Tourmaline Oil (OTCMKTS:TRMLF) Posts Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Tourmaline Oil (OTCMKTS:TRMLF) posted its quarterly earnings data on Wednesday. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.09), Zacks reports. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Tourmaline Oil had a return on equity of 10.46% and a net margin of 10.27%.

Tourmaline Oil Stock Up 2.6%

Shares of OTCMKTS:TRMLF opened at $45.82 on Thursday. The company has a market cap of $17.80 billion, a price-to-earnings ratio of 33.69 and a beta of -0.22. Tourmaline Oil has a 12 month low of $40.01 and a 12 month high of $51.20. 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 company has a 50-day moving average price of $44.48 and a 200 day moving average price of $45.68.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TRMLF shares. Desjardins upgraded shares of Tourmaline Oil to a “hold” rating in a research report on Thursday, July 16th. BMO Capital Markets cut shares of Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, May 7th. Scotiabank reiterated an “outperform” rating on shares of Tourmaline Oil in a report on Friday, July 17th. Canaccord Genuity Group cut shares of Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. Finally, Zacks Research lowered Tourmaline Oil from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $65.00.

Tourmaline Oil Company Profile

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.