Tourmaline Oil (OTCMKTS:TRMLF) Hits New 52-Week High – Time to Buy?

Tourmaline Oil Corp. (OTCMKTS:TRMLF)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $50.59 and last traded at $50.5870, with a volume of 59157 shares. The stock had previously closed at $48.87.

Analysts Set New Price Targets

A number of analysts have commented on TRMLF shares. Zacks Research cut shares of Tourmaline Oil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. Roth Mkm initiated coverage on shares of Tourmaline Oil in a research note on Friday, December 19th. They issued a “neutral” rating for the company. Morgan Stanley set a $65.00 price target on Tourmaline Oil in a research report on Thursday, November 20th. Finally, ATB Cormark Capital Markets cut Tourmaline Oil from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, March 5th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Tourmaline Oil Stock Performance

The firm has a market cap of $19.55 billion, a price-to-earnings ratio of 97.11, a price-to-earnings-growth ratio of 5.62 and a beta of -0.31. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average is $45.65 and its 200 day moving average is $44.60.

Tourmaline Oil (OTCMKTS:TRMLF) last issued its quarterly earnings data on Wednesday, March 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.24. Tourmaline Oil had a return on equity of 7.67% and a net margin of 4.13%.The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Analysts anticipate that Tourmaline Oil Corp. will post 2.52 earnings per share for the current year.

About Tourmaline Oil

Tourmaline Oil is a Canadian energy company engaged principally in the exploration, development and production of natural gas, natural gas liquids (NGLs) and oil. The company focuses on upstream activities across multiple resource plays, targeting conventional and unconventional reservoirs with the aim of delivering stable production and reserves growth. In addition to well drilling and completion, Tourmaline develops associated surface facilities and infrastructure needed to gather, process and market its production.

Production from Tourmaline is weighted toward natural gas and associated liquids, and the company emphasizes operational efficiency and capital discipline in its development programs.