Tourmaline Oil (TOU) Gets a Buy Rating from TD Securities


A Wall Street analyst has provided a review for the Materials company today, but retained the same rating on the stock. Analyst Aaron Bilkoski from TD Securities remains bullish on Tourmaline Oil (TOU) and has a C$29 price target.

According to TipRanks.com, Bilkoski is ranked 0 out of 5 stars with an average return of -15.5% and a 32.4% success rate. Bilkoski covers the Basic Materials sector, focusing on stocks such as Freehold Royalties Ltd, PrairieSky Royalty Ltd, and Pengrowth Energy Corp.

Currently, the analyst consensus on Tourmaline Oil is a Strong Buy with an average price target of C$26.21, implying a 41.8% upside from current levels. In a report issued on January 7, RBC Capital also reiterated a Buy rating on the stock with a C$24 price target.

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Based on Tourmaline Oil’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$55.3 million. In comparison, last year the company had a net profit of C$88.08 million.

Tourmaline Oil Corp. engages in the exploration, development, production of petroleum and natural gas properties. It acquires 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 Wednesday at C$18.48.

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