Tourmaline Oil (OTCMKTS:TRMLF) Issues Quarterly Earnings Results, Beats Expectations By $0.61 EPS

Key Points

• Tourmaline beat expectations — the company reported quarterly EPS of $1.23 versus analysts' $0.62 estimate (a $0.61 beat), with a net margin of 4.13% and a return on equity of 7.75%.
• Shares traded down about 1.6% to $48.98 on Wednesday on above-average volume (596,239 shares); the stock has a market cap of $19.01 billion and a trailing P/E of 94.19.
• Analyst sentiment is cautiously positive: the consensus rating is "Moderate Buy" with an average price target of $65, amid a mix of recent upgrades and downgrades.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) announced its earnings results on Wednesday. The company reported $1.23 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.61, Zacks reports. Tourmaline Oil had a net margin of 4.13% and a return on equity of 7.75%.

Tourmaline Oil Trading Down 1.6%

Shares of OTCMKTS:TRMLF traded down $0.78 during trading on Wednesday, reaching $48.98. 596,239 shares of the stock were exchanged, compared to its average volume of 252,241. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.83 and a current ratio of 0.83. Tourmaline Oil has a 12-month low of $40.01 and a 12-month high of $51.20. The firm has a market cap of $19.01 billion, a price-to-earnings ratio of 94.19 and a beta of -0.24. The firm's 50-day moving average price is $46.82 and its 200 day moving average price is $45.31.

Wall Street Analysts Forecast Growth

TRMLF has been the subject of several analyst reports. Scotiabank raised shares of Tourmaline Oil to a "strong-buy" rating in a research note on Wednesday, April 1st. Zacks Research raised shares of Tourmaline Oil from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 18th. Finally, ATB Cormark Capital Markets downgraded shares of Tourmaline Oil from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, March 5th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $65.00.

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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