Tourmaline Oil (OTCMKTS:TRMLF) Sets New 1-Year High – Still a Buy?

Tourmaline Oil Corp. (OTCMKTS:TRMLF)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $50.59 and last traded at $50.5870, with a volume of 59157 shares changing hands. The stock had previously closed at $48.87.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TRMLF shares. Morgan Stanley set a $65.00 price target on shares of Tourmaline Oil in a research report on Thursday, November 20th. ATB Cormark Capital Markets lowered Tourmaline Oil from a “strong-buy” rating to a “moderate buy” rating in a research report on Thursday, March 5th. Zacks Research downgraded shares of Tourmaline Oil from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 17th. Finally, Roth Mkm assumed coverage on shares of Tourmaline Oil in a research report on Friday, December 19th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Tourmaline Oil currently has a consensus rating of “Moderate Buy” and an average target price of $65.00.

Tourmaline Oil Stock Up 3.3%

The stock’s fifty day moving average price is $45.65 and its 200-day moving average price is $44.60. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $19.55 billion, a price-to-earnings ratio of 97.11, a P/E/G ratio of 5.62 and a beta of -0.31.

Tourmaline Oil (OTCMKTS:TRMLF) last released its earnings results on Wednesday, March 4th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.24. Tourmaline Oil had a net margin of 4.13% and a return on equity of 7.67%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.14 billion. On average, sell-side analysts predict that Tourmaline Oil Corp. will post 2.52 earnings per share for the current fiscal year.

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.