Tourmaline Oil (OTCMKTS:TRMLF) Shares Gap Up – Time to Buy?

Tourmaline Oil Corp. (OTCMKTS:TRMLF)’s stock price 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 changing hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on TRMLF shares. Desjardins raised shares of Tourmaline Oil to a “hold” rating in a research report on Thursday, July 16th. Zacks Research raised shares of Tourmaline Oil from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Scotiabank reaffirmed an “outperform” rating on shares of Tourmaline Oil in a research note on Friday, July 17th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Tourmaline Oil in a report on Friday, July 10th. One 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 MarketBeat, Tourmaline Oil currently has an average rating of “Moderate Buy” and a consensus price target of $65.00.

Tourmaline Oil Trading Down 0.7%

The business has a 50 day simple moving average of $44.36 and a two-hundred day simple moving average of $45.35. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.04. The stock has a market cap of $16.88 billion, a price-to-earnings ratio of 60.33 and a beta of -0.24.

Institutional Trading of Tourmaline Oil

An institutional investor recently bought a new stake in Tourmaline Oil stock. Kahn Brothers Group Inc. acquired a new stake in shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 26,959 shares of the company’s stock, valued at approximately $1,127,000. 1.76% of the stock is currently owned by hedge funds and other 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.