Tourmaline Oil (OTCMKTS:TRMLF) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research has downgraded Tourmaline Oil's stock rating from "hold" to "strong sell," reflecting a negative outlook for the company's performance.
• Several analysts have adjusted their ratings, with Raymond James lowering it to "hold" and TD Securities to "hold," while Goldman Sachs has initiated coverage with a "buy" rating.
• Tourmaline Oil's latest earnings report showed a Q2 EPS of $0.98, exceeding expectations, but revenue was below analyst estimates at $1.11 billion.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Monday,Zacks.com reports.

Other analysts have also issued reports about the stock. Raymond James Financial lowered shares of Tourmaline Oil from a "moderate buy" rating to a "hold" rating in a research note on Thursday, July 31st. CIBC restated an "outperform" rating on shares of Tourmaline Oil in a research note on Tuesday, June 24th. The Goldman Sachs Group started coverage on shares of Tourmaline Oil in a research note on Monday, October 13th. They set a "buy" rating on the stock. Finally, TD Securities lowered shares of Tourmaline Oil from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 30th. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold".

Tourmaline Oil Trading Up 0.8%

OTCMKTS:TRMLF traded up $0.36 on Monday, reaching $43.71. 11,355 shares of the company's stock were exchanged, compared to its average volume of 96,527. 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 firm has a market capitalization of $16.91 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 0.67 and a beta of -0.31. The business has a fifty day moving average of $43.01 and a 200-day moving average of $44.51. Tourmaline Oil has a 52-week low of $38.85 and a 52-week high of $50.01.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.32. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.84 billion. Tourmaline Oil had a net margin of 23.53% and a return on equity of 9.90%. As a group, analysts expect that Tourmaline Oil will post 2.52 earnings per share for the current year.

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.

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