Tourmaline Oil (TSE:TOU) Rating Increased to Strong-Buy at Scotiabank

Tourmaline Oil (TSE:TOU) was upgraded by equities researchers at Scotiabank to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

TOU has been the topic of a number of other research reports. Royal Bank Of Canada dropped their price target on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating on the stock in a research report on Friday, March 6th. Desjardins raised their target price on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Jefferies Financial Group cut their price target on shares of Tourmaline Oil from C$72.00 to C$70.00 in a research note on Tuesday, January 20th. Canadian Imperial Bank of Commerce lowered their price objective on shares of Tourmaline Oil from C$71.00 to C$66.00 in a research report on Tuesday, January 13th. Finally, Raymond James Financial boosted their price objective on shares of Tourmaline Oil from C$69.00 to C$72.00 in a research report on Thursday, March 5th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$71.22.

Tourmaline Oil Stock Down 4.2%

Shares of TSE:TOU opened at C$63.80 on Wednesday. The company has a 50 day moving average price of C$64.22 and a two-hundred day moving average price of C$62.34. The company has a debt-to-equity ratio of 12.25, a quick ratio of 0.47 and a current ratio of 0.83. The company has a market capitalization of C$24.70 billion, a PE ratio of 93.82, a PEG ratio of 1.72 and a beta of 0.00. Tourmaline Oil has a 52 week low of C$55.40 and a 52 week high of C$70.73.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings results on Wednesday, March 4th. The company reported C($1.72) earnings per share (EPS) for the quarter. Tourmaline Oil had a net margin of 5.03% and a return on equity of 1.65%. The firm had revenue of C$1.66 billion during the quarter. Analysts forecast that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Insider Activity

In other Tourmaline Oil news, insider Mike Rose purchased 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The shares were acquired at an average cost of C$68.50 per share, for a total transaction of C$171,250.00. Following the completion of the purchase, the insider owned 8,060,178 shares of the company’s stock, valued at approximately C$552,122,193. The trade was a 0.03% increase in their position. Insiders have bought a total of 15,000 shares of company stock valued at $940,150 over the last three months. 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.