Tourmaline Oil (TRMLF) Projected to Announce Earnings on Wednesday

Tourmaline Oil (OTCMKTS:TRMLF) is anticipated to announce its results after the market closes on Wednesday, November 4th. Analysts expect the company to announce earnings of $0.6090 per share and revenue of $1.02 billion for the quarter.

Tourmaline Oil Price Performance

Shares of TRMLF opened at $47.90 on Wednesday. Tourmaline Oil has a 1 year low of $40.04 and a 1 year high of $51.20. The firm has a fifty day moving average of $44.89 and a 200-day moving average of $45.33.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Zacks Research upgraded shares of Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. The Goldman Sachs Group downgraded Tourmaline Oil from a “buy” rating to a “sell” rating in a research report on Thursday, October 1st. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Tourmaline Oil in a report on Friday, July 10th. Desjardins raised Tourmaline Oil to a “hold” rating in a report on Thursday, July 16th. Finally, Scotiabank restated an “outperform” rating on shares of Tourmaline Oil in a research report on Monday, October 19th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $65.00.

Tourmaline Oil Company Profile

Tourmaline Oil Corp. is a Canadian natural gas and liquids producer focused on the exploration, development, and production of energy resources in the Western Canadian Sedimentary Basin. The company’s operations are concentrated in three core areas: the Alberta Deep Basin, the Northeast British Columbia Montney, and the Peace River area of Alberta.

Tourmaline’s product portfolio includes natural gas, condensate, natural gas liquids, and crude oil. Its activities span land acquisition, drilling, well completion, production, processing, and infrastructure development, with an emphasis on developing large-scale, low-cost resource plays and delivering natural gas to Canadian and export markets.

Founded in 2008, Tourmaline has grown through exploration, development, and strategic acquisitions into one of Canada’s prominent natural gas producers.