Tourmaline Oil Corp. (OTCMKTS:TRMLF) Short Interest Update

Tourmaline Oil Corp. (OTCMKTS:TRMLF - Get Free Report) was the recipient of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 9,575,800 shares, a decrease of 37.7% from the March 31st total of 15,358,700 shares. Based on an average daily trading volume, of 120,600 shares, the days-to-cover ratio is currently 79.4 days. Currently, 2.6% of the shares of the stock are sold short.

Tourmaline Oil Price Performance

Shares of OTCMKTS TRMLF traded up $0.57 during mid-day trading on Friday, reaching $44.37. 10,931 shares of the company were exchanged, compared to its average volume of 69,151. Tourmaline Oil has a 52 week low of $36.93 and a 52 week high of $51.15. The company's 50 day moving average price is $45.21 and its 200 day moving average price is $45.88. The stock has a market capitalization of $16.62 billion, a PE ratio of 13.69, a PEG ratio of 0.83 and a beta of -0.50. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.10.

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

Tourmaline Oil Increases Dividend

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

Analysts Set New Price Targets

TRMLF has been the subject of a number of analyst reports. Cormark upgraded shares of Tourmaline Oil to a "moderate buy" rating in a research report on Friday, March 7th. Morgan Stanley restated a "cautious" rating on shares of Tourmaline Oil in a research report on Wednesday, March 26th. Desjardins downgraded Tourmaline Oil from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 18th. Finally, Raymond James upgraded Tourmaline Oil to a "moderate buy" rating in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tourmaline Oil presently 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.