Canaccord Genuity Group Downgrades Tourmaline Oil (OTCMKTS:TRMLF) to Hold

Key Points

• Canaccord Genuity Group downgraded Tourmaline Oil (TRMLF) from a "strong-buy" to a "hold" rating in a research report.
• Multiple analyst moves have left the stock with a consensus rating of "Moderate Buy" and an average price target of $65.00.
• Shares opened at $47.61 (down ~2.8%); Tourmaline posted Q1 EPS of $1.23 that beat estimates while revenue of $1.12B slightly missed, and the company has a market cap of $18.48B and a P/E of 35.01.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) was downgraded by Canaccord Genuity Group from a "strong-buy" rating to a "hold" rating in a research report issued on Thursday,Zacks.com reports.

Several other equities research analysts also recently issued reports on TRMLF. ATB Cormark Capital Markets downgraded shares of Tourmaline Oil from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, March 5th. BMO Capital Markets downgraded shares of Tourmaline Oil from a "strong-buy" rating to a "market perform" rating in a research note on Thursday. Zacks Research upgraded shares of Tourmaline Oil from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 18th. Finally, Scotiabank upgraded shares of Tourmaline Oil to a "strong-buy" rating in a research note on Wednesday, April 1st. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $65.00.

Tourmaline Oil Trading Down 2.8%

Tourmaline Oil stock opened at $47.61 on Thursday. The firm has a 50-day moving average of $46.85 and a 200-day moving average of $45.35. Tourmaline Oil has a one year low of $40.01 and a one year high of $51.20. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $18.48 billion, a price-to-earnings ratio of 35.01 and a beta of -0.24.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.61. Tourmaline Oil had a net margin of 10.27% and a return on equity of 10.46%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. On average, equities analysts expect that Tourmaline Oil will post 3.05 earnings per share for the current fiscal year.

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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