Tourmaline Oil (OTCMKTS:TRMLF) Releases Earnings Results, Beats Estimates By $0.56 EPS

Tourmaline Oil (OTCMKTS:TRMLF) released its quarterly earnings results on Wednesday. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.56, Zacks reports. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Tourmaline Oil had a return on equity of 9.05% and a net margin of 6.05%.

Tourmaline Oil Trading Down 1.0%

Tourmaline Oil stock traded down $0.46 during midday trading on Thursday, reaching $44.66. 442,368 shares of the stock traded hands, compared to its average volume of 229,901. The company has a 50-day simple moving average of $45.28 and a two-hundred day simple moving average of $45.49. Tourmaline Oil has a 12-month low of $40.04 and a 12-month high of $51.20. The firm has a market cap of $17.34 billion, a PE ratio of 62.03 and a beta of -0.29. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.04.

Analyst Ratings Changes

A number of research firms have commented on TRMLF. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Tourmaline Oil in a research report on Friday, July 10th. Desjardins upgraded shares of Tourmaline Oil to a “hold” rating in a research report on Thursday, July 16th. Scotiabank reissued an “outperform” rating on shares of Tourmaline Oil in a research note on Monday, October 19th. The Goldman Sachs Group downgraded shares of Tourmaline Oil from a “buy” rating to a “sell” rating in a research note on Thursday, October 1st. Finally, Zacks Research upgraded shares of Tourmaline Oil from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.