Analysts seem to be feeling optimistic about Tourmaline Oil (TOU) lately, as another research firm gave the stock a Buy rating today. Analyst Kurt Molnar from Raymond James rated Tourmaline Oil (TOU) a Buy, setting a C$29 price target.
According to TipRanks.com, Molnar is ranked 0 out of 5 stars with an average return of -22.7% and a 21.5% success rate. Molnar covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy 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$25.50 average price target, a 25.1% upside from current levels. In a report issued on February 13, AltaCorp Captial also reiterated a Buy rating on the stock with a C$28 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 Monday at C$20.38.
