Tourmaline Oil (OTCMKTS:TRMLF) Trading Up 3.1% – Should You Buy?

Shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF) traded up 3.1% during trading on Wednesday . The stock traded as high as $43.94 and last traded at $43.94. 8,207 shares traded hands during trading, a decline of 96% from the average session volume of 224,060 shares. The stock had previously closed at $42.60.

Analysts Set New Price Targets

TRMLF has been the topic of a number of recent analyst reports. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Tourmaline Oil in a report on Friday, July 10th. Desjardins upgraded Tourmaline Oil to a “hold” rating in a research report on Thursday, July 16th. Scotiabank reaffirmed an “outperform” rating on shares of Tourmaline Oil in a research note on Friday, July 17th. Finally, Zacks Research raised Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Tourmaline Oil currently has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Tourmaline Oil Stock Performance

The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $44.40 and a 200 day moving average price of $45.40. The firm has a market capitalization of $16.89 billion, a PE ratio of 60.37 and a beta of -0.24.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Tourmaline Oil stock. Kahn Brothers Group Inc. purchased a new position in shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 26,959 shares of the company’s stock, valued at approximately $1,127,000. 1.76% of the stock is owned by institutional investors.

Tourmaline Oil Company Profile

Tourmaline Oil Corp. is a Canadian energy company engaged in the exploration, development, production and marketing of natural gas, natural gas liquids and crude oil. The company focuses primarily on unconventional resource plays and operates an integrated portfolio of drilling, processing and infrastructure assets.

Tourmaline’s operations are concentrated in the Western Canadian Sedimentary Basin, particularly in the Alberta Deep Basin, Northeast British Columbia and the Alberta Montney.