Tourmaline Oil (OTCMKTS:TRMLF) Issues Quarterly Earnings Results

Tourmaline Oil (OTCMKTS:TRMLF) issued its quarterly earnings results on Wednesday. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $0.61 by $0.56, Zacks reports. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Tourmaline Oil had a net margin of 6.05% and a return on equity of 9.05%.

Tourmaline Oil Stock Down 1.0%

Tourmaline Oil stock traded down $0.46 during trading on Thursday, reaching $44.66. The stock had a trading volume of 442,368 shares, compared to its average volume of 229,901. Tourmaline Oil has a 52-week low of $40.04 and a 52-week high of $51.20. The business has a 50 day moving average price of $45.28 and a 200 day moving average price of $45.49. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.04. The stock has a market cap of $17.34 billion, a PE ratio of 62.03 and a beta of -0.29.

Wall Street Analyst Weigh In

TRMLF has been the topic of a number of recent research reports. Zacks Research raised Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Tourmaline Oil in a report on Friday, July 10th. The Goldman Sachs Group cut Tourmaline Oil from a “buy” rating to a “sell” rating in a research note on Thursday, October 1st. Scotiabank restated an “outperform” rating on shares of Tourmaline Oil in a report on Monday, October 19th. Finally, Desjardins raised Tourmaline Oil to a “hold” rating in a research report on Thursday, July 16th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $65.00.

About Tourmaline Oil

Tourmaline Oil Corp. is a Canadian natural gas and liquids producer focused on the exploration, development, and production of energy resources in the Western Canadian Sedimentary Basin. The company’s operations are concentrated in three core areas: the Alberta Deep Basin, the Northeast British Columbia Montney, and the Peace River area of Alberta.

Tourmaline’s product portfolio includes natural gas, condensate, natural gas liquids, and crude oil. Its activities span land acquisition, drilling, well completion, production, processing, and infrastructure development, with an emphasis on developing large-scale, low-cost resource plays and delivering natural gas to Canadian and export markets.

Founded in 2008, Tourmaline has grown through exploration, development, and strategic acquisitions into one of Canada’s prominent natural gas producers.