Tourmaline Oil (OTCMKTS:TRMLF) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Tourmaline Oil (OTCMKTS:TRMLF) from a strong sell rating to a hold rating in a research report report published on Tuesday morning,Zacks.com reports.

Other research analysts have also issued reports about the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Tourmaline Oil in a research note on Friday, July 10th. Canaccord Genuity Group downgraded shares of Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. BMO Capital Markets lowered Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a report on Thursday, May 7th. Scotiabank restated an “outperform” rating on shares of Tourmaline Oil in a research report on Friday, July 17th. Finally, Desjardins upgraded Tourmaline Oil to a “hold” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Tourmaline Oil presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Tourmaline Oil Stock Up 0.7%

TRMLF stock opened at $44.87 on Tuesday. The company has a fifty day moving average price of $43.51 and a 200 day moving average price of $45.56. Tourmaline Oil has a 12 month low of $40.01 and a 12 month high of $51.20. The company has a market cap of $17.44 billion, a price-to-earnings ratio of 62.32 and a beta of -0.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.88 and a quick ratio of 0.88.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Tourmaline Oil stock. Kahn Brothers Group Inc. purchased a new position in shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,959 shares of the company’s stock, valued at approximately $1,127,000. 1.76% of the stock is currently owned by institutional investors.

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.