Tourmaline Oil (OTCMKTS:TRMLF) Sets New 12-Month Low – Here’s What Happened

Tourmaline Oil Corp. (OTCMKTS:TRMLF)’s share price hit a new 52-week low during trading on Monday. The stock traded as low as $40.04 and last traded at $43.44, with a volume of 1362 shares changing hands. The stock had previously closed at $43.44.

Wall Street Analyst Weigh In

TRMLF has been the subject of a number of research reports. Zacks Research raised shares of Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Scotiabank reiterated an “outperform” rating on shares of Tourmaline Oil in a research note on Friday, July 17th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Tourmaline Oil in a research report on Friday, July 10th. Finally, Desjardins raised shares of Tourmaline Oil to a “hold” rating in a research report on Thursday, July 16th. One equities 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $65.00.

Tourmaline Oil Price Performance

The stock has a market capitalization of $16.77 billion, a price-to-earnings ratio of 59.94 and a beta of -0.24. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $44.36 and a 200 day moving average price of $45.34.

Institutional Investors Weigh In On Tourmaline Oil

An institutional investor recently bought a new position 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 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,959 shares of the company’s stock, valued at approximately $1,127,000. Institutional investors and hedge funds own 1.76% of the company’s stock.

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.