Tourmaline Oil (OTCMKTS:TRMLF) Shares Gap Up – Here’s Why

Tourmaline Oil Corp. (OTCMKTS:TRMLF)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $41.50, but opened at $43.00. Tourmaline Oil shares last traded at $43.0790, with a volume of 3,289 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have commented on TRMLF. Canaccord Genuity Group lowered shares of Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. BMO Capital Markets cut Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, May 7th. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a report on Friday, June 26th. Finally, Zacks Research upgraded Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Tourmaline Oil presently has a consensus rating of “Moderate Buy” and an average target price of $65.00.

Tourmaline Oil Trading Up 2.5%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.88 and a current ratio of 0.88. The business’s 50 day moving average price is $45.69 and its 200-day moving average price is $45.63. The firm has a market cap of $16.88 billion, a price-to-earnings ratio of 31.97 and a beta of -0.22.

Tourmaline Oil (OTCMKTS:TRMLF) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.61. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. Tourmaline Oil had a return on equity of 10.46% and a net margin of 10.27%. Equities analysts expect that Tourmaline Oil Corp. will post 3.05 EPS for the current 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.