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

Tourmaline Oil Corp. (OTCMKTS:TRMLF)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $50.59, but opened at $48.06. Tourmaline Oil shares last traded at $49.67, with a volume of 13,724 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TRMLF shares. Roth Mkm started coverage on shares of Tourmaline Oil in a research note on Friday, December 19th. They set a “neutral” rating on the stock. Zacks Research upgraded Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Finally, ATB Cormark Capital Markets lowered Tourmaline Oil from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, March 5th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Tourmaline Oil presently has an average rating of “Moderate Buy” and an average price target of $65.00.

Tourmaline Oil Trading Down 2.1%

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 firm’s 50-day simple moving average is $45.97 and its 200 day simple moving average is $44.74. The stock has a market capitalization of $19.17 billion, a P/E ratio of 95.23, a PEG ratio of 5.83 and a beta of -0.31.

Tourmaline Oil (OTCMKTS:TRMLF) last issued its quarterly 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 company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.14 billion. Equities research analysts anticipate 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.