BMO Capital Reiterates Their Hold Rating on Tourmaline Oil

By Carrie Williams

Wall Street analyst has provided a rating update for the Materials sector company yesterday, while remaining neutral on the stock. Analyst Randy Ollenberger from BMO Capital rated Tourmaline Oil (TSX: TOU) a Hold, setting a C$24 price target.

According to, Ollenberger is a 2-star analyst with an average return of 0.8% and a 55.3% success rate. Ollenberger covers the Basic Materials sector, focusing on stocks such as Centennial Resource Development Inc, Sanchez Energy Corporation, and Spectra Energy Partners.

Tourmaline Oil has an analyst consensus of Strong Buy, with a price target consensus of C$30.17.

The company has a one-year high of C$32.06 and a one-year low of C$20.44. Currently, Tourmaline Oil has an average volume of 779.2K.

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 Thursday at C$21.96, close to its 52-week low of C$20.44.