Tourmaline Oil (OTCMKTS:TRMLF) Upgraded by Scotiabank to Strong-Buy Rating

Scotiabank upgraded shares of Tourmaline Oil (OTCMKTS:TRMLF) to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Other research analysts also recently issued reports about the stock. ATB Cormark Capital Markets downgraded shares of Tourmaline Oil from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. Zacks Research upgraded Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Finally, Roth Mkm assumed coverage on Tourmaline Oil in a report on Friday, December 19th. They issued a “neutral” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.00.

Tourmaline Oil Trading Down 3.9%

Shares of Tourmaline Oil stock opened at $45.92 on Wednesday. The firm has a market capitalization of $17.78 billion, a PE ratio of 88.31, a price-to-earnings-growth ratio of 4.63 and a beta of -0.31. 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’s 50 day moving average is $46.92 and its 200 day moving average is $45.08. Tourmaline Oil has a 1 year low of $38.85 and a 1 year high of $51.20.

Tourmaline Oil (OTCMKTS:TRMLF) last released its quarterly earnings data on Wednesday, March 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.14 billion. Equities research analysts forecast that Tourmaline Oil 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.