Tourmaline Oil Corp. (OTCMKTS:TRMLF) Short Interest Up 30.9% in May

Tourmaline Oil Corp. (OTCMKTS:TRMLF - Get Free Report) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totalling 12,285,600 shares, a growth of 30.9% from the April 30th total of 9,384,400 shares. Based on an average daily volume of 92,800 shares, the days-to-cover ratio is presently 132.4 days. Currently, 3.3% of the company's stock are sold short.

Tourmaline Oil Stock Performance

Shares of OTCMKTS TRMLF traded up $0.22 during trading hours on Tuesday, hitting $46.25. 6,464 shares of the company's stock were exchanged, compared to its average volume of 64,596. Tourmaline Oil has a 1-year low of $36.93 and a 1-year high of $50.01. 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 stock has a market capitalization of $17.33 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 0.83 and a beta of -0.50. The company's 50-day moving average price is $45.08 and its 200-day moving average price is $45.85.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.68). Tourmaline Oil had a return on equity of 11.06% and a net margin of 27.12%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.80 billion. On average, sell-side analysts expect that Tourmaline Oil will post 2.52 earnings per share for the current fiscal year.

Tourmaline Oil Cuts Dividend

The company also recently declared a dividend, which was paid on Monday, May 26th. Shareholders of record on Friday, May 16th were issued a $0.2518 dividend. The ex-dividend date was Thursday, May 15th. This represents a yield of 2.22%. Tourmaline Oil's dividend payout ratio (DPR) is 57.20%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Raymond James upgraded Tourmaline Oil to a "moderate buy" rating in a research note on Monday, April 7th. Desjardins downgraded Tourmaline Oil from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, March 18th. Cormark upgraded Tourmaline Oil to a "moderate buy" rating in a research note on Friday, March 7th. Finally, Morgan Stanley reiterated a "cautious" rating on shares of Tourmaline Oil in a research note on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Tourmaline Oil currently has an average 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.