Tourmaline Oil (OTCMKTS:TRMLF) Shares Gap Down - Here's What Happened

Key Points

• Tourmaline Oil shares gapped down before the market on Monday, opening at $48.06 versus the prior close of $50.59, last trading at $49.67 on a volume of 13,724 shares and down about 2.1%.
• Analysts maintain a consensus rating of Moderate Buy with a $65 average price target, reflecting a mix of 2 Strong Buy, 3 Buy, 4 Hold and 1 Sell ratings.
• Tourmaline reported an earnings beat for the quarter (EPS $0.59 vs $0.35 expected, revenue $1.25B vs $1.14B), while trading at a high P/E of 95.23 and a market cap near $19.17B.

Tourmaline Oil Corp. (OTCMKTS:TRMLF - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $50.59, but opened at $48.06. Tourmaline Oil shares last traded at $49.67, with a volume of 13,724 shares traded.

Wall Street Analyst Weigh In

TRMLF has been the topic of a number of recent research reports. Zacks Research upgraded Tourmaline Oil from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 18th. Roth Mkm began coverage on shares of Tourmaline Oil in a research report on Friday, December 19th. They set a "neutral" rating for the company. Finally, ATB Cormark Capital Markets cut shares of Tourmaline Oil from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, March 5th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Tourmaline Oil currently has an average rating of "Moderate Buy" and a consensus price target of $65.00.

Tourmaline Oil Stock Down 2.1%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.48 and a current ratio of 0.48. The firm has a 50 day simple moving average of $45.97 and a two-hundred day simple moving average of $44.74. The stock has a market cap of $19.17 billion, a P/E ratio of 95.23, a P/E/G ratio of 5.83 and a beta of -0.31.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) last released its quarterly earnings results on Wednesday, March 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.24. The company had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.14 billion. Tourmaline Oil had a return on equity of 7.67% and a net margin of 4.13%. Equities research analysts predict that Tourmaline Oil Corp. will post 2.52 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.