Zacks Research Upgrades Tourmaline Oil (OTCMKTS:TRMLF) to Hold

Tourmaline Oil (OTCMKTS:TRMLF) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

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

Tourmaline Oil Price Performance

TRMLF opened at $44.87 on Tuesday. Tourmaline Oil has a fifty-two week low of $40.01 and a fifty-two week high of $51.20. The firm has a 50-day moving average of $43.51 and a 200 day moving average of $45.56. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $17.44 billion, a P/E ratio of 62.32 and a beta of -0.25.

Institutional Trading of Tourmaline Oil

A hedge fund recently bought a new stake in Tourmaline Oil stock. Kahn Brothers Group Inc. acquired a new position in shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 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.

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.