Tourmaline Oil (OTCMKTS:TRMLF) Trading Down 1.6% – Here’s Why

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

Analysts Set New Price Targets

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

Tourmaline Oil Price Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a fifty day moving average of $45.92 and a 200 day moving average of $45.77. The stock has a market cap of $16.20 billion, a price-to-earnings 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 for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.15 billion. On average, analysts expect that Tourmaline Oil Corp. will post 3.42 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.