Capital One Financial Upgrades Tourmaline Oil (TSE:TOU) to Strong-Buy

Tourmaline Oil (TSE:TOU) was upgraded by research analysts at Capital One Financial to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. CIBC cut their target price on shares of Tourmaline Oil from C$74.00 to C$71.00 in a research note on Wednesday, October 15th. The Goldman Sachs Group upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 13th. ATB Capital increased their price objective on shares of Tourmaline Oil from C$76.00 to C$77.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Raymond James Financial lowered shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from C$76.00 to C$74.00 in a research note on Thursday, July 31st. Finally, TD Securities lowered shares of Tourmaline Oil from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$73.00 to C$68.00 in a research note on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$73.67.

Tourmaline Oil Stock Performance

Shares of Tourmaline Oil stock opened at C$61.22 on Monday. The firm has a market cap of C$23.68 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 1.72 and a beta of 0.35. The firm’s 50-day simple moving average is C$60.12 and its 200-day simple moving average is C$61.63. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01. Tourmaline Oil has a 1 year low of C$55.40 and a 1 year high of C$70.83.

Insider Activity

In other news, insider Mike Rose bought 10,000 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was purchased at an average price of C$60.42 per share, for a total transaction of C$604,200.00. Following the transaction, the insider owned 8,187,742 shares in the company, valued at approximately C$494,703,371.64. This trade represents a 0.12% increase in their ownership of the stock. Also, Director Christopher Lee bought 17,000 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was purchased at an average price of C$58.30 per share, with a total value of C$991,045.60. Following the transaction, the director owned 17,000 shares in the company, valued at C$991,045.60. The trade was a ∞ increase in their position. In the last 90 days, insiders acquired 37,305 shares of company stock valued at $2,210,556. 5.13% of the stock is owned by insiders.

About Tourmaline Oil

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.