Tourmaline Oil (OTCMKTS:TRMLF) Shares Cross Below Two Hundred Day Moving Average – Time to Sell?

Tourmaline Oil Corp. (OTCMKTS:TRMLF) shares passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $45.49 and traded as low as $44.98. Tourmaline Oil shares last traded at $45.1198, with a volume of 181,068 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Desjardins upgraded shares of Tourmaline Oil to a “hold” rating in a research note on Thursday, July 16th. Scotiabank reiterated an “outperform” rating on shares of Tourmaline Oil in a research report on Monday, October 19th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Tourmaline Oil in a research note on Friday, July 10th. Zacks Research upgraded shares of Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Finally, 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. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $65.00.

Tourmaline Oil Trading Down 4.6%

The business has a 50 day simple moving average of $45.28 and a 200-day simple moving average of $45.49. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market capitalization of $17.52 billion, a P/E ratio of 62.67 and a beta of -0.29.

Institutional Trading of Tourmaline Oil

A hedge fund recently bought a new stake in Tourmaline Oil stock. Kahn Brothers Group Inc. acquired a new stake in 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 (SEC). The institutional investor acquired 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.

About Tourmaline Oil

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.