Tourmaline Oil Corp. (OTCMKTS:TRMLF) Short Interest Down 48.1% in March

Tourmaline Oil Corp. (OTCMKTS:TRMLF - Get Free Report) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 15,358,700 shares, a decrease of 48.1% from the March 15th total of 29,587,500 shares. Currently, 4.1% of the shares of the company are short sold. Based on an average daily volume of 42,100 shares, the days-to-cover ratio is presently 364.8 days.

Tourmaline Oil Price Performance

Shares of OTCMKTS:TRMLF traded down $0.91 during trading on Monday, hitting $44.61. 81,684 shares of the company's stock were exchanged, compared to its average volume of 75,001. Tourmaline Oil has a 52-week low of $36.93 and a 52-week high of $51.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $16.71 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.83 and a beta of -0.59. The business's 50-day simple moving average is $45.89 and its 200 day simple moving average is $46.03.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) last issued its earnings results on Wednesday, March 5th. The company reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $0.83 by ($0.05). The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.59 billion. Tourmaline Oil had a return on equity of 11.06% and a net margin of 27.12%. As a group, equities analysts predict that Tourmaline Oil will post 2.52 EPS for the current year.

Tourmaline Oil Increases Dividend

The company also recently declared a dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.3504 per share. This represents a yield of 3.14%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Tourmaline Oil's previous dividend of $0.24. Tourmaline Oil's dividend payout ratio (DPR) is currently 54.12%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TRMLF. Raymond James raised shares of Tourmaline Oil to a "moderate buy" rating in a report on Monday, April 7th. Morgan Stanley reiterated a "cautious" rating on shares of Tourmaline Oil in a research report on Wednesday, March 26th. Cormark raised Tourmaline Oil to a "moderate buy" rating in a research report on Friday, March 7th. Finally, Desjardins lowered shares of Tourmaline Oil from a "moderate buy" rating to a "hold" rating in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold".

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.