Tourmaline Oil (OTCMKTS:TRMLF) Stock Price Up 3.1% – Still a Buy?

Tourmaline Oil Corp. (OTCMKTS:TRMLF)’s share price traded up 3.1% on Wednesday. The company traded as high as $43.94 and last traded at $43.94. 8,207 shares changed hands during trading, a decline of 96% from the average session volume of 224,060 shares. The stock had previously closed at $42.60.

Analysts Set New Price Targets

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

Tourmaline Oil Trading Up 0.7%

The firm’s 50 day simple moving average is $44.38 and its two-hundred day simple moving average is $45.37. The stock has a market capitalization of $17.00 billion, a P/E ratio of 60.75 and a beta of -0.24. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.04.

Institutional Investors Weigh In On Tourmaline Oil

An institutional investor recently bought a new stake in Tourmaline Oil stock. Kahn Brothers Group Inc. purchased a new stake in Tourmaline Oil Corp. (OTCMKTS:TRMLF) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 26,959 shares of the company’s stock, valued at approximately $1,127,000. Institutional investors and hedge funds own 1.76% of the company’s stock.

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.