Tourmaline Oil Corp. (TSE:TOU) Stock Rated “Hold” by Sell-Side Brokerages

Shares of Tourmaline Oil Corp. (TSE:TOU) have been assigned a consensus rating of “Hold” from the eight brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$70.80.

TOU has been the topic of a number of research analyst reports. TD raised 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. Desjardins set a C$68.00 target price on shares of Tourmaline Oil and gave the company a “hold” rating in a report on Friday, July 17th. ATB Cormark Capital Markets upped their target price on shares of Tourmaline Oil from C$70.00 to C$75.00 and gave the company an “outperform” rating in a report on Thursday, October 22nd. Jefferies Financial Group increased their target price on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. Finally, The Goldman Sachs Group lowered shares of Tourmaline Oil from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, October 1st.

Insider Transactions at Tourmaline Oil

In related news, insider Mike Rose acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, October 6th. The stock was bought at an average price of C$62.06 per share, for a total transaction of C$310,300.00. Following the completion of the purchase, the insider directly owned 8,162,678 shares of the company’s stock, valued at approximately C$506,575,796.68. The trade was a 0.06% increase in their position. Insiders have acquired a total of 35,000 shares of company stock valued at $2,143,250 in 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$67.44 on Tuesday. 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 fifty-two week low of C$57.95 and a fifty-two week high of C$70.57. The firm has a market capitalization of C$26.21 billion, a PE ratio of 73.30, a price-to-earnings-growth ratio of 1.72 and a beta of -0.27. The stock’s 50-day simple moving average is C$62.76 and its 200-day simple moving average is C$62.89.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, July 29th. The company reported C$0.47 earnings per share 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%. As a group, equities research analysts forecast that Tourmaline Oil will post 5.68 EPS for the current fiscal year.

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.