Tourmaline Oil (OTCMKTS:TRMLF) Shares Down 1.8% – Here’s What Happened

Tourmaline Oil Corp. (OTCMKTS:TRMLF)’s share price fell 1.8% during mid-day trading on Tuesday . The stock traded as low as $42.65 and last traded at $42.88. 128,625 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 151,068 shares. The stock had previously closed at $43.65.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Tourmaline Oil in a report on Monday, October 13th. They set a “buy” rating for the company. Zacks Research cut shares of Tourmaline Oil from a “hold” rating to a “strong sell” rating in a research report on Monday, October 20th. TD Securities downgraded shares of Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 30th. Capital One Financial raised Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 27th. Finally, Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Tourmaline Oil presently has an average rating of “Hold” and a consensus target price of $65.00.

Tourmaline Oil Trading Down 1.8%

The stock’s 50-day simple moving average is $44.47 and its 200-day simple moving average is $44.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.48 and a current ratio of 0.48. The firm has a market capitalization of $16.59 billion, a PE ratio of 17.08, a P/E/G ratio of 0.92 and a beta of -0.32.

Tourmaline Oil (OTCMKTS:TRMLF) last announced its earnings results on Wednesday, November 5th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.11). The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.20 billion. Tourmaline Oil had a net margin of 21.15% and a return on equity of 8.27%. As a group, sell-side analysts expect that Tourmaline Oil Corp. will post 2.52 EPS for the current fiscal year.

About Tourmaline Oil

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.