Tourmaline Oil Gets a Buy Rating from CIBC

By Ryan Adsit

The Materials sector company, Tourmaline Oil (TSX: TOU), has received a rating update from a Wall Street analyst yesterday. Analyst David Popowich from CIBC rated Tourmaline Oil (TSX: TOU) a Buy, setting a C$30 price target.

Popowich has an average return of 18.4% when recommending Tourmaline Oil.

According to TipRanks.com, Popowich is ranked #1538 out of 4801 analysts.

Tourmaline Oil has an analyst consensus of Moderate Buy, with a price target consensus of C$27.33.

The company has a one-year high of C$28.74 and a one-year low of C$17.78. Currently, Tourmaline Oil has an average volume of 879.6K.

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$25.41.