Tourmaline Oil (OTCMKTS:TRMLF) Stock Price Up 3.1% – Should You Buy?

Tourmaline Oil Corp. (OTCMKTS:TRMLF) was up 3.1% during trading on Wednesday . The company traded as high as $43.94 and last traded at $43.94. Approximately 8,207 shares traded hands during trading, a decline of 96% from the average daily volume of 224,060 shares. The stock had previously closed at $42.60.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TRMLF. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Tourmaline Oil in a report on Friday, July 10th. Desjardins upgraded 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. Finally, Zacks Research raised Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Tourmaline Oil Stock Up 2.0%

The company has a market capitalization of $16.89 billion, a P/E ratio of 60.37 and a beta of -0.24. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average is $44.40 and its 200 day moving average is $45.40.

Institutional Inflows and Outflows

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

Tourmaline Oil Company Profile

Tourmaline Oil Corp. is a Canadian energy company engaged in the exploration, development, production and marketing of natural gas, natural gas liquids and crude oil. The company focuses primarily on unconventional resource plays and operates an integrated portfolio of drilling, processing and infrastructure assets.

Tourmaline’s operations are concentrated in the Western Canadian Sedimentary Basin, particularly in the Alberta Deep Basin, Northeast British Columbia and the Alberta Montney.