Tourmaline Oil (OTCMKTS:TRMLF) Shares Gap Down - What's Next?

Key Points

• Tourmaline Oil shares gapped down from $43.16 to $42.00 before opening and last traded at $43.47, indicating fluctuations in stock price recently.
• Research analysts have mixed ratings for the stock, with TD Securities downgrading it to a "hold," while Zacks upgraded it to "hold," reflecting varying investor sentiment.
• The company recently increased its dividend from $0.25 to $0.362 per share, resulting in a significant dividend yield of 344.0%.

Shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $43.16, but opened at $42.00. Tourmaline Oil shares last traded at $43.47, with a volume of 2,993 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. TD Securities downgraded Tourmaline Oil from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. Zacks Research upgraded Tourmaline Oil from a "strong sell" rating to a "hold" rating in a research note on Friday, September 19th. CIBC restated an "outperform" rating on shares of Tourmaline Oil in a research note on Tuesday, June 24th. Finally, Raymond James Financial downgraded Tourmaline Oil from a "moderate buy" rating to a "hold" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold".

Tourmaline Oil Stock Performance

The stock has a market cap of $16.87 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 0.64 and a beta of -0.33. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a fifty day moving average of $43.04 and a 200 day moving average of $44.95.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.32. The company had revenue of $1.11 billion during 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%. As a group, sell-side analysts forecast that Tourmaline Oil Corp. will post 2.52 EPS for the current year.

Tourmaline Oil Increases Dividend

The company also recently disclosed a dividend, which was paid on Monday, September 29th. Stockholders of record on Tuesday, September 16th were paid a $0.362 dividend. The ex-dividend date of this dividend was Monday, September 15th. This is a boost from Tourmaline Oil's previous dividend of $0.25. This represents a dividend yield of 344.0%. Tourmaline Oil's payout ratio is presently 50.35%.

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.

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