Tourmaline Oil (OTCMKTS:TRMLF) Cut to “Hold” at Canaccord Genuity Group

Canaccord Genuity Group lowered shares of Tourmaline Oil (OTCMKTS:TRMLF) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Zacks Research raised shares of Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 18th. ATB Cormark Capital Markets lowered shares of Tourmaline Oil from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, March 5th. BMO Capital Markets lowered shares of Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a research note on Thursday. 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, three have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $65.00.

Tourmaline Oil Trading Up 0.1%

Shares of OTCMKTS:TRMLF opened at $47.69 on Thursday. The firm has a fifty day moving average of $46.85 and a two-hundred day moving average of $45.35. The firm has a market capitalization of $18.51 billion, a P/E ratio of 35.07 and a beta of -0.24. Tourmaline Oil has a 12-month low of $40.01 and a 12-month high of $51.20. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.07.

Tourmaline Oil (OTCMKTS:TRMLF) last issued its earnings results on Wednesday, May 6th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.61. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. Tourmaline Oil had a net margin of 10.27% and a return on equity of 10.46%. On average, equities analysts expect that Tourmaline Oil will post 2.61 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.