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

Tourmaline Oil Corp. (OTCMKTS:TRMLF) gapped up prior to trading on Thursday . The stock had previously closed at $42.60, but opened at $44.00. Tourmaline Oil shares last traded at $43.58, with a volume of 2,381 shares trading hands.

Wall Street Analyst Weigh In

TRMLF has been the topic of a number of recent research reports. Scotiabank reaffirmed an “outperform” rating on shares of Tourmaline Oil in a research note on Friday, July 17th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Tourmaline Oil in a research note on Friday, July 10th. Desjardins raised Tourmaline Oil to a “hold” rating in a research note on Thursday, July 16th. Finally, Zacks Research raised Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Tourmaline Oil Stock Up 0.1%

The company has a market cap of $16.89 billion, a P/E ratio of 60.35 and a beta of -0.24. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a 50-day moving average of $44.39 and a 200 day moving average of $45.39.

Institutional Trading of Tourmaline Oil

A hedge fund recently bought a new position in Tourmaline Oil stock. Kahn Brothers Group Inc. acquired a new stake in Tourmaline Oil Corp. (OTCMKTS:TRMLF) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 26,959 shares of the company’s stock, valued at approximately $1,127,000. 1.76% of the stock is currently owned by institutional investors.

About Tourmaline Oil

Tourmaline Oil Corp. is a Canadian energy company engaged in the exploration, development, production and marketing of natural gas, natural gas liquids and crude oil. The company focuses primarily on unconventional resource plays and operates an integrated portfolio of drilling, processing and infrastructure assets.

Tourmaline’s operations are concentrated in the Western Canadian Sedimentary Basin, particularly in the Alberta Deep Basin, Northeast British Columbia and the Alberta Montney.