Tourmaline Oil (OTCMKTS:TRMLF) Shares Gap Down – What’s Next?

Tourmaline Oil Corp. (OTCMKTS:TRMLF) shares gapped down before the market opened on Tuesday . The stock had previously closed at $45.64, but opened at $44.00. Tourmaline Oil shares last traded at $45.7840, with a volume of 3,024 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TRMLF shares. Roth Mkm started coverage on Tourmaline Oil in a research note on Friday, December 19th. They set a “neutral” rating for the company. Capital One Financial upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research report on Monday, October 27th. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research report on Wednesday, October 29th. Morgan Stanley set a $65.00 price objective on Tourmaline Oil in a research report on Thursday, November 20th. Finally, The Goldman Sachs Group initiated coverage on Tourmaline Oil in a research note on Monday, October 13th. They issued a “buy” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.

Tourmaline Oil Price Performance

The company’s 50 day simple moving average is $44.54 and its 200 day simple moving average is $43.77. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $18.20 billion, a PE ratio of 18.74, a PEG ratio of 1.83 and a beta of -0.32.

Tourmaline Oil (OTCMKTS:TRMLF) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.11). The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Tourmaline Oil had a return on equity of 8.27% and a net margin of 21.15%. On average, equities analysts anticipate that Tourmaline Oil Corp. will post 2.52 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.