Tourmaline Oil (OTCMKTS:TRMLF) Reaches New 52-Week High on Analyst Upgrade

Tourmaline Oil Corp. (OTCMKTS:TRMLF) reached a new 52-week high on Thursday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock traded as high as $50.59 and last traded at $50.5870, with a volume of 59157 shares trading hands. The stock had previously closed at $48.87.

Several other research analysts have also issued reports on TRMLF. ATB Cormark Capital Markets lowered shares of Tourmaline Oil from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, March 5th. Morgan Stanley set a $65.00 target price on shares of Tourmaline Oil in a research note on Thursday, November 20th. Finally, Roth Mkm began coverage on Tourmaline Oil in a research report on Friday, December 19th. They set a “neutral” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Tourmaline Oil currently has an average 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 0.48 and a quick ratio of 0.48. The company’s 50-day moving average price is $45.97 and its 200-day moving average price is $44.70. The company has a market cap of $19.63 billion, a P/E ratio of 97.50, a P/E/G ratio of 5.81 and a beta of -0.31.

Tourmaline Oil (OTCMKTS:TRMLF) last issued its quarterly earnings results on Wednesday, March 4th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.35 by $0.24. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Tourmaline Oil had a net margin of 4.13% and a return on equity of 7.67%. As a group, sell-side analysts predict that Tourmaline Oil Corp. will post 2.52 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.