Tourmaline Oil (OTCMKTS:TRMLF) Shares Gap Down - Should You Sell?

Key Points

• Tourmaline Oil shares opened lower at $44.05 versus the prior close of $45.5298, later trading at $46.07 on modest volume.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $65, with ratings ranging from Strong Buy to Sell.
• The company has a $17.95 billion market capitalization and low debt-to-equity ratio of 0.04; institutional investors own 1.76% of its shares, while Kahn Brothers recently bought approximately $1.13 million worth of stock.

Shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF - Get Free Report) gapped down prior to trading on Friday. The stock had previously closed at $45.5298, but opened at $44.05. Tourmaline Oil shares last traded at $46.07, with a volume of 2,558 shares.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Desjardins upgraded Tourmaline Oil to a "hold" rating in a research note on Thursday, July 16th. Scotiabank restated an "outperform" rating on shares of Tourmaline Oil in a research report on Friday, July 17th. The Goldman Sachs Group lowered Tourmaline Oil from a "buy" rating to a "sell" rating in a research note on Thursday, October 1st. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Tourmaline Oil in a research note on Friday, July 10th. Finally, Zacks Research upgraded Tourmaline Oil from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $65.00.

Tourmaline Oil Price Performance

The stock's fifty day moving average price is $44.23 and its 200-day moving average price is $44.86. The firm has a market cap of $17.95 billion, a PE ratio of 64.20 and a beta of -0.21. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.72 and a quick ratio of 0.72.

Institutional Trading of Tourmaline Oil

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

About Tourmaline Oil

Tourmaline Oil Corp. is a Canadian natural gas exploration and production company headquartered in Calgary, Alberta. The company focuses on the acquisition, development and operation of long-life, resource-rich properties in the Western Canadian Sedimentary Basin.

Tourmaline's operations are concentrated in three core areas: the Alberta Deep Basin, northeast British Columbia and the Peace River region of Alberta. Its production portfolio includes natural gas, natural gas liquids, condensate and crude oil, supported by related gathering, processing, transportation and marketing infrastructure.

The company was established in 2008 and has grown through exploration, development and strategic acquisitions.

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