Tourmaline Oil (OTCMKTS:TRMLF) Issues Earnings Results

Tourmaline Oil (OTCMKTS:TRMLF) released its quarterly earnings results on Wednesday. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.24, Zacks reports. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.14 billion. Tourmaline Oil had a net margin of 4.13% and a return on equity of 7.67%.

Tourmaline Oil Trading Up 3.0%

TRMLF traded up $1.36 on Friday, hitting $46.62. The company had a trading volume of 123,565 shares, compared to its average volume of 224,978. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.06. The firm has a market cap of $18.05 billion, a P/E ratio of 89.66, a PEG ratio of 1.69 and a beta of -0.31. The company’s fifty day moving average price is $44.99 and its 200 day moving average price is $44.19. Tourmaline Oil has a 1 year low of $38.85 and a 1 year high of $50.01.

Analyst Upgrades and Downgrades

TRMLF has been the topic of several recent research reports. Roth Mkm assumed coverage on shares of Tourmaline Oil in a research note on Friday, December 19th. They set a “neutral” rating on the stock. Zacks Research downgraded shares of Tourmaline Oil from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. Finally, Morgan Stanley set a $65.00 target price on Tourmaline Oil in a report on Thursday, November 20th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $65.00.

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.