Tourmaline Oil Corp. (OTCMKTS:TRMLF) Short Interest Down 37.7% in April

Tourmaline Oil Corp. (OTCMKTS:TRMLF) was the recipient of a large drop in short interest in April. As of April 15th, there was short interest totalling 9,575,800 shares, a drop of 37.7% from the March 31st total of 15,358,700 shares. Approximately 2.6% of the shares of the stock are short sold. Based on an average trading volume of 120,600 shares, the short-interest ratio is presently 79.4 days.

Analysts Set New Price Targets

TRMLF has been the topic of several recent research reports. Raymond James upgraded Tourmaline Oil to a “moderate buy” rating in a research report on Monday, April 7th. Desjardins lowered shares of Tourmaline Oil from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 18th. Morgan Stanley reiterated a “cautious” rating on shares of Tourmaline Oil in a research note on Wednesday, March 26th. Finally, Cormark upgraded shares of Tourmaline Oil to a “moderate buy” rating in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tourmaline Oil has an average rating of “Hold”.

Tourmaline Oil Stock Performance

Shares of OTCMKTS TRMLF opened at $45.27 on Tuesday. The firm’s 50-day moving average price is $45.55 and its 200-day moving average price is $45.92. 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 company has a market cap of $16.95 billion, a PE ratio of 13.97, a PEG ratio of 0.83 and a beta of -0.59. Tourmaline Oil has a 52-week low of $36.93 and a 52-week high of $51.15.

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

Tourmaline Oil Increases Dividend

The firm also recently disclosed a dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.3504 dividend. 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 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.