Tourmaline Oil (OTCMKTS:TRMLF) Shares Gap Down – Here’s Why

Tourmaline Oil Corp. (OTCMKTS:TRMLF) shares gapped down prior to trading on Tuesday . The stock had previously closed at $45.50, but opened at $42.47. Tourmaline Oil shares last traded at $44.4570, with a volume of 29,534 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Zacks Research downgraded Tourmaline Oil from a “hold” rating to a “strong sell” rating in a research note on Monday, October 20th. Capital One Financial upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 27th. Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, October 29th. TD Securities lowered shares of Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 30th. Finally, The Goldman Sachs Group initiated coverage on shares of Tourmaline Oil in a report on Monday, October 13th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $65.00.

Tourmaline Oil Stock Performance

The company has a market capitalization of $17.20 billion, a P/E ratio of 17.70, a P/E/G ratio of 1.20 and a beta of -0.34. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.48 and a current ratio of 0.48. The business’s fifty day simple moving average is $44.20 and its 200-day simple moving average is $44.48.

Tourmaline Oil (OTCMKTS:TRMLF) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.11). Tourmaline Oil had a net margin of 21.15% and a return on equity of 8.27%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.20 billion. As a group, equities analysts anticipate that Tourmaline Oil Corp. will post 2.52 earnings per share for the current fiscal year.

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.