Tourmaline Oil (OTCMKTS:TRMLF) Shares Gap Down - Should You Sell?

Tourmaline Oil Corp. (OTCMKTS:TRMLF - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $45.47, but opened at $44.01. Tourmaline Oil shares last traded at $45.47, with a volume of 4,012 shares.

Analysts Set New Price Targets

A number of equities analysts recently commented on TRMLF shares. Raymond James Financial upgraded shares of Tourmaline Oil to a "moderate buy" rating in a research report on Monday, April 7th. CIBC reaffirmed an "outperform" rating on shares of Tourmaline Oil in a research note on Tuesday, June 24th. Morgan Stanley reissued a "cautious" rating on shares of Tourmaline Oil in a research note on Wednesday, March 26th. Finally, Desjardins lowered shares of Tourmaline Oil from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

Tourmaline Oil Stock Up 0.6%

The company has a market cap of $17.69 billion, a PE ratio of 18.82, a P/E/G ratio of 0.63 and a beta of -0.32. The company's 50 day moving average is $46.65 and its 200 day moving average is $46.31. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.08.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.07 by ($0.68). The firm had revenue of $1.31 billion during the quarter, compared to analysts' expectations of $1.80 billion. Tourmaline Oil had a return on equity of 8.30% and a net margin of 21.16%. As a group, analysts predict that Tourmaline Oil Corp. will post 2.52 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The company also recently announced a dividend, which was paid on Monday, June 30th. Stockholders of record on Tuesday, June 17th were issued a dividend of $0.3598 per share. This represents a dividend yield of 2.95%. This is a positive change from Tourmaline Oil's previous dividend of $0.25. The ex-dividend date was Monday, June 16th. Tourmaline Oil's payout ratio is 60.08%.

About Tourmaline Oil

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.