Tourmaline Oil Corp. (TSE:TOU) Stock Has Consensus Target Price of C$70.36

Tourmaline Oil Corp. (TSE:TOU) has earned an average rating of “Moderate Buy” from the nine analysts that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$70.60.

Several research firms have recently commented on TOU. Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a report on Friday, June 26th. Desjardins set a C$68.00 target price on shares of Tourmaline Oil and gave the stock a “hold” rating in a report on Friday, July 17th. Jefferies Financial Group upped their target price on Tourmaline Oil from C$72.00 to C$74.00 in a report on Friday, July 24th. Finally, TD increased their price target on 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.

Tourmaline Oil Stock Performance

Shares of TOU opened at C$59.81 on Friday. The business’s fifty day moving average price is C$61.77 and its 200 day moving average price is C$62.95. Tourmaline Oil has a 12-month low of C$57.95 and a 12-month high of C$70.57. The stock has a market capitalization of C$23.24 billion, a PE ratio of 65.01, a price-to-earnings-growth ratio of 1.72 and a beta of -0.26. 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 (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 net margin of 6.50% and a return on equity of 2.37%. The firm had revenue of C$1.50 billion during the quarter. Equities research analysts forecast that Tourmaline Oil will post 5.6809091 EPS for the current year.

Insider Buying and Selling

In other news, Director Jill Terilee Angevine purchased 766 shares of Tourmaline Oil stock in a transaction dated Monday, July 6th. The stock was bought at an average price of C$59.00 per share, with a total value of C$45,194.00. Following the completion of the acquisition, the director owned 71,766 shares in the company, valued at 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 business’s stock in a transaction on 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 transaction, the insider directly owned 132,280 shares of the company’s stock, valued at approximately C$7,983,098. This trade represents a 3.43% decrease in their position. Insiders purchased a total of 30,766 shares of company stock worth $1,878,144 in the last three months. 5.13% of the stock is owned by insiders.

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.