Tourmaline Oil (OTCMKTS:TRMLF – Get Free Report) issued its earnings results on Wednesday. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.56, Zacks reports. Tourmaline Oil had a return on equity of 11.95% and a net margin of 12.12%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.02 billion.
Tourmaline Oil Stock Performance
TRMLF traded down $0.42 on Friday, hitting $43.99. The company’s stock had a trading volume of 5,796 shares, compared to its average volume of 230,847. The company’s 50 day simple moving average is $45.27 and its 200-day simple moving average is $45.50. The firm has a market cap of $17.05 billion, a P/E ratio of 28.75 and a beta of -0.29. Tourmaline Oil has a 12 month low of $40.04 and a 12 month high of $51.20. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.04.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on TRMLF. Desjardins upgraded Tourmaline Oil to a “hold” rating in a research note on Thursday, July 16th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Tourmaline Oil in a research report on Friday, July 10th. Scotiabank reiterated an “outperform” rating on shares of Tourmaline Oil in a research note on Monday, October 19th. The Goldman Sachs Group lowered Tourmaline Oil from a “buy” rating to a “sell” rating in a report on Thursday, October 1st. Finally, Zacks Research raised Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Three investment 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’s stock. Based on data from MarketBeat.com, Tourmaline Oil presently has an average rating of “Hold” and an average price target of $65.00.
Read Our Latest Stock Report on TRMLF
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.
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