Tourmaline Oil Corp. (TSE:TOU) Stock Has Consensus Target Price of C$70.60 According to Analysts

Shares of Tourmaline Oil Corp. (TSE:TOU) have received a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, two have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$70.80.

Several equities research analysts have issued reports on the stock. Desjardins set a C$68.00 price objective on shares of Tourmaline Oil and gave the stock a “hold” rating in a research note on Friday, July 17th. The Goldman Sachs Group cut Tourmaline Oil from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, October 1st. Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a report on Friday, June 26th. ATB Cormark Capital Markets raised their price target on Tourmaline Oil from C$70.00 to C$75.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Jefferies Financial Group raised their target price on Tourmaline Oil from C$72.00 to C$74.00 in a research note on Friday, July 24th.

Tourmaline Oil Price Performance

TOU stock opened at C$65.86 on Tuesday. The firm has a market cap of C$25.59 billion, a P/E ratio of 71.59, a PEG ratio of 1.72 and a beta of -0.27. Tourmaline Oil has a 1 year low of C$57.95 and a 1 year high of C$70.57. The company has a debt-to-equity ratio of 8.24, a quick ratio of 0.47 and a current ratio of 0.72. The stock’s 50 day moving average price is C$62.53 and its 200 day moving average price is C$62.57.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, July 29th. The company reported C$0.47 earnings per share 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. On average, sell-side analysts expect that Tourmaline Oil will post 5.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Mike Rose purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 6th. The stock was acquired at an average cost of C$62.06 per share, for a total transaction of C$310,300.00. Following the completion of the acquisition, the insider owned 8,162,678 shares in the company, valued at C$506,575,796.68. This trade represents a 0.06% increase in their position. Over the last three months, insiders have purchased 35,000 shares of company stock valued at $2,143,250. Company insiders own 5.13% of the company’s stock.

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.