Tourmaline Oil (OTCMKTS:TRMLF) Issues Earnings Results

Tourmaline Oil (OTCMKTS:TRMLF) released its quarterly earnings results on Wednesday. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.56, Zacks reports. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Tourmaline Oil had a return on equity of 9.05% and a net margin of 6.05%.

Tourmaline Oil Stock Performance

TRMLF traded down $0.46 on Thursday, reaching $44.66. 442,368 shares of the stock were exchanged, compared to its average volume of 231,850. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.72. The company’s 50-day moving average price is $45.28 and its 200 day moving average price is $45.49. The firm has a market capitalization of $17.34 billion, a PE ratio of 62.03 and a beta of -0.29. Tourmaline Oil has a fifty-two week low of $40.04 and a fifty-two week high of $51.20.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Scotiabank restated an “outperform” rating on shares of Tourmaline Oil in a report on Monday, October 19th. Zacks Research upgraded shares of Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Desjardins raised shares of Tourmaline Oil to a “hold” rating in a research report on Thursday, July 16th. The Goldman Sachs Group lowered shares of Tourmaline Oil from a “buy” rating to a “sell” rating in a research note on Thursday, October 1st. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Tourmaline Oil in a research note on Friday, July 10th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $65.00.

Tourmaline Oil Company Profile

Tourmaline Oil Corp. is a Canadian natural gas and liquids producer focused on the exploration, development, and production of energy resources in the Western Canadian Sedimentary Basin. The company’s operations are concentrated in three core areas: the Alberta Deep Basin, the Northeast British Columbia Montney, and the Peace River area of Alberta.

Tourmaline’s product portfolio includes natural gas, condensate, natural gas liquids, and crude oil. Its activities span land acquisition, drilling, well completion, production, processing, and infrastructure development, with an emphasis on developing large-scale, low-cost resource plays and delivering natural gas to Canadian and export markets.

Founded in 2008, Tourmaline has grown through exploration, development, and strategic acquisitions into one of Canada’s prominent natural gas producers.