Tourmaline Oil (OTCMKTS:TRMLF) Upgraded to Hold at Desjardins

Desjardins upgraded shares of Tourmaline Oil (OTCMKTS:TRMLF) to a hold rating in a report issued on Thursday morning,Zacks.com reports.

Several other research firms also recently commented on TRMLF. Scotiabank restated an “outperform” rating on shares of Tourmaline Oil in a research report on Friday. Canaccord Genuity Group cut shares of Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Tourmaline Oil in a report on Friday, July 10th. BMO Capital Markets lowered shares of Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, May 7th. Finally, Zacks Research raised shares of Tourmaline Oil from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $65.00.

Tourmaline Oil Trading Up 0.4%

Shares of TRMLF stock opened at $44.56 on Thursday. Tourmaline Oil has a 52-week low of $40.01 and a 52-week high of $51.20. The stock has a market cap of $17.30 billion, a price-to-earnings ratio of 32.76 and a beta of -0.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a fifty day moving average of $45.02 and a 200-day moving average of $45.59.

Tourmaline Oil (OTCMKTS:TRMLF) last released its quarterly earnings data on Wednesday, May 6th. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.61. Tourmaline Oil had a return on equity of 10.46% and a net margin of 10.27%.The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. On average, equities research analysts forecast that Tourmaline Oil will post 2.83 earnings per share for the current fiscal 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.