TSE:TOU
Tourmaline Oil Corp (TOU.TO)
Financials 
Technical Analysis 
Jul 17, 2026, 12:00 amThis summary was created by AI, based on 64 opinions in the last 12 months.
Tourmaline Oil Corp (TOU) is recognized as Canada's largest natural gas producer, with strong management and a significant market position in the Montney region. While the stock has been somewhat range-bound recently, oscillating between $58 and $70, many analysts express optimism about its future potential, primarily driven by the ramp-up of LNG Canada and infrastructural investments that are expected to bolster cash flow in the long run. Experts highlight the company's good dividend yield and its ongoing efforts to enhance operational efficiency. Though some have noted the volatility in the energy market, particularly due to geopolitical factors like the US-Iran conflict, the consensus seems to favor TOU as a solid long-term investment given its strategic initiatives and assets. Concerns about short-term profitability and capex versus shareholder returns remain, but the outlook for natural gas demand and pricing appears constructive over the next few years.
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Premium contentWe reiterate Canada's largest natural gas producer as a TOP PICK. Alberta production is back online following an 11,000 bpd shut in due to wildfires. It trades at 1.6x book and supports a ROE of 32%. We recommend trailing up the stop (from $53) to $55, looking to achieve $80 -- upside potential of 30%. Yield 1.5%
(Analysts’ price target is $80.00)
Balance sheet and management are still exceptional. Over 2022, returned a lot to shareholders in terms of dividends, about a 10% yield including the special dividends. Great assets and discipline. He's positive on oil and nat gas. Best pick in the nat gas space.
Zachary Curry Don't buy now if you're looking for capital appreciation. It's discounting nat gas price meaningfully higher than current price, as it should because current price is not sustainable. Nat gas inventories are high and supply will grow this year. LNG capacity buildout is a catalyst for 2024/25, not for now.
Incredibly well run, great assets. He'd take a look around $45.
Apples and oranges comparison, fertilizer vs. natural gas. All NTR's commodities have rolled over, earnings disappointed, he sold. NTR is a good company, valuation not good, not the time to own.
Likes and owns TOU. Gushing cashflow. Special dividends on top of regular ones. Dividend increase. Biggest and best nat gas producer in Canada. Commodity producers are slaves to the one thing they can't control, but TOU breaks the mold based on strategic contracts. Inexpensive 9x earnings, financially very strong. He's a buyer here.
Brian Madden
Largest natural gas producer in the country. Key to the story is the management team. Fortuitously sold assets before pandemic to stockpile cash and acquire cheap assets. Shares down 30% from highs, in sympathy with price of gas. Profitable at $1.50 gas. High quality. Special dividends. Strong operating group. Buy for the long term.
Robert GillPremium contentTOU reported free cash flow of $2.7 billion in 2022 and it is expected to produce another $2.0 billion this year. It trades at 1.5x book and supports a 35% ROE. The company has reduced debt to its targeted levels and has announced at least 50% of surplus cash flow will be distributed to shareholders thru special dividends. 80% of its revenues come from natural gas prices, which have no where to go but higher as the year progresses. The company just announced a 5 year partnership to be involved in the the commissioning of 20 compressed natural gas stations in Western Canada. We recommend placing a stop loss at $53, looking to achieve $84 -- upside potential of 35%. Yield 1.4%
(Analysts’ price target is $84.14)Prefers this to VET. Likes natural gas in Canada, but don't hold a lot of these stocks, because things can change suddenly with these commodities. Remember 2014 when things change dramatically? Pays a good dividend that grows. He owns 10% in raw oil and gas producers, while 20-25% is too high. TOU is good, but he own Arc Resources.
He met with management last week in Toronto. They have 75 years of inventory which is not all booked yet. It is Canada's largest natural gas producer and fourth largest conventional liquid producer and owns most of its infrastructure. He anticipates special dividends of maybe 5% which could bring the total yield to around 9%. It is $20 below where it should be. Natural gas has a better outlook especially in 2025. Investors have switched from gas to oil but they will come back. Buy 14 Hold 0 Sell 0
(Analysts’ price target is $84.36)
Robert Lauzon
The oil and gas companies were the best performers in 2022 and are now the worst performers. Tourmaline is the fifth largest natural gas producer in North America and probably the largest in Canada, with some of the best assets. It has a superstar CEO who has built other companies successfully and is buying stock in the company. The question is can a company grow production per share and can it keep the cost of production low. Tourmaline can do both. Has a great balance sheet and is at a good valuation.
Natural gas prices weighing on the company.
Best in class operator.
Very strong management team.
Excellent prospects going forward.
Very strong asset base.
Very strong management team.
Cheap valuation.
5% production growth.
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It moves with the natural gas prices. It is very well managed, is a leader in its field in Canada, and is the best pick for a natural gas company. It is the first to lock in natural gas prices in Asia and can sell directly to U.S. customers. There has been very strong insider buying of $9 million, with $8 million coming from the CEO and 600 000 from the CFO. Only $350 000 worth of stock has been sold.