Tourmaline Oil (OTCMKTS:TRMLF) Shares Gap Down – Here’s What Happened

Tourmaline Oil Corp. (OTCMKTS:TRMLF) shares gapped down before the market opened on Monday . The stock had previously closed at $48.92, but opened at $46.17. Tourmaline Oil shares last traded at $47.85, with a volume of 7,073 shares.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Morgan Stanley set a $65.00 target price on shares of Tourmaline Oil in a report on Thursday, November 20th. ATB Cormark Capital Markets lowered shares of Tourmaline Oil from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, March 5th. 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 started coverage on shares of Tourmaline Oil in a report on Friday, December 19th. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Tourmaline Oil Trading Up 0.1%

The company has a 50-day moving average price of $45.52 and a two-hundred day moving average price of $44.57. The stock has a market cap of $18.86 billion, a P/E ratio of 93.69, a P/E/G ratio of 5.61 and a beta of -0.31. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.06.

Tourmaline Oil (OTCMKTS:TRMLF) last posted its quarterly earnings data on Wednesday, March 4th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.35 by $0.24. Tourmaline Oil had a net margin of 4.13% and a return on equity of 7.67%. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.14 billion. On average, research analysts expect that Tourmaline Oil Corp. will post 2.52 EPS for the current fiscal year.

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.