Tourmaline Oil (OTCMKTS:TRMLF) Shares Gap Up – Should You Buy?

Shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF) gapped up before the market opened on Monday . The stock had previously closed at $47.05, but opened at $50.28. Tourmaline Oil shares last traded at $46.31, with a volume of 2,773 shares.

Analyst Upgrades and Downgrades

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

Tourmaline Oil Price Performance

The business has a 50-day simple moving average of $46.71 and a 200 day simple moving average of $45.96. 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 cap of $17.94 billion, a P/E ratio of 33.97 and a beta of -0.28.

Tourmaline Oil (OTCMKTS:TRMLF) last posted its earnings results on Wednesday, May 6th. The company reported $1.23 earnings per share for the quarter, topping 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 firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. On average, analysts anticipate that Tourmaline Oil Corp. will post 3.42 earnings per share 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.