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

Tourmaline Oil Corp. (OTCMKTS:TRMLF)’s share price gapped up before the market opened on Monday . The stock had previously closed at $47.05, but opened at $50.28. Tourmaline Oil shares last traded at $46.31, with a volume of 2,773 shares traded.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. BMO Capital Markets cut Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a report on Thursday, May 7th. 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 upgraded Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Canaccord Genuity Group lowered Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Finally, Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, April 1st. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $65.00.

Tourmaline Oil Stock Performance

The company has a market capitalization of $17.94 billion, a PE ratio of 33.97 and a beta of -0.28. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $46.71 and a two-hundred day moving average price of $45.96.

Tourmaline Oil (OTCMKTS:TRMLF) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.61. Tourmaline Oil had a return on equity of 10.46% and a net margin of 10.27%.The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. Analysts predict that Tourmaline Oil Corp. will post 3.42 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.