Tourmaline Oil Corp. (OTCMKTS:TRMLF) Stock Has Average Target Price of $65.00

Shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF) have received an average recommendation of “Hold” from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $65.00.

Several research analysts have recently weighed in on TRMLF shares. The Goldman Sachs Group cut Tourmaline Oil from a “buy” rating to a “sell” rating in a report on Thursday, October 1st. Desjardins raised Tourmaline Oil to a “hold” rating in a report on Thursday, July 16th. Scotiabank reaffirmed an “outperform” rating on shares of Tourmaline Oil in a report 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, Zacks Research raised Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th.

Tourmaline Oil Stock Up 1.5%

Shares of OTCMKTS TRMLF opened at $45.87 on Friday. Tourmaline Oil has a 12-month low of $40.04 and a 12-month high of $51.20. The stock has a market cap of $17.81 billion, a PE ratio of 16.80 and a beta of -0.21. 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 company has a 50-day moving average of $44.11 and a 200 day moving average of $44.90.

Institutional Trading of Tourmaline Oil

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) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 26,959 shares of the company’s stock, valued at approximately $1,127,000. 1.76% of the stock is currently owned by institutional investors.

About Tourmaline Oil

Tourmaline Oil Corp. is a Canadian natural gas exploration and production company headquartered in Calgary, Alberta. The company focuses on the acquisition, development and operation of long-life, resource-rich properties in the Western Canadian Sedimentary Basin.

Tourmaline’s operations are concentrated in three core areas: the Alberta Deep Basin, northeast British Columbia and the Peace River region of Alberta. Its production portfolio includes natural gas, natural gas liquids, condensate and crude oil, supported by related gathering, processing, transportation and marketing infrastructure.

The company was established in 2008 and has grown through exploration, development and strategic acquisitions.