Tourmaline Oil Corp reported quarterly adjusted earnings of C$1.10 per share for the quarter ended in September. The mean expectation of three analysts for the quarter was for earnings of 95 cents per share.
Revenue rose 121.5% to C$1.24 billion from a year ago. The mean earnings estimate of analysts had risen by about 5.9% in the last three months. In the last 30 days there have been no negative revisions of earnings estimates. Tourmaline Oil Corp shares had risen by 2.6% this quarter and gained 169.1% so far this year.
The company reported quarterly net income of C$361.06 million. Wall Street’s median 12-month price target for Tourmaline Oil Corp is C$60.00. The current average analyst rating on the shares is “buy” and the breakdown of recommendations is 15 “strong buy” or “buy,” no “hold” and no “sell” or “strong sell.”