Tourmaline Oil Receives a Hold from BMO Capital

By Jason Carr

On March 12, an analyst has provided a rating update for the Materials sector company, Tourmaline Oil (TSX: TOU). Analyst Randy Ollenberger from BMO Capital remains neutral on the stock and has a C$22 price target.

According to TipRanks.com, Ollenberger is ranked 0 out of 5 stars with an average return of -3.7% and a 43.8% 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$27.10.

Based on Tourmaline Oil’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of C$434 million and quarterly net profit of C$88.08 million. In comparison, last year the company earned revenue of C$380 million and had a net profit of C$59.62 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 Wednesday at C$19.37, close to its 52-week low of C$17.78.