Tourmaline Oil (OTCMKTS:TRMLF) Sees Unusually-High Trading Volume – Here’s What Happened

Tourmaline Oil Corp. (OTCMKTS:TRMLF) saw unusually-high trading volume on Monday . Approximately 355,289 shares changed hands during mid-day trading, an increase of 230% from the previous session’s volume of 107,674 shares.The stock last traded at $45.41 and had previously closed at $44.01.

Analysts Set New Price Targets

TRMLF has been the subject of several recent research reports. The Goldman Sachs Group assumed coverage on Tourmaline Oil in a research report on Monday, October 13th. They set a “buy” rating for the company. Zacks Research cut shares of Tourmaline Oil from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. Raymond James Financial cut shares of Tourmaline Oil from a “moderate buy” rating to a “hold” rating in a research note on Thursday, July 31st. Morgan Stanley set a $65.00 price target on shares of Tourmaline Oil in a report on Thursday, November 20th. Finally, TD Securities lowered shares of Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $65.00.

Tourmaline Oil Stock Up 0.3%

The company has a debt-to-equity ratio of 0.08, a current ratio of 0.67 and a quick ratio of 0.67. The business’s 50 day moving average price is $43.83 and its 200 day moving average price is $44.50. The firm has a market cap of $17.17 billion, a PE ratio of 17.68, a PEG ratio of 0.81 and a beta of -0.31.

Tourmaline Oil (OTCMKTS:TRMLF) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.11). Tourmaline Oil had a net margin of 21.15% and a return on equity of 8.58%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.20 billion. On average, equities research analysts expect that Tourmaline Oil Corp. will post 2.52 earnings per share for the current year.

Tourmaline Oil Increases Dividend

The firm also recently announced a dividend, which was paid on Monday, September 29th. Shareholders of record on Tuesday, September 16th were paid a dividend of $0.362 per share. This is a boost from Tourmaline Oil’s previous dividend of $0.25. The ex-dividend date of this dividend was Monday, September 15th. This represents a yield of 344.0%. Tourmaline Oil’s dividend payout ratio is presently 58.17%.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.