Tourmaline Oil (OTCMKTS:TRMLF) Upgraded by Desjardins to "Hold" Rating

Key Points

• Desjardins upgraded Tourmaline Oil to “hold” in a Thursday research note, adding to a mixed analyst picture around the stock.
• Overall analyst sentiment now stands at a “Moderate Buy” consensus, with a target price of $65.00; the tally includes one Strong Buy, four Buy ratings, and seven Hold ratings.
• Tourmaline Oil reported better-than-expected Q1 earnings of $1.23 per share versus $0.62 expected, while revenue came in slightly below estimates at $1.12 billion.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) was upgraded by investment analysts at Desjardins to a "hold" rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other brokerages have also weighed in on TRMLF. Canaccord Genuity Group lowered shares of Tourmaline Oil from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Tourmaline Oil in a research report on Friday, July 10th. BMO Capital Markets downgraded Tourmaline Oil from a "strong-buy" rating to a "market perform" rating in a research note on Thursday, May 7th. Scotiabank reiterated an "outperform" rating on shares of Tourmaline Oil in a report on Friday. Finally, Zacks Research raised Tourmaline Oil from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.00.

Tourmaline Oil Price Performance

Tourmaline Oil stock opened at $44.56 on Thursday. The stock has a market capitalization of $17.30 billion, a price-to-earnings ratio of 32.76 and a beta of -0.22. Tourmaline Oil has a 52-week low of $40.01 and a 52-week high of $51.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.88 and a current ratio of 0.88. The stock's 50 day moving average price is $45.02 and its two-hundred day moving average price is $45.59.

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