Tourmaline Oil Corp. (OTCMKTS:TRMLF) Sees Large Growth in Short Interest

Key Points

• Tourmaline Oil Corp. experienced a significant increase in short interest, rising by 42.1% to 12,114,600 shares as of August 15th, resulting in a days-to-cover ratio of 78.0 days.
• The company reported earnings of $0.98 per share for its latest quarter, surpassing estimates, with a revenue of $1.11 billion, but missing the consensus target of $1.84 billion.
• Tourmaline Oil recently declared a dividend of $0.2534 per share, representing a yield of 242.0%, with a payout ratio of 50.69%.

Tourmaline Oil Corp. (OTCMKTS:TRMLF - Get Free Report) saw a significant growth in short interest in August. As of August 15th, there was short interest totaling 12,114,600 shares, agrowthof42.1% from the July 31st total of 8,528,200 shares. Based on an average daily volume of 155,400 shares, the days-to-cover ratio is currently 78.0 days. Based on an average daily volume of 155,400 shares, the days-to-cover ratio is currently 78.0 days.

Tourmaline Oil Stock Performance

Shares of TRMLF stock opened at $41.88 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.67 and a current ratio of 0.67. Tourmaline Oil has a fifty-two week low of $38.85 and a fifty-two week high of $50.01. The stock has a 50 day moving average price of $43.71 and a two-hundred day moving average price of $45.15. The company has a market capitalization of $16.20 billion, a P/E ratio of 14.54, a PEG ratio of 0.59 and a beta of -0.33.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.32. Tourmaline Oil had a return on equity of 9.90% and a net margin of 23.53%.The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.84 billion. Analysts expect that Tourmaline Oil will post 2.52 earnings per share for the current year.

Tourmaline Oil Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, August 20th. Shareholders of record on Monday, August 11th were given a $0.2534 dividend. The ex-dividend date was Friday, August 8th. This represents a yield of 242.0%. Tourmaline Oil's payout ratio is presently 50.69%.

Analyst Upgrades and Downgrades

TRMLF has been the subject of several recent analyst reports. CIBC reissued an "outperform" rating on shares of Tourmaline Oil in a report on Tuesday, June 24th. Raymond James Financial lowered Tourmaline Oil from a "moderate buy" rating to a "hold" rating in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Tourmaline Oil presently has a consensus rating of "Hold".

Tourmaline Oil Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.