Desjardins Thinks Tourmaline Oil’s Stock is Going to Recover

By Carrie Williams

Wall Street analyst has provided a review for the Materials company yesterday, but retained the same rating on the stock. Analyst Kristopher Zack from Desjardins remains bullish on Tourmaline Oil (TSX: TOU) and has a C$37 price target.

According to TipRanks.com, Zack is ranked #4420 out of 4569 analysts.

Tourmaline Oil has an analyst consensus of Strong Buy, with a price target consensus of C$39.71.

Based on Tourmaline Oil’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$421 million and quarterly net profit of C$99.53 million. In comparison, last year the company earned revenue of C$227 million and had a GAAP net loss of C$38.39 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 last Tuesday at $27.11, close to its 52-week low of $25.79.