Tourmaline Oil (OTCMKTS:TRMLF) Announces Earnings Results

Tourmaline Oil (OTCMKTS:TRMLF) announced its earnings results on Wednesday. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.09), Zacks reports. Tourmaline Oil had a return on equity of 10.46% and a net margin of 10.27%.

Tourmaline Oil Stock Up 2.6%

Shares of TRMLF traded up $1.15 during trading hours on Wednesday, reaching $45.82. The company’s stock had a trading volume of 158,211 shares, compared to its average volume of 236,141. The company has a 50 day moving average of $44.54 and a two-hundred day moving average of $45.65. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.06. The firm has a market cap of $17.80 billion, a price-to-earnings ratio of 33.69 and a beta of -0.22. Tourmaline Oil has a 1-year low of $40.01 and a 1-year high of $51.20.

Analyst Ratings Changes

TRMLF has been the topic of a number of recent analyst reports. Scotiabank restated an “outperform” rating on shares of Tourmaline Oil in a report on Friday, July 17th. BMO Capital Markets lowered shares of Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, May 7th. Zacks Research cut shares of Tourmaline Oil from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Canaccord Genuity Group downgraded shares of Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Finally, Desjardins upgraded Tourmaline Oil to a “hold” rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $65.00.

Tourmaline Oil Company Profile

Tourmaline Oil is a Canadian energy company engaged principally in the exploration, development and production of natural gas, natural gas liquids (NGLs) and oil. The company focuses on upstream activities across multiple resource plays, targeting conventional and unconventional reservoirs with the aim of delivering stable production and reserves growth. In addition to well drilling and completion, Tourmaline develops associated surface facilities and infrastructure needed to gather, process and market its production.

Production from Tourmaline is weighted toward natural gas and associated liquids, and the company emphasizes operational efficiency and capital discipline in its development programs.