Tourmaline Oil Corp. (OTCMKTS:TRMLF – Get Free Report)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $41.50, but opened at $43.00. Tourmaline Oil shares last traded at $43.0790, with a volume of 3,289 shares changing hands.
Wall Street Analysts Forecast Growth
TRMLF has been the topic of several research analyst reports. Zacks Research raised Tourmaline Oil from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 18th. Canaccord Genuity Group lowered shares of Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. Finally, BMO Capital Markets cut Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $65.00.
Read Our Latest Stock Analysis on Tourmaline Oil
Tourmaline Oil Stock Up 2.5%
Tourmaline Oil (OTCMKTS:TRMLF – Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.61. Tourmaline Oil had a return on equity of 10.46% and a net margin of 10.27%.The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. As a group, equities analysts predict that Tourmaline Oil Corp. will post 3.05 EPS for the current year.
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.
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