Tourmaline Oil (OTCMKTS:TRMLF) Upgraded at Desjardins

Desjardins upgraded shares of Tourmaline Oil (OTCMKTS:TRMLF) to a hold rating in a report published on Thursday,Zacks.com reports.

Several other brokerages also recently issued reports on TRMLF. Scotiabank reiterated an “outperform” rating on shares of Tourmaline Oil in a research note on Friday. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Tourmaline Oil in a research report on Friday, July 10th. BMO Capital Markets lowered Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, May 7th. Zacks Research raised Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Finally, Canaccord Genuity Group downgraded Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.00.

Tourmaline Oil Stock Performance

Shares of 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 firm has a market cap of $17.30 billion, a price-to-earnings ratio of 32.76 and a beta of -0.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.88 and a current ratio of 0.88. The business’s 50-day simple moving average is $45.02 and its 200-day simple moving average is $45.59.

Tourmaline Oil (OTCMKTS:TRMLF) last released its earnings results on Wednesday, May 6th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.61. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Tourmaline Oil had a net margin of 10.27% and a return on equity of 10.46%. As a group, equities research analysts expect that Tourmaline Oil will post 2.88 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.