Tourmaline Oil (OTCMKTS:TRMLF) Stock Rating Lowered by Raymond James Financial

Key Points

• Tourmaline Oil's stock rating was dropped from "moderate buy" to "hold" by Raymond James Financial, reflecting a cautious outlook among analysts.
• CIBC reaffirmed an "outperform" rating on Tourmaline Oil shares, indicating some disagreement among analysts about the company's prospects.
• The company's latest earnings report showed earnings per share of $0.98, exceeding analyst expectations, but revenue of $1.11 billion fell short of the consensus estimate.

Raymond James Financial downgraded shares of Tourmaline Oil (OTCMKTS:TRMLF - Free Report) from a moderate buy rating to a hold rating in a report published on Thursday,Zacks.com reports.

Separately, CIBC reaffirmed an "outperform" rating on shares of Tourmaline Oil in a research note on Tuesday, June 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold".

Tourmaline Oil Trading Down 1.7%

Tourmaline Oil stock traded down $0.72 during trading hours on Thursday, reaching $41.86. 317,517 shares of the company's stock were exchanged, compared to its average volume of 96,719. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.08. The firm's 50 day simple moving average is $46.42 and its 200 day simple moving average is $46.10. The firm has a market capitalization of $16.19 billion, a PE ratio of 14.53, a PEG ratio of 0.61 and a beta of -0.33. Tourmaline Oil has a twelve month low of $36.93 and a twelve month high of $50.01.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.32. The company had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.84 billion. Tourmaline Oil had a net margin of 23.53% and a return on equity of 9.90%. Research analysts predict that Tourmaline Oil will post 2.52 earnings per share for the current year.

Tourmaline Oil Cuts Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, August 20th. Investors of record on Monday, August 11th will be issued a dividend of $0.2534 per share. This represents a dividend yield of 242.0%. The ex-dividend date of this dividend is Friday, August 8th. Tourmaline Oil's dividend payout ratio (DPR) is 50.69%.

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.