Tourmaline Oil (TSE:TOU) Issues Quarterly Earnings Results

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

Tourmaline Oil Price Performance

TOU opened at C$63.00 on Thursday. Tourmaline Oil has a 12-month low of C$57.95 and a 12-month high of C$70.57. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 8.24. The business’s fifty day simple moving average is C$63.53 and its 200-day simple moving average is C$63.17. The company has a market capitalization of C$24.48 billion, a price-to-earnings ratio of 68.48, a PEG ratio of 1.72 and a beta of -0.09.

Insider Buying and Selling at Tourmaline Oil

In other news, insider Mike Rose acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 6th. The stock was purchased at an average cost of C$62.06 per share, for a total transaction of C$310,300.00. Following the completion of the acquisition, the insider directly owned 8,162,678 shares of the company’s stock, valued at C$506,575,796.68. The trade was a 0.06% increase in their position. Insiders bought 25,000 shares of company stock valued at $1,534,050 in the last ninety days. Insiders own 5.13% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Jefferies Financial Group raised their price objective 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 Tourmaline Oil from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, October 1st. ATB Cormark Capital Markets raised their price target on Tourmaline Oil from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. TD boosted their price objective on Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. Finally, Desjardins set a C$68.00 price objective on Tourmaline Oil and gave the company a “hold” rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Tourmaline Oil has a consensus rating of “Hold” and an average price target of C$70.80.

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.