Tourmaline Oil Corp. (TSE:TOU) Receives Average Rating of “Moderate Buy” from Brokerages

Tourmaline Oil Corp. (TSE:TOU) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is C$77.96.

A number of brokerages have commented on TOU. UBS Group increased their price target on shares of Tourmaline Oil from C$70.00 to C$73.00 in a research report on Monday. Jefferies Financial Group increased their price objective on Tourmaline Oil from C$67.00 to C$73.00 in a report on Thursday, November 7th. Canaccord Genuity Group cut their target price on shares of Tourmaline Oil from C$75.00 to C$74.00 in a research note on Tuesday, October 22nd. National Bankshares set a C$72.50 price target on Tourmaline Oil and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Cormark raised shares of Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd.

Tourmaline Oil Price Performance

Tourmaline Oil stock opened at C$64.03 on Friday. The business has a 50-day simple moving average of C$64.24 and a 200 day simple moving average of C$62.77. Tourmaline Oil has a 52 week low of C$53.45 and a 52 week high of C$69.25. The stock has a market cap of C$23.77 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 1.72 and a beta of 1.30. The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, November 6th. The company reported C$1.00 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.26 by C($0.26). The company had revenue of C$1.47 billion during the quarter, compared to analysts’ expectations of C$1.63 billion. Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. On average, research analysts forecast that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Insider Activity

In other news, Senior Officer William Scott Kirker sold 66,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of C$66.37, for a total transaction of C$4,380,274.80. Also, Senior Officer Mike Rose acquired 2,500 shares of the stock in a transaction dated Friday, September 20th. The stock was acquired at an average price of C$58.40 per share, for a total transaction of C$146,004.50. Insiders purchased 15,000 shares of company stock valued at $926,731 over the last three months. Insiders own 5.13% of the company’s stock.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.