Tourmaline Oil (OTCMKTS:TRMLF) Posts Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Tourmaline Oil (OTCMKTS:TRMLF) released its quarterly earnings results on Wednesday. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.09), Zacks reports. Tourmaline Oil had a net margin of 10.27% and a return on equity of 10.46%.

Tourmaline Oil Stock Performance

Shares of OTCMKTS TRMLF traded up $1.15 during trading on Wednesday, hitting $45.82. The company had a trading volume of 158,211 shares, compared to its average volume of 236,141. Tourmaline Oil has a 12 month low of $40.01 and a 12 month high of $51.20. 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 market capitalization of $17.80 billion, a P/E ratio of 33.69 and a beta of -0.22. The stock has a 50 day simple moving average of $44.48 and a 200 day simple moving average of $45.68.

Analyst Upgrades and Downgrades

TRMLF has been the topic of a number of research reports. Canaccord Genuity Group downgraded shares of Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Tourmaline Oil in a research report on Friday, July 10th. BMO Capital Markets cut shares of Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, May 7th. Desjardins upgraded shares of Tourmaline Oil to a “hold” rating in a research note on Thursday, July 16th. Finally, Scotiabank reissued an “outperform” rating on shares of Tourmaline Oil in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $65.00.

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.