Tourmaline Oil (TOU) Hits New 12-Month Low at $18.79

Tourmaline Oil Corp (TSE:TOU)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$18.79 and last traded at C$18.84, with a volume of 822557 shares changing hands. The stock had previously closed at C$19.72.

Several brokerages have recently issued reports on TOU. CIBC decreased their price objective on Tourmaline Oil from C$33.00 to C$30.00 in a research note on Tuesday, October 17th. National Bank Financial decreased their price objective on Tourmaline Oil from C$40.00 to C$37.50 and set an “outperform” rating for the company in a research note on Friday, October 13th. Raymond James Financial decreased their price objective on Tourmaline Oil from C$38.00 to C$30.00 and set an “outperform” rating for the company in a research note on Thursday, January 11th. Finally, TD Securities lifted their price objective on Tourmaline Oil from C$32.00 to C$34.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. Seven equities research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average target price of C$35.06.

The firm has a market cap of $4,980.00, a P/E ratio of 15.32 and a beta of -0.18.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings data on Wednesday, November 8th. The company reported C$0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.11 by C$0.08. The business had revenue of C$303.65 million during the quarter. Tourmaline Oil had a return on equity of 2.89% and a net margin of 12.22%.

In other Tourmaline Oil news, insider Mike Rose bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was purchased at an average price of C$21.42 per share, for a total transaction of C$107,100.00. In the last 90 days, insiders have purchased 23,000 shares of company stock valued at $514,090.

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Tourmaline Oil Company Profile

Tourmaline Oil Corp. is a Canada-based intermediate crude oil and natural gas exploration and production company. The Company is engaged in the acquisition, exploration, development and production of petroleum and natural gas properties. The Company is focused on exploration and acquisition program in the Western Canadian Sedimentary Basin.

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