ATB Cormark Capital Markets Issues Positive Forecast for Tourmaline Oil (TSE:TOU) Stock Price

Tourmaline Oil (TSE:TOU) had its price target hoisted by equities research analysts at ATB Cormark Capital Markets from C$70.00 to C$75.00 in a research report issued on Thursday, BayStreet reports. The firm presently has an “outperform” rating on the stock. ATB Cormark Capital Markets‘s target price points to a potential upside of 13.88% from the stock’s previous close.

TOU has been the topic of several other reports. The Goldman Sachs Group lowered shares of Tourmaline Oil from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, October 1st. Desjardins set a C$68.00 target price on Tourmaline Oil and gave the company a “hold” rating in a research note on Friday, July 17th. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. Jefferies Financial Group upped their price objective on Tourmaline Oil from C$72.00 to C$74.00 in a report on Friday, July 24th. Finally, TD lifted their price target on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Tourmaline Oil has an average rating of “Moderate Buy” and an average price target of C$70.80.

Tourmaline Oil Price Performance

Shares of TOU traded down C$0.11 on Thursday, reaching C$65.86. The stock had a trading volume of 1,515,153 shares, compared to its average volume of 2,629,257. Tourmaline Oil has a twelve month low of C$57.95 and a twelve month high of C$70.57. The firm has a market capitalization of C$25.59 billion, a PE ratio of 71.59, a PEG ratio of 1.72 and a beta of -0.27. The firm has a 50-day moving average of C$62.40 and a 200 day moving average of C$62.56. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 8.24.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C$0.47 earnings per share (EPS) for the quarter. The firm had revenue of C$1.50 billion during the quarter. Tourmaline Oil had a return on equity of 2.37% and a net margin of 6.50%. Sell-side analysts expect that Tourmaline Oil will post 5.68 EPS for the current year.

Insider Activity

In other news, insider Mike Rose bought 5,000 shares of Tourmaline Oil stock in a transaction dated Tuesday, October 6th. The shares were acquired at an average cost of C$62.06 per share, with a total value of C$310,300.00. Following the completion of the transaction, the insider owned 8,162,678 shares in the company, valued at approximately C$506,575,796.68. This trade represents a 0.06% increase in their position. Insiders have purchased a total of 35,000 shares of company stock worth $2,143,250 in the last 90 days. Company insiders own 5.13% of the company’s stock.

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.