In a report released yesterday, Chris MacCulloch from Desjardins maintained a Hold rating on Tourmaline Oil, with a price target of C$68.00. The company’s shares closed yesterday at C$62.49.TipRanks Welcomes a New ETF – NYSE:RANK TipRanks has entered a new arena in the investing world, powering the index of an ETF based on its unique data now trading under the ticker RANK on the NYSE. RANK tracks the performance of the TipRanks US Momentum Analysts Index, a rules-based index of 50 large U.S. companies.
MacCulloch covers the Energy sector, focusing on stocks such as Canadian Natural, Tourmaline Oil, and Cenovus Energy. According to TipRanks, MacCulloch has an average return of 25.5% and a 54.68% success rate on recommended stocks.
Currently, the analyst consensus on Tourmaline Oil is a Moderate Buy with an average price target of C$69.96.
Based on Tourmaline Oil’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$1.62 billion and a net profit of C$657.56 million. In comparison, last year the company earned a revenue of C$1.31 billion and had a net profit of C$212.68 million
Based on the recent corporate insider activity of 98 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TOU in relation to earlier this year.
