Tourmaline Oil Corp. (OTCMKTS:TRMLF – Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $42.84, but opened at $45.24. Tourmaline Oil shares last traded at $43.74, with a volume of 6,270 shares changing hands.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on TRMLF shares. Zacks Research downgraded shares of Tourmaline Oil from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Tourmaline Oil in a research report on Friday, July 10th. BMO Capital Markets cut Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, May 7th. Canaccord Genuity Group downgraded Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, Scotiabank restated an “outperform” rating on shares of Tourmaline Oil in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $65.00.
Read Our Latest Report on TRMLF
Tourmaline Oil Stock Performance
Hedge Funds Weigh In On Tourmaline Oil
A hedge fund recently bought a new position in Tourmaline Oil stock. Kahn Brothers Group Inc. purchased a new position in shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 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 and hedge funds.
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.
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