Tourmaline Oil (TSE:TOU) Stock Rating Lowered by The Goldman Sachs Group

Tourmaline Oil (TSE:TOU) was downgraded by stock analysts at The Goldman Sachs Group from a “strong-buy” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday, Zacks reports.

Other equities research analysts have also issued reports about the company. Jefferies Financial Group upped their price objective on Tourmaline Oil from C$72.00 to C$74.00 in a research note on Friday, July 24th. TD increased their price objective on Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. Desjardins set a C$68.00 price target on shares of Tourmaline Oil and gave the company a “hold” rating in a report on Friday, July 17th. Finally, Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research report on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Tourmaline Oil has a consensus rating of “Moderate Buy” and an average price target of C$70.60.

Tourmaline Oil Stock Performance

TOU opened at C$60.66 on Thursday. The stock’s 50 day simple moving average is C$61.61 and its 200-day simple moving average 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 cap of C$23.57 billion, a PE ratio of 65.93, a P/E/G ratio of 1.72 and a beta of -0.26. Tourmaline Oil has a 1 year low of C$57.95 and a 1 year high of C$70.57.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$0.47 earnings per share (EPS) for the quarter. Tourmaline Oil had a net margin of 6.50% and a return on equity of 2.37%. The company had revenue of C$1.50 billion during the quarter. Sell-side analysts forecast that Tourmaline Oil will post 5.6809091 EPS for the current year.

Insiders Place Their Bets

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

About Tourmaline Oil

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.