Raymond James Sticks to Its Buy Rating for Tourmaline Oil (TOU)


On April 11, an analyst has provided a rating update for Tourmaline Oil (TOU). Raymond James’ analyst Kurt Molnar reiterates their Buy rating on the shares, with a C$31 price target.

According to TipRanks.com, Molnar has 0 stars on 0-5 star ranking scale with an average return of -16.6% and a 29.1% success rate. Molnar covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, Birchcliff Energy Ltd, and NuVista Energy Ltd.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Tourmaline Oil with a C$26.71 average price target, representing a 23.9% upside. In a report issued on March 28, Industrial Alliance Securities also initiated coverage with a Buy rating on the stock with a C$29 price target.

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The company has a one-year high of C$26.19 and a one-year low of C$15.84. Currently, Tourmaline Oil has an average volume of 827K.

Tourmaline Oil Corp. engages in the acquisition, exploration, development, and production of petroleum and natural gas properties. It focuses on its program in the Western Canadian Sedimentary Basin. The company was founded on July 21, 2008 and is headquartered in Calgary, Canada.

The company’s shares closed on Tuesday at C$21.56.

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