Tourmaline Oil (OTCMKTS:TRMLF) Upgraded by Zacks Research to Hold Rating

Tourmaline Oil (OTCMKTS:TRMLF) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts have also recently weighed in on the company. Canaccord Genuity Group cut Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Tourmaline Oil in a research note on Friday, July 10th. Scotiabank restated an “outperform” rating on shares of Tourmaline Oil in a research note on Friday, July 17th. BMO Capital Markets lowered shares of Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, May 7th. Finally, Desjardins upgraded shares of Tourmaline Oil to a “hold” rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Tourmaline Oil Stock Performance

TRMLF opened at $44.87 on Tuesday. The business has a fifty day simple moving average of $43.51 and a 200 day simple moving average of $45.56. The company has a market capitalization of $17.44 billion, a PE ratio of 62.32 and a beta of -0.25. Tourmaline Oil has a 1 year low of $40.01 and a 1 year high of $51.20. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.88 and a quick ratio of 0.88.

Institutional Trading of Tourmaline Oil

An institutional investor recently bought a new stake in Tourmaline Oil stock. Kahn Brothers Group Inc. bought a new position in shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 26,959 shares of the company’s stock, valued at approximately $1,127,000. 1.76% of the stock is currently owned by hedge funds and other institutional investors.

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.