Kahn Brothers Group Inc. Invests $1.13 Million in Tourmaline Oil Corp. $TRMLF

Kahn Brothers Group Inc. purchased a new stake in shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 26,959 shares of the company’s stock, valued at approximately $1,127,000.

Tourmaline Oil Price Performance

OTCMKTS TRMLF opened at $45.16 on Friday. Tourmaline Oil Corp. has a fifty-two week low of $40.01 and a fifty-two week high of $51.20. The stock’s 50-day moving average is $43.56 and its two-hundred day moving average is $45.55. The firm has a market cap of $17.55 billion, a P/E ratio of 62.72 and a beta of -0.25. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.88.

Analyst Ratings Changes

TRMLF has been the topic of a number of research reports. Zacks Research upgraded Tourmaline Oil from a “strong sell” rating to a “hold” rating in a report on Tuesday. Desjardins upgraded shares of Tourmaline Oil to a “hold” rating in a research note on Thursday, July 16th. Canaccord Genuity Group cut shares of Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Tourmaline Oil in a research report on Friday, July 10th. Finally, Scotiabank restated an “outperform” rating on shares of Tourmaline Oil in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.