Tourmaline Oil (OTCMKTS:TRMLF) Releases Quarterly Earnings Results, Beats Estimates By $0.56 EPS

Tourmaline Oil (OTCMKTS:TRMLF) announced its earnings results on Wednesday. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.56, Zacks reports. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.02 billion. Tourmaline Oil had a net margin of 6.05% and a return on equity of 9.05%.

Tourmaline Oil Trading Down 1.0%

OTCMKTS TRMLF traded down $0.46 during mid-day trading on Thursday, hitting $44.66. The company’s stock had a trading volume of 442,368 shares, compared to its average volume of 231,850. Tourmaline Oil has a 52-week low of $40.04 and a 52-week high of $51.20. The stock’s fifty day simple moving average is $45.28 and its two-hundred day simple moving average is $45.49. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $17.34 billion, a P/E ratio of 62.03 and a beta of -0.29.

Analyst Ratings Changes

TRMLF has been the subject of several analyst reports. The Goldman Sachs Group downgraded Tourmaline Oil from a “buy” rating to a “sell” rating in a report on Thursday, October 1st. Desjardins raised Tourmaline Oil to a “hold” rating in a research report on Thursday, July 16th. Scotiabank reiterated an “outperform” rating on shares of Tourmaline Oil in a research note on Monday, October 19th. Zacks Research upgraded Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Tourmaline Oil in a research report on Friday, July 10th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Tourmaline Oil presently has an average rating of “Hold” and a consensus target price of $65.00.

Tourmaline Oil Company Profile

Tourmaline Oil Corp. is a Canadian natural gas and liquids producer focused on the exploration, development, and production of energy resources in the Western Canadian Sedimentary Basin. The company’s operations are concentrated in three core areas: the Alberta Deep Basin, the Northeast British Columbia Montney, and the Peace River area of Alberta.

Tourmaline’s product portfolio includes natural gas, condensate, natural gas liquids, and crude oil. Its activities span land acquisition, drilling, well completion, production, processing, and infrastructure development, with an emphasis on developing large-scale, low-cost resource plays and delivering natural gas to Canadian and export markets.

Founded in 2008, Tourmaline has grown through exploration, development, and strategic acquisitions into one of Canada’s prominent natural gas producers.