Tourmaline Oil Gets a Buy Rating from RBC Capital

By Ryan Adsit

In a new note to investors yesterday, an analyst has provided a rating update for the Materials sector company, Tourmaline Oil (TSX: TOU). Analyst Michael Harvey from RBC Capital reiterated a Buy rating, with a C$40 price target.

According to TipRanks.com, Harvey is ranked #1390 out of 4567 analysts.

Currently, the analyst consensus on Tourmaline Oil is Strong Buy and the average price target is C$39.71, representing a 43.2% upside.

In a report issued on May 30, Desjardins also reiterated a Buy rating on the stock with a C$37 price target.

The company has a one year high of C$39.77 and a one year low of C$25.79. Currently, Tourmaline Oil has an average volume of 592.4K.

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 Monday at $27.74, close to its 52-week low of $25.79.