Tourmaline Oil Corp. (OTCMKTS:TRMLF) Short Interest Update

Tourmaline Oil Corp. (OTCMKTS:TRMLF) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 15,358,700 shares, a decline of 48.1% from the March 15th total of 29,587,500 shares. Based on an average trading volume of 42,100 shares, the days-to-cover ratio is presently 364.8 days. Currently, 4.1% of the company’s stock are sold short.

Analyst Ratings Changes

Several brokerages have recently commented on TRMLF. Desjardins downgraded shares of Tourmaline Oil from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 18th. Raymond James upgraded shares of Tourmaline Oil to a “moderate buy” rating in a research note on Monday, April 7th. Cormark upgraded Tourmaline Oil to a “moderate buy” rating in a research note on Friday, March 7th. Finally, Morgan Stanley reaffirmed a “cautious” rating on shares of Tourmaline Oil in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Tourmaline Oil Stock Performance

TRMLF traded down $0.01 during trading on Wednesday, hitting $43.74. 21,221 shares of the company traded hands, compared to its average volume of 76,123. Tourmaline Oil has a one year low of $36.93 and a one year high of $51.15. The stock’s fifty day moving average is $46.06 and its 200 day moving average is $46.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The firm has a market cap of $16.38 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 0.83 and a beta of -0.59.

Tourmaline Oil (OTCMKTS:TRMLF) last released its earnings results on Wednesday, March 5th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.59 billion. Tourmaline Oil had a net margin of 27.12% and a return on equity of 11.06%. As a group, equities analysts predict that Tourmaline Oil will post 2.52 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The company also recently declared a dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.3504 per share. This represents a dividend yield of 3.14%. The ex-dividend date was Friday, March 14th. This is a boost from Tourmaline Oil’s previous dividend of $0.24. Tourmaline Oil’s dividend payout ratio is currently 54.12%.

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.