Tourmaline Oil (OTCMKTS:TRMLF) Releases Earnings Results, Beats Expectations By $0.24 EPS

Tourmaline Oil (OTCMKTS:TRMLF) announced its quarterly earnings data on Wednesday. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.24, Zacks reports. Tourmaline Oil had a return on equity of 7.67% and a net margin of 4.13%.The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.14 billion.

Tourmaline Oil Trading Up 3.0%

Tourmaline Oil stock traded up $1.36 during midday trading on Friday, reaching $46.62. The stock had a trading volume of 123,565 shares, compared to its average volume of 226,246. Tourmaline Oil has a twelve month low of $38.85 and a twelve month high of $50.01. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.48 and a quick ratio of 0.48. The firm has a market cap of $18.05 billion, a price-to-earnings ratio of 89.66, a PEG ratio of 1.69 and a beta of -0.31. The firm’s fifty day simple moving average is $44.99 and its two-hundred day simple moving average is $44.19.

Analyst Ratings Changes

Several brokerages have commented on TRMLF. Morgan Stanley set a $65.00 price target on shares of Tourmaline Oil in a research report on Thursday, November 20th. Zacks Research cut shares of Tourmaline Oil from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 17th. Finally, Roth Mkm assumed coverage on shares of Tourmaline Oil in a research note on Friday, December 19th. They set a “neutral” rating for the company. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $65.00.

Tourmaline Oil Company Profile

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.