Tourmaline Oil (OTCMKTS:TRMLF) Shares Gap Down – What’s Next?

Tourmaline Oil Corp. (OTCMKTS:TRMLF) gapped down before the market opened on Monday . The stock had previously closed at $45.47, but opened at $44.01. Tourmaline Oil shares last traded at $45.47, with a volume of 4,012 shares.

Wall Street Analyst Weigh In

TRMLF has been the topic of several recent analyst reports. Morgan Stanley reiterated a “cautious” rating on shares of Tourmaline Oil in a research report on Wednesday, March 26th. Raymond James Financial raised Tourmaline Oil to a “moderate buy” rating in a research note on Monday, April 7th. CIBC reaffirmed an “outperform” rating on shares of Tourmaline Oil in a research report on Tuesday, June 24th. Finally, Desjardins lowered Tourmaline Oil from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tourmaline Oil has an average rating of “Moderate Buy”.

Tourmaline Oil Trading Down 0.7%

The company’s fifty day simple moving average is $46.65 and its two-hundred day simple moving average is $46.31. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $17.47 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 0.63 and a beta of -0.32.

Tourmaline Oil (OTCMKTS:TRMLF) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.68). The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.80 billion. Tourmaline Oil had a net margin of 21.16% and a return on equity of 8.30%. Research analysts forecast that Tourmaline Oil Corp. will post 2.52 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The company also recently announced a dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were given a $0.3598 dividend. The ex-dividend date was Monday, June 16th. This is a boost from Tourmaline Oil’s previous dividend of $0.25. This represents a dividend yield of 2.95%. Tourmaline Oil’s payout ratio is presently 60.08%.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.