Tourmaline Oil Corp. (OTCMKTS:TRMLF) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Tourmaline Oil, with five holds, four buys, one strong buy and one sell among 11 analysts. The average 12-month price target is $65.00.
• Recent broker actions were mixed: Scotiabank and CIBC maintained “outperform” ratings, while BMO Capital Markets and Canaccord Genuity downgraded the stock; Zacks Research moved to “strong sell.”
• Tourmaline Oil shares opened at $45.23, with a $17.57 billion market capitalization and a 52-week trading range of $40.01 to $51.20. Kahn Brothers Group also initiated a stake worth approximately $1.13 million.

Shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF - Get Free Report) have been assigned an average recommendation of "Hold" from the eleven analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $65.00.

Several research firms recently weighed in on TRMLF. Scotiabank reissued an "outperform" rating on shares of Tourmaline Oil in a research report on Friday, July 17th. BMO Capital Markets lowered Tourmaline Oil from a "strong-buy" rating to a "market perform" rating in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Tourmaline Oil in a research report on Friday, July 10th. Canaccord Genuity Group lowered Tourmaline Oil from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 7th. Finally, Zacks Research lowered Tourmaline Oil from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th.

Tourmaline Oil Stock Up 0.4%

TRMLF stock opened at $45.23 on Friday. The stock has a market capitalization of $17.57 billion, a price-to-earnings ratio of 62.81 and a beta of -0.25. The company has a 50-day moving average of $43.42 and a two-hundred day moving average of $45.56. Tourmaline Oil has a 52-week low of $40.01 and a 52-week high of $51.20. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.88 and a quick ratio of 0.88.

Hedge Funds Weigh In On Tourmaline Oil

An institutional investor 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) in the second quarter, according to its most recent Form 13F 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 own 1.76% of the company's stock.

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.

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