Short Interest in Tourmaline Oil Corp. (OTCMKTS:TRMLF) Declines By 48.1%

Tourmaline Oil Corp. (OTCMKTS:TRMLF) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 15,358,700 shares, a decline of 48.1% from the March 15th total of 29,587,500 shares. Based on an average daily volume of 42,100 shares, the short-interest ratio is presently 364.8 days. Currently, 4.1% of the company’s shares are sold short.

Tourmaline Oil Price Performance

TRMLF stock opened at $45.52 on Friday. The business’s 50-day moving average is $45.95 and its two-hundred day moving average is $46.06. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $17.05 billion, a P/E ratio of 14.05, a P/E/G ratio of 0.83 and a beta of -0.59. Tourmaline Oil has a 1 year low of $36.93 and a 1 year high of $51.15.

Tourmaline Oil (OTCMKTS:TRMLF) last issued its earnings results on Wednesday, March 5th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). Tourmaline Oil had a net margin of 27.12% and a return on equity of 11.06%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.59 billion. Analysts anticipate that Tourmaline Oil will post 2.52 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The company also recently announced a dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.3504 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a dividend yield of 3.14%. This is an increase from Tourmaline Oil’s previous dividend of $0.24. Tourmaline Oil’s payout ratio is presently 54.12%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TRMLF. Cormark upgraded shares of Tourmaline Oil to a “moderate buy” rating in a research report on Friday, March 7th. Desjardins cut Tourmaline Oil from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, March 18th. Raymond James raised Tourmaline Oil to a “moderate buy” rating in a research note on Monday, April 7th. Finally, Morgan Stanley reissued a “cautious” rating on shares of Tourmaline Oil in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.