Tourmaline Oil Corp. (OTCMKTS:TRMLF) Receives $65.00 Consensus Target Price from Brokerages

Tourmaline Oil Corp. (OTCMKTS:TRMLF) has been given a consensus rating of “Hold” by the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $65.00.

A number of equities analysts have recently weighed in on the company. Desjardins raised Tourmaline Oil to a “hold” rating in a research note on Thursday, July 16th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Tourmaline Oil in a research note on Friday, July 10th. BMO Capital Markets lowered shares of Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a report on Thursday, May 7th. Canaccord Genuity Group cut shares of Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, Scotiabank reissued an “outperform” rating on shares of Tourmaline Oil in a report on Friday, July 17th.

Tourmaline Oil Stock Performance

Shares of OTCMKTS TRMLF opened at $44.87 on Friday. The firm has a fifty day moving average price of $43.51 and a 200-day moving average price of $45.56. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $17.44 billion, a PE ratio of 62.32 and a beta of -0.25. Tourmaline Oil has a 1 year low of $40.01 and a 1 year high of $51.20.

Institutional Trading of Tourmaline Oil

A hedge fund recently bought a new position in Tourmaline Oil stock. Kahn Brothers Group Inc. acquired a new stake in shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 26,959 shares of the company’s stock, valued at approximately $1,127,000. 1.76% of the stock is owned by institutional investors and hedge funds.

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.