company in a research note on Friday, March 6th. Canadian Imperial Bank of Commerce reduced their price objective on Tourmaline Oil from C$71.00 to C$66.00 in a research note on Tuesday, January 13th. Finally, Raymond James Financial raised their price target on Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of C$71.22.

Tourmaline Oil Price Performance

TSE TOU opened at C$63.80 on Wednesday. The company's 50 day moving average is C$64.22 and its two-hundred day moving average is C$62.34. The company has a current ratio of 0.83, a quick ratio of 0.47 and a debt-to-equity ratio of 12.25. The stock has a market cap of C$24.70 billion, a price-to-earnings ratio of 93.82, a PEG ratio of 1.72 and a beta of 0.00. Tourmaline Oil has a 12 month low of C$55.40 and a 12 month high of C$70.73.

Tourmaline Oil (TSE:TOU - Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The company reported C($1.72) EPS for the quarter. The business had revenue of C$1.66 billion during the quarter. Tourmaline Oil had a return on equity of 1.65% and a net margin of 5.03%. As a group, research analysts anticipate that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Mike Rose acquired 2,500 shares of Tourmaline Oil stock in a transaction on Wednesday, March 25th. The stock was bought at an average price of C$68.50 per share, for a total transaction of C$171,250.00. Following the transaction, the insider owned 8,060,178 shares of the company's stock, valued at C$552,122,193. The trade was a 0.03% increase in their ownership of the stock. Insiders bought 15,000 shares of company stock worth $940,150 over the last 90 days. 5.13% of the stock is owned by company insiders.

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.

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