Tourmaline Oil (TSE:TOU) Downgraded by The Goldman Sachs Group to Strong Sell

The Goldman Sachs Group cut shares of Tourmaline Oil (TSE:TOU) from a strong-buy rating to a strong sell rating in a report released on Thursday,Zacks reports.

Other equities research analysts have also issued research reports about the stock. TD increased their price objective on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group upped their target price on Tourmaline Oil from C$72.00 to C$74.00 in a report on Friday, July 24th. Desjardins set a C$68.00 price objective on Tourmaline Oil and gave the company a “hold” rating in a research report on Friday, July 17th. Finally, Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$70.60.

Tourmaline Oil Price Performance

Shares of TSE TOU opened at C$60.66 on Thursday. 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 company has a market capitalization of C$23.57 billion, a price-to-earnings ratio of 65.93, a price-to-earnings-growth ratio of 1.72 and a beta of -0.26. Tourmaline Oil has a twelve month low of C$57.95 and a twelve month high of C$70.57. The business has a 50 day simple moving average of C$61.61 and a 200-day simple moving average of C$62.87.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings data on Wednesday, July 29th. The company reported C$0.47 EPS for the quarter. The firm had revenue of C$1.50 billion during the quarter. Tourmaline Oil had a net margin of 6.50% and a return on equity of 2.37%. As a group, equities research analysts expect that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Insider Transactions at Tourmaline Oil

In related news, insider Mike Rose acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, September 29th. The shares were acquired at an average price of C$60.28 per share, for a total transaction of C$301,400.00. Following the completion of the purchase, the insider directly owned 8,157,678 shares of the company’s stock, valued at C$491,744,829.84. The trade was a 0.06% increase in their ownership of the stock. Also, Director Jill Terilee Angevine bought 766 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were purchased at an average cost of C$59.00 per share, for a total transaction of C$45,194.00. Following the acquisition, the director owned 71,766 shares of the company’s stock, valued at C$4,234,194. This represents a 1.08% increase in their ownership of the stock. Insiders purchased a total of 30,766 shares of company stock valued at $1,878,144 in the last quarter. 5.13% of the stock is currently owned by insiders.

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.