Tourmaline Oil (OTCMKTS:TRMLF) Shares Down 1.6% – What’s Next?

Tourmaline Oil Corp. (OTCMKTS:TRMLF) fell 1.6% during mid-day trading on Monday . The company traded as low as $41.6522 and last traded at $41.72. 89,727 shares were traded during mid-day trading, a decline of 55% from the average session volume of 198,740 shares. The stock had previously closed at $42.40.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TRMLF. Canaccord Genuity Group lowered shares of Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Zacks Research raised Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 18th. ATB Cormark Capital Markets cut shares of Tourmaline Oil from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, March 5th. BMO Capital Markets downgraded shares of Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a report on Thursday, May 7th. Finally, Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, April 1st. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $65.00.

Tourmaline Oil Stock Performance

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 business’s 50-day moving average is $45.92 and its 200 day moving average is $45.77. The company has a market cap of $16.20 billion, a PE ratio of 30.68 and a beta of -0.28.

Tourmaline Oil (OTCMKTS:TRMLF) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.23 earnings per share (EPS) 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 predict that Tourmaline Oil Corp. will post 3.42 EPS 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.