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

Shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF) 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 trading hands.

Wall Street Analysts Forecast Growth

TRMLF has been the topic of several analyst reports. Zacks Research cut shares of Tourmaline Oil from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Desjardins raised shares of Tourmaline Oil to a “hold” rating in a research report on Thursday, July 16th. Scotiabank reissued an “outperform” rating on shares of Tourmaline Oil in a research note on Friday, July 17th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Tourmaline Oil in a research note on Friday, July 10th. Finally, BMO Capital Markets downgraded Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $65.00.

Tourmaline Oil Trading Up 1.1%

The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $17.00 billion, a price-to-earnings ratio of 60.75 and a beta of -0.25. The business has a 50 day simple moving average of $43.49 and a 200-day simple moving average of $45.63.

Institutional Investors Weigh In On Tourmaline Oil

An institutional investor recently bought a new position in Tourmaline Oil stock. Kahn Brothers Group Inc. bought a new stake in Tourmaline Oil Corp. (OTCMKTS:TRMLF) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 26,959 shares of the company’s stock, valued at approximately $1,127,000. Hedge funds and other institutional investors own 1.76% of the company’s stock.

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.