Raymond James Financial Downgrades Tourmaline Oil (OTCMKTS:TRMLF) to Hold

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 cut shares of Tourmaline Oil (OTCMKTS:TRMLF - Free Report) from a moderate buy rating to a hold rating in a report issued on Thursday morning,Zacks.com reports.

Separately, CIBC restated an "outperform" rating on shares of Tourmaline Oil in a report 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold".

Tourmaline Oil Trading Down 0.2%

Shares of TRMLF traded down $0.08 during trading hours on Thursday, reaching $41.99. 29,573 shares of the company traded hands, compared to its average volume of 72,977. The firm has a market cap of $16.24 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 0.61 and a beta of -0.33. Tourmaline Oil has a 12-month low of $38.85 and a 12-month high of $50.01. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.08. The stock's fifty day moving average price is $46.32 and its 200 day moving average price is $46.06.

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

Tourmaline Oil Cuts Dividend

The business also recently announced a dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Monday, August 11th will be given 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 is currently 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.