Desjardins Upgrades Tourmaline Oil (OTCMKTS:TRMLF) to Hold

Tourmaline Oil (OTCMKTS:TRMLF) was upgraded by equities researchers at Desjardins to a “hold” rating in a report released on Thursday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Zacks Research raised shares of Tourmaline Oil from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 18th. 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 downgraded shares of Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a report on Thursday, May 7th. Canaccord Genuity Group downgraded shares of Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 7th. Finally, Scotiabank reiterated an “outperform” rating on shares of Tourmaline Oil in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $65.00.

Tourmaline Oil Stock Up 0.4%

OTCMKTS TRMLF opened at $44.56 on Thursday. Tourmaline Oil has a 52 week low of $40.01 and a 52 week high of $51.20. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $17.30 billion, a P/E ratio of 32.76 and a beta of -0.22. The stock’s 50-day moving average price is $45.02 and its 200-day moving average price is $45.59.

Tourmaline Oil (OTCMKTS:TRMLF) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.61. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. Tourmaline Oil had a return on equity of 10.46% and a net margin of 10.27%. On average, equities research analysts predict that Tourmaline Oil will post 2.83 earnings per share for the current year.

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.