Tourmaline Oil (OTCMKTS:TRMLF) Issues Quarterly Earnings Results, Beats Estimates By $0.32 EPS

Key Points

• Tourmaline Oil reported earnings of $0.98 per share for the quarter, missing the consensus estimate of $1.03 by $0.05.
• The company increased its dividend to $0.3598, up from the previous dividend of $0.25, representing a yield of 2.95%.
• Tourmaline Oil's stock has a market capitalization of $17.68 billion and maintains robust financial ratios, including a debt-to-equity ratio of 0.08.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) posted its earnings results on Wednesday. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.32, Zacks reports. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.84 billion. Tourmaline Oil had a return on equity of 9.90% and a net margin of 23.53%.

Tourmaline Oil Price Performance

Shares of TRMLF traded down $0.72 during trading hours on Friday, reaching $41.86. 317,517 shares of the company traded hands, 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 stock has a market capitalization of $16.19 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 0.61 and a beta of -0.33. Tourmaline Oil has a fifty-two week low of $36.93 and a fifty-two week high of $50.01. The stock has a fifty day simple moving average of $46.42 and a 200 day simple moving average of $46.10.

Tourmaline Oil Cuts Dividend

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

Analysts Set New Price Targets

A number of research firms recently commented on TRMLF. CIBC reaffirmed an "outperform" rating on shares of Tourmaline Oil in a research note on Tuesday, June 24th. Raymond James Financial lowered Tourmaline Oil from a "moderate buy" rating to a "hold" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tourmaline Oil has an average rating of "Hold".

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.