Tourmaline Oil (OTCMKTS:TRMLF) Shares Gap Down – Time to Sell?

Shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF) gapped down before the market opened on Friday . The stock had previously closed at $43.23, but opened at $41.3201. Tourmaline Oil shares last traded at $43.16, with a volume of 1,950 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Zacks Research upgraded shares of Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research report on Friday, June 26th. Canaccord Genuity Group cut Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Finally, BMO Capital Markets downgraded Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $65.00.

Tourmaline Oil Price Performance

The stock has a market cap of $16.58 billion, a PE ratio of 31.40 and a beta of -0.22. The business’s 50-day simple moving average is $45.58 and its 200-day simple moving average is $45.63. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.06.

Tourmaline Oil (OTCMKTS:TRMLF) last posted its earnings results on Wednesday, May 6th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.61. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. Tourmaline Oil had a net margin of 10.27% and a return on equity of 10.46%. On average, research analysts expect that Tourmaline Oil Corp. will post 2.83 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.