Tourmaline Oil (OTCMKTS:TRMLF) Shares Gap Down - Time to Sell?

Key Points

• Tourmaline Oil shares gapped down at the open, falling from a previous close of $43.23 to an opening price of $41.3201 before recovering to around $43.16.
• Analyst sentiment is mixed: recent moves include downgrades from BMO Capital Markets and Canaccord, while Scotiabank upgraded the stock to strong-buy. Overall, the consensus rating is Moderate Buy with a $65.00 average price target.
• The company reported better-than-expected earnings of $1.23 per share for the quarter, beating estimates, though revenue came in slightly below forecasts at $1.12 billion.

Tourmaline Oil Corp. (OTCMKTS:TRMLF - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $43.23, but opened at $41.3201. Tourmaline Oil shares last traded at $43.16, with a volume of 1,950 shares.

Analyst Ratings Changes

Several research analysts have commented on TRMLF shares. Zacks Research raised shares of Tourmaline Oil from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 18th. BMO Capital Markets cut shares of Tourmaline Oil from a "strong-buy" rating to a "market perform" rating in a report on Thursday, May 7th. Canaccord Genuity Group downgraded Tourmaline Oil from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 7th. Finally, Scotiabank raised Tourmaline Oil to a "strong-buy" rating in a research note on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Tourmaline Oil has an average rating of "Moderate Buy" and an average price target of $65.00.

Tourmaline Oil Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 0.88 and a quick ratio of 0.88. The company has a 50 day simple moving average of $45.58 and a 200-day simple moving average of $45.63. The stock has a market cap of $16.58 billion, a P/E ratio of 31.40 and a beta of -0.22.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $0.62 by $0.61. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. Tourmaline Oil had a return on equity of 10.46% and a net margin of 10.27%. On average, equities analysts expect that Tourmaline Oil Corp. will post 2.83 earnings per share for the current fiscal year.

About Tourmaline Oil

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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