Tourmaline Oil (TSE:TOU) Raised to Buy at Desjardins

Tourmaline Oil (TSE:TOU) was upgraded by Desjardins from a “hold” rating to a “buy” rating in a note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a C$68.00 price objective on the stock. Desjardins’ price objective would suggest a potential upside of 7.19% from the company’s current price.

A number of other analysts have also recently issued reports on TOU. The Goldman Sachs Group raised shares of Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 13th. Royal Bank Of Canada reduced their price objective on shares of Tourmaline Oil from C$78.00 to C$75.00 in a research report on Friday, August 1st. Capital One Financial raised shares of Tourmaline Oil to a “strong-buy” rating in a report on Monday, October 27th. ATB Capital raised their target price on shares of Tourmaline Oil from C$76.00 to C$77.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Finally, Raymond James Financial dropped their price objective on shares of Tourmaline Oil from C$74.00 to C$72.00 in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Tourmaline Oil has an average rating of “Buy” and an average price target of C$73.30.

Tourmaline Oil Stock Performance

TSE:TOU traded up C$1.42 on Monday, hitting C$63.44. The stock had a trading volume of 1,490,640 shares, compared to its average volume of 2,393,887. The business’s 50-day simple moving average is C$61.19 and its two-hundred day simple moving average is C$61.56. Tourmaline Oil has a 52-week low of C$55.40 and a 52-week high of C$70.83. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. The stock has a market cap of C$24.55 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 1.72 and a beta of 0.29.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings data on Wednesday, November 5th. The company reported C$0.49 earnings per share (EPS) for the quarter. Tourmaline Oil had a net margin of 28.53% and a return on equity of 11.08%. The firm had revenue of C$1.30 billion during the quarter. As a group, research analysts predict that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Christopher Lee acquired 17,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was purchased at an average cost of C$58.30 per share, for a total transaction of C$991,045.60. Following the completion of the acquisition, the director directly owned 17,000 shares of the company’s stock, valued at C$991,045.60. The trade was a ∞ increase in their position. Also, insider Mike Rose purchased 10,000 shares of Tourmaline Oil stock in a transaction dated Friday, November 7th. The stock was acquired at an average price of C$59.83 per share, with a total value of C$598,300.00. Following the acquisition, the insider owned 8,197,742 shares in the company, valued at approximately C$490,470,903.86. This represents a 0.12% increase in their position. Insiders have bought a total of 42,000 shares of company stock worth $2,499,474 in the last three months. Corporate insiders own 5.13% of the company’s stock.

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.