Tourmaline Oil Corp (TOU.TO) Buy, Sell or Hold

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Tourmaline Oil Corp (TOU.TO)

59.56

+0.42 (0.71%)

as of Aug 6, 2026, 8:00:00 pm Market Open.

836 watching

Investor Insights

Aug 6, 2026, 12:00 am

This summary was created by AI, based on 61 opinions in the last 12 months.

Tourmaline Oil Corp (TOU), Canada's largest natural gas producer, is currently experiencing mixed reviews from analysts. While many highlight its strong management, solid fundamentals, and the strategic advantages from the LNG Canada project, concerns about capex spending and low prices for natural gas in Western Canada remain pertinent. Analysts express a cautious optimism, noting the potential for future price appreciation as LNG capacities ramp up. The stock has shown a consistent trading range, suggesting it may be a suitable buy at lower points within this range, but there is skepticism regarding near-term performance. The general sentiment reflects a waiting game as many investors anticipate stronger natural gas prices and believe that TOU will eventually benefit from long-term structural shifts in the energy market.

Consensus

Hold

Valuation

Fair Value

Similar

CNE, CNE

PAST TOP PICK

(A Top Pick Dec 19/19, Up 17%) This is one you can still own in the natural gas space. They will continue to consolidate. There might be some paper coming to the market. There has been some rotation out of natural gas with a warmer winter and it has put pressure on the share price.

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BUY

Natural gas prices have been--and will continue--to do well. Good balance sheet here and can issue more stock to buy weak competitors.

PAST TOP PICK

(A Top Pick Dec 19/19, Up 21%) He has reduced his position from 10% - 2% due to implosion of the natural gas pricing from the warm weather. They can use their strong balance sheet and Topaz, as an aggregator. He expects them to be aggressive as a consolidator.

TOP PICK

Earnings forecasts rocketing upwards. Trading at a nice discount to book value. Solid balance sheet. Nice solid value stock. Yield is 3.13%. (Analysts’ price target is $27.16)

BUY

It is doing very well. It as been a darling of the market. They are active and drilling 100 wells in the second half of this year and 225 next year. They have plans to increase revenues. There has been a lot of insider buying in this company.

COMMENT

Would prefer TOU over VET. The challenge is the stressed balance sheet for these energy providers. VET has some of the worst price momentum, value, volatility and earnings profile in terms of current return on equity. They can move quickly if they look like they will survive. If you are looking for a huge amount of leverage and upside for a recovery, you could own VET but TOU is the more stable choice.

TOP PICK

He likes it not just in energy but in comparison to all TSX stocks. Price momentum is good and valuation is not bad. The largest natural gas producer in Canada. Has one of the best management teams in the business. Will be one of the survivors and has acquired 2 companies recently. 3.8x enterprise value, 15% free cashflow yield. (Analysts’ price target is $27.16)

TOP PICK

Bullish on gas for the first time in years. Outlook for gas is very strong. An easy way to play growing demand. You have scale, good balance sheet, dividend payments. Valuation is good. 15% free cashflow at $50 oil. 90% upside is possible. (Analysts’ price target is $22.52)

PAST TOP PICK

(A Top Pick Jun 20/19, Down 26%) It's generating free cash flow and paying down debt. Buy this under $10 for the long term. This is the premier large gas company in Canada with a strong management team who will maximize shareholder value. Managers also own a lot of shares.

WAIT

They are the largest natural gas producer in North America. He is bearish on short term natural gas prices, so he would not be recommending it right now. He would rather own mid-cap oil companies right now.

TOP PICK

He likes it for the natural gas exposure. Payout ratio of 12%. Natural gas inventories are expected to be well below normal going into this winter, he expects. Yield 3.56% (Analysts’ price target is $19.45)

HOLD

Natural gas? He has 24% exposure to natural gas in his portfolio and this partially through TOU. Normally it is a weather call, but the associated gas production from rising oil drilling has been a negative impact of growing importance. If we see declines in drilling in oil, we should see natural gas associated production declining. He sees 2021 AECO prices over $2, and this is okay for producers.

COMMENT

Natrual gas prices? The 2021 strip price for AECO is over $2. That will work for strong balance sheet producers like TOU, NVA (60% natural gas), and ARX.

TOP PICK

The trophy name in Canada, the largest nat. gas producer. Their production of liquids is rising. They pay a 7.1% dividend yield. It's trading at its lowest valuation level ever. Great managers over the decades. They're generating free cash flow from their contracted gas, and with US revenues higher given the weaker Canadian dollar. He's been buying more shares recently.

SHORT

Capex has been cut across the board because of the Saudi oil shock. TOU has excellent assets run by fine operators, but because of this oil environment TOU is a small short for him. This is a relative call vs. companies with a strong balance sheet or better valuation. Price momentum and volatility are negatives. But this is getting really cheap at 3x EBITDA.

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Tourmaline Oil Corp (TOU.TO)