Tourmaline Oil (OTCMKTS:TRMLF) Shares Cross Below 200 Day Moving Average – Time to Sell?

Tourmaline Oil Corp. (OTCMKTS:TRMLF)’s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $45.49 and traded as low as $44.98. Tourmaline Oil shares last traded at $45.1198, with a volume of 181,068 shares.

Wall Street Analyst Weigh In

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

Tourmaline Oil Stock Up 0.3%

The company has a 50-day moving average of $45.26 and a 200-day moving average of $45.51. The company has a market capitalization of $17.30 billion, a price-to-earnings ratio of 17.94 and a beta of -0.29. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.04.

Tourmaline Oil (OTCMKTS:TRMLF) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.56. Tourmaline Oil had a return on equity of 9.05% and a net margin of 6.05%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.02 billion. On average, equities analysts predict that Tourmaline Oil Corp. will post 2.73 earnings per share for the current fiscal year.

Institutional Trading of Tourmaline Oil

A hedge fund recently bought a new position in Tourmaline Oil stock. Kahn Brothers Group Inc. purchased a new position in Tourmaline Oil Corp. (OTCMKTS:TRMLF) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 26,959 shares of the company’s stock, valued at approximately $1,127,000. Hedge funds and other institutional investors own 1.76% of the company’s stock.

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.