Tourmaline Oil Corp. (TSE:TOU) Stock Has Average Target Price of C$70.36 According to Brokerages

Shares of Tourmaline Oil Corp. (TSE:TOU) have been given an average rating of “Moderate Buy” by the ten ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is C$70.36.

TOU has been the topic of a number of recent research reports. Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a report on Friday, June 26th. Jefferies Financial Group boosted their price target on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research note on Friday, July 24th. TD upped 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 report on Wednesday, July 22nd. Finally, Desjardins set a C$68.00 price objective on shares of Tourmaline Oil and gave the company a “hold” rating in a research note on Friday, July 17th.

Insider Transactions at Tourmaline Oil

In other Tourmaline Oil news, Director Jill Terilee Angevine bought 766 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were bought at an average price of C$59.00 per share, for a total transaction of C$45,194.00. Following the acquisition, the director directly owned 71,766 shares of the company’s stock, valued at approximately C$4,234,194. The trade was a 1.08% increase in their position. Also, insider Earl Henry Mckinnon sold 4,700 shares of the firm’s stock in a transaction dated Friday, July 3rd. The shares were sold at an average price of C$60.35, for a total transaction of C$283,645.00. Following the completion of the transaction, the insider directly owned 132,280 shares in the company, valued at approximately C$7,983,098. The trade was a 3.43% decrease in their position. Insiders acquired a total of 25,766 shares of company stock valued at $1,576,744 over the last three months. Corporate insiders own 5.13% of the company’s stock.

Tourmaline Oil Price Performance

Shares of TSE:TOU opened at C$61.38 on Friday. The business’s 50 day simple moving average is C$61.88 and its two-hundred day simple moving average is C$63.00. The firm has a market cap of C$23.85 billion, a P/E ratio of 66.72, a PEG ratio of 1.72 and a beta of -0.26. The company has a debt-to-equity ratio of 8.24, a quick ratio of 0.47 and a current ratio of 0.72. Tourmaline Oil has a 52-week low of C$57.95 and a 52-week high of C$70.57.

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

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.