Tourmaline Oil (OTCMKTS:TRMLF) Releases Earnings Results, Misses Expectations By $0.09 EPS

Key Points

• Tourmaline Oil reported quarterly EPS of $0.51, missing analysts’ consensus estimate of $0.60 by $0.09. The company posted a 10.46% return on equity and a 10.27% net margin.
• Shares rose $1.15 to $45.82 during Wednesday trading, while the stock remained below its one-year high of $51.20 and had a market capitalization of approximately $17.8 billion.
• Analyst sentiment was mixed, with several firms downgrading the stock; the overall consensus rating was “Hold”, with an average price target of $65.00.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.09), Zacks reports. Tourmaline Oil had a return on equity of 10.46% and a net margin of 10.27%.

Tourmaline Oil Price Performance

Shares of OTCMKTS TRMLF traded up $1.15 during mid-day trading on Wednesday, reaching $45.82. The company had a trading volume of 158,211 shares, compared to its average volume of 236,141. The company has a 50-day moving average price of $44.54 and a two-hundred day moving average price of $45.65. The stock has a market cap of $17.80 billion, a PE ratio of 33.69 and a beta of -0.22. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.06. Tourmaline Oil has a 1-year low of $40.01 and a 1-year high of $51.20.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TRMLF shares. BMO Capital Markets cut Tourmaline Oil from a "strong-buy" rating to a "market perform" rating in a research note on Thursday, May 7th. Zacks Research cut shares of Tourmaline Oil from a "hold" rating to a "strong sell" rating in a research report on Friday, July 17th. Desjardins upgraded shares of Tourmaline Oil to a "hold" rating in a research report on Thursday, July 16th. Canaccord Genuity Group cut shares of Tourmaline Oil from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 7th. Finally, Scotiabank reiterated an "outperform" rating on shares of Tourmaline Oil in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $65.00.

Tourmaline Oil Company Profile

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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