Tourmaline Oil Corp. (OTCMKTS:TRMLF) Receives $65.00 Consensus Target Price from Brokerages

Tourmaline Oil Corp. (OTCMKTS:TRMLF) has been given an average recommendation of “Hold” by the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $65.00.

Several equities research analysts recently issued reports on TRMLF shares. BMO Capital Markets lowered Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, May 7th. Scotiabank restated an “outperform” rating on shares of Tourmaline Oil in a research note on Friday, July 17th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Tourmaline Oil in a report on Friday, July 10th. Zacks Research lowered Tourmaline Oil from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Finally, Canaccord Genuity Group lowered shares of Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th.

Institutional Trading of Tourmaline Oil

A hedge fund recently bought a new position in Tourmaline Oil stock. Kahn Brothers Group Inc. bought a new position in Tourmaline Oil Corp. (OTCMKTS:TRMLF) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 26,959 shares of the company’s stock, valued at approximately $1,127,000. 1.76% of the stock is currently owned by institutional investors and hedge funds.

Tourmaline Oil Stock Down 0.7%

TRMLF opened at $44.89 on Friday. The company has a fifty day moving average price of $43.44 and a 200-day moving average price of $45.57. The firm has a market capitalization of $17.44 billion, a P/E ratio of 62.35 and a beta of -0.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.88 and a quick ratio of 0.88. Tourmaline Oil has a one year low of $40.01 and a one year high of $51.20.

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.