Tudor Pickering Reiterates Buy Rating for Tourmaline Oil (TSE:TOU)

Tourmaline Oil (TSE:TOU)‘s stock had its “buy” rating reiterated by investment analysts at Tudor Pickering in a report released on Thursday, Stock Target Advisor reports. They currently have a C$23.00 price objective on the stock. Tudor Pickering’s target price suggests a potential upside of 45.02% from the stock’s previous close.

TOU has been the subject of a number of other research reports. BMO Capital Markets cut their price objective on shares of Tourmaline Oil from C$20.00 to C$18.00 in a research report on Monday, June 29th. Canaccord Genuity upped their price target on shares of Tourmaline Oil from C$17.00 to C$20.00 in a research note on Thursday, July 30th. Royal Bank of Canada upped their price target on shares of Tourmaline Oil from C$18.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 1st. Scotiabank upped their price target on shares of Tourmaline Oil from C$16.00 to C$23.00 in a research note on Monday, June 15th. Finally, Tudor Pickering & Holt set a C$23.00 price target on shares of Tourmaline Oil and gave the stock a “buy” rating in a research note on Thursday. Seven research analysts have rated the stock with a buy rating, Tourmaline Oil presently has a consensus rating of “Buy” and an average price target of C$21.20.

Tourmaline Oil stock traded down C$0.01 during trading hours on Thursday, reaching C$15.86. 916,260 shares of the stock were exchanged, compared to its average volume of 1,738,049. The stock has a market cap of $4.41 billion and a P/E ratio of 70.18. The company has a debt-to-equity ratio of 22.25, a quick ratio of 1.10 and a current ratio of 1.35. Tourmaline Oil has a 52-week low of C$6.73 and a 52-week high of C$18.38. The firm’s 50 day moving average is C$15.55 and its 200 day moving average is C$12.69.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$0.07 EPS for the quarter, topping the Zacks’ consensus estimate of C($0.04) by C$0.11. The firm had revenue of C$342.50 million for the quarter, compared to analysts’ expectations of C$386.00 million. Equities research analysts expect that Tourmaline Oil will post 1.39 EPS for the current fiscal year.

In other Tourmaline Oil news, Senior Officer Earl Henry Mckinnon acquired 2,500 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were purchased at an average cost of C$12.01 per share, with a total value of C$30,017.00. Following the purchase, the insider now owns 58,531 shares in the company, valued at C$702,770.01. Also, Senior Officer Mike Rose purchased 5,000 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were purchased at an average cost of C$16.57 per share, for a total transaction of C$82,856.00. Following the completion of the purchase, the insider now directly owns 8,651,337 shares in the company, valued at C$143,363,035.69. Over the last three months, insiders purchased 37,500 shares of company stock worth $538,999.

About Tourmaline Oil

Tourmaline Oil Corp., together with its subsidiaries, engages in the acquisition, exploration, development, and production of oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, NEBC Montney, and the Peace River High Triassic oil complex.

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