Tourmaline Oil (OTCMKTS:TRMLF) Trading 1.3% Higher - What's Next?

Key Points

• Tourmaline Oil Corp. stock rose 1.3% to $43.93 after trading as high as $44.75, but trading volume decreased significantly to 42,661 shares.
• Analysts downgraded Tourmaline Oil from "hold" to "strong sell," "moderate buy" to "hold," and "strong buy" to "hold," with a current consensus rating of "Hold."
• The company recently increased its dividend to $0.362 per share, up from $0.25, reflecting a payout ratio of 50.69% and a dividend yield of 344.0%.

Tourmaline Oil Corp. (OTCMKTS:TRMLF - Get Free Report) shot up 1.3% on Wednesday . The stock traded as high as $44.75 and last traded at $43.93. 42,661 shares were traded during mid-day trading, a decline of 75% from the average session volume of 169,423 shares. The stock had previously closed at $43.35.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TRMLF shares. Zacks Research cut Tourmaline Oil from a "hold" rating to a "strong sell" rating in a report on Monday. Raymond James Financial cut shares of Tourmaline Oil from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 31st. TD Securities downgraded shares of Tourmaline Oil from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 30th. Finally, The Goldman Sachs Group initiated coverage on Tourmaline Oil in a report on Monday, October 13th. They set a "buy" rating for the company. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold".

Tourmaline Oil Stock Performance

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 market capitalization of $17.00 billion, a PE ratio of 15.25, a P/E/G ratio of 0.69 and a beta of -0.31. The firm has a fifty day moving average price of $43.06 and a 200 day moving average price of $44.50.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) last released its earnings results 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. Tourmaline Oil had a net margin of 23.53% and a return on equity of 9.90%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.84 billion. Research analysts anticipate that Tourmaline Oil Corp. will post 2.52 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, September 29th. Investors of record on Tuesday, September 16th were given a dividend of $0.362 per share. 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 yield of 344.0%. Tourmaline Oil's payout ratio is presently 50.69%.

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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