Tourmaline Oil (OTCMKTS:TRMLF) Shares Gap Up – Time to Buy?

Tourmaline Oil Corp. (OTCMKTS:TRMLF) shares gapped up prior to trading on Wednesday . The stock had previously closed at $41.50, but opened at $43.00. Tourmaline Oil shares last traded at $43.0790, with a volume of 3,289 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TRMLF shares. BMO Capital Markets cut Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a report on Thursday, May 7th. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. Canaccord Genuity Group cut Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, Zacks Research raised Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Tourmaline Oil Trading Down 1.5%

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $16.79 billion, a price-to-earnings ratio of 31.79 and a beta of -0.22. The business’s fifty day moving average price is $45.58 and its 200 day moving average price is $45.63.

Tourmaline Oil (OTCMKTS:TRMLF) last announced its earnings results on Wednesday, May 6th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.61. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. Tourmaline Oil had a return on equity of 10.46% and a net margin of 10.27%. Research analysts anticipate that Tourmaline Oil Corp. will post 2.83 earnings per share for the current fiscal year.

About Tourmaline Oil

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.