Tourmaline Oil Corp. (TSE:TOU) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Shares of Tourmaline Oil Corp. (TSE:TOU) have been given a consensus rating of “Moderate Buy” by the nine brokerages that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, two have given a buy rating and three have issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$70.60.

Several equities research analysts have recently issued reports on TOU shares. Jefferies Financial Group raised their price objective on Tourmaline Oil from C$72.00 to C$74.00 in a research note on Friday, July 24th. Desjardins set a C$68.00 target price on Tourmaline Oil and gave the company a “hold” rating in a research report on Friday, July 17th. TD increased their price target 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, Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a report on Friday, June 26th.

Tourmaline Oil Stock Down 0.4%

Shares of TSE TOU opened at C$60.66 on Friday. The firm’s 50-day moving average price is C$61.61 and its 200-day moving average price is C$62.87. 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 stock has a market capitalization of C$23.57 billion, a price-to-earnings ratio of 65.93, a P/E/G ratio of 1.72 and a beta of -0.26. Tourmaline Oil has a 12-month low of C$57.95 and a 12-month high of C$70.57.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, July 29th. The company reported C$0.47 EPS for the quarter. Tourmaline Oil had a return on equity of 2.37% and a net margin of 6.50%.The company had revenue of C$1.50 billion during the quarter. On average, equities research analysts anticipate that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mike Rose bought 5,000 shares of the stock in a transaction dated Tuesday, September 29th. The stock was purchased at an average price of C$60.28 per share, for a total transaction of C$301,400.00. Following the acquisition, the insider owned 8,157,678 shares of the company’s stock, valued at C$491,744,829.84. The trade was a 0.06% increase in their ownership of the stock. Also, Director Jill Terilee Angevine purchased 766 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were purchased at an average cost of C$59.00 per share, with a total value of C$45,194.00. Following the completion of the purchase, the director owned 71,766 shares in the company, valued at C$4,234,194. This trade represents a 1.08% increase in their position. Insiders have acquired 30,766 shares of company stock worth $1,878,144 in the last quarter. Company insiders own 5.13% of the company’s stock.

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.