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

Key Points

• Zacks Research upgraded Tourmaline Oil from “strong sell” to “hold,” while other analysts have issued mixed ratings. MarketBeat reports an overall “Moderate Buy” consensus and an average price target of $65.00.
• Tourmaline Oil shares opened at $44.87, with a market capitalization of $17.44 billion and a 52-week trading range of $40.01 to $51.20.
• Hedge fund Kahn Brothers Group purchased 26,959 shares worth approximately $1.13 million; institutional investors collectively own 1.76% of the company.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Tuesday,Zacks.com reports.

Several other research firms have also weighed in on TRMLF. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Tourmaline Oil in a research note on Friday, July 10th. BMO Capital Markets cut Tourmaline Oil from a "strong-buy" rating to a "market perform" rating in a report on Thursday, May 7th. Canaccord Genuity Group cut Tourmaline Oil from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 7th. Desjardins raised Tourmaline Oil to a "hold" rating in a research report on Thursday, July 16th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Tourmaline Oil in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Tourmaline Oil presently has an average rating of "Moderate Buy" and an average price target of $65.00.

Tourmaline Oil Stock Performance

OTCMKTS TRMLF opened at $44.87 on Tuesday. The firm has a market capitalization of $17.44 billion, a P/E ratio of 62.32 and a beta of -0.25. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.06. The firm's fifty day moving average price is $43.51 and its two-hundred day moving average price is $45.56. Tourmaline Oil has a 1 year low of $40.01 and a 1 year high of $51.20.

Institutional Trading of Tourmaline Oil

A hedge fund recently bought a new stake in Tourmaline Oil stock. Kahn Brothers Group Inc. purchased a new stake in Tourmaline Oil Corp. (OTCMKTS:TRMLF - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 26,959 shares of the company's stock, valued at approximately $1,127,000. Institutional investors and hedge funds own 1.76% of the company's stock.

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.

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