Tourmaline Oil (OTCMKTS:TRMLF) Issues Quarterly Earnings Results, Beats Expectations By $0.61 EPS
by Doug Wharley · The Cerbat GemTourmaline Oil (OTCMKTS:TRMLF – Get Free Report) released its earnings results on Wednesday. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.62 by $0.61, Zacks reports. Tourmaline Oil had a return on equity of 10.46% and a net margin of 10.27%.The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion.
Tourmaline Oil Stock Performance
TRMLF stock traded up $0.28 during midday trading on Friday, hitting $47.90. The company’s stock had a trading volume of 49,185 shares, compared to its average volume of 253,148. The stock’s 50-day moving average price is $46.85 and its 200 day moving average price is $45.35. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.07. Tourmaline Oil has a 1 year low of $40.01 and a 1 year high of $51.20. The stock has a market cap of $18.59 billion, a price-to-earnings ratio of 35.22 and a beta of -0.24.
Analyst Ratings Changes
Several equities research analysts recently commented on TRMLF shares. ATB Cormark Capital Markets cut Tourmaline Oil from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, March 5th. Zacks Research upgraded Tourmaline Oil from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 18th. Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, April 1st. BMO Capital Markets lowered Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a report on Thursday. Finally, Canaccord Genuity Group lowered Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.00.
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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.