Tourmaline Oil (TSE:TOU) Releases Quarterly Earnings Results

Tourmaline Oil (TSE:TOU) released its quarterly earnings results on Wednesday. The company reported C$1.64 earnings per share for the quarter, FiscalAI reports. Tourmaline Oil had a return on equity of 2.37% and a net margin of 6.50%. The company had revenue of C$1.47 billion during the quarter.

Tourmaline Oil Stock Performance

Shares of TSE:TOU opened at C$62.27 on Friday. The company has a debt-to-equity ratio of 8.24, a current ratio of 0.72 and a quick ratio of 0.47. Tourmaline Oil has a 1 year low of C$57.95 and a 1 year high of C$70.57. The firm has a market capitalization of C$24.20 billion, a PE ratio of 67.68, a P/E/G ratio of 1.72 and a beta of -0.09. The business’s 50 day moving average price is C$63.53 and its 200-day moving average price is C$63.18.

Insiders Place Their Bets

In other Tourmaline Oil news, insider Mike Rose bought 5,000 shares of Tourmaline Oil stock in a transaction dated Tuesday, October 6th. The stock was acquired at an average cost of C$62.06 per share, for a total transaction of C$310,300.00. Following the completion of the transaction, the insider directly owned 8,162,678 shares of the company’s stock, valued at approximately C$506,575,796.68. This represents a 0.06% increase in their ownership of the stock. In the last 90 days, insiders acquired 25,000 shares of company stock valued at $1,534,050. Company insiders own 5.13% of the company’s stock.

Wall Street Analysts Forecast Growth

TOU has been the subject of a number of research analyst reports. 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 research report on Wednesday, July 22nd. ATB Cormark Capital Markets lifted 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 research report on Thursday, October 22nd. Jefferies Financial Group boosted their target price on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research note on Friday, July 24th. The Goldman Sachs Group downgraded shares of Tourmaline Oil from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, October 1st. Finally, Desjardins set a C$68.00 price target on shares of Tourmaline Oil and gave the company a “hold” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of C$70.80.

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 two 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.