Tudor, Pickering, Holt on Thursday maintained its buy rating on the shares of Tourmaline Oil (TOU.TO) with a C$77.00 price target following first-quarter results from Canada's No.1 natural-gas producer.
"Anticipating relatively in-line performance today with better-than-expected capex more than offsetting a slight miss on cash flow, Q2 guidance bounding consensus, and flexibility reiterated regarding currently unchanged FY guidance. On Q1'25 results, C$963MM cash flow was in-line with our model but below consensus (TPHe/Street C$958MM/C$999MM; C$2.56/shr vs. TPHe/Street C$2.54/C$2.65), with stronger realizations and a slight beat on production (638mboepd vs. TPHe/Street 634/632) more than offsetting slighter higher expenses vs. TPHe. Elsewhere on ops, despite record-level activity, the company outperformed expectations on capex (which were already improved heading into the print), which totaled C$825MM vs. TPHe/Street C$884MM/C$880MM and drove a beat on FCF (C$138MM excl. A&D / C$149MM incl. A&D vs. TPHe/Street-implied C$74MM/C$119M)," analyst Jeoffrey Lambujon wrote.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 62.13, Change: -1.55, Percent Change: -2.43
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.