Tourmaline Oil (OTCMKTS:TRMLF) Downgraded to Hold Rating by Canaccord Genuity Group

Canaccord Genuity Group cut shares of Tourmaline Oil (OTCMKTS:TRMLF) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

A number of other equities research analysts have also recently commented on TRMLF. ATB Cormark Capital Markets cut Tourmaline Oil from a “strong-buy” rating to a “moderate buy” rating in a research note on Thursday, March 5th. Zacks Research raised Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research note on Wednesday, April 1st. Finally, BMO Capital Markets cut Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Tourmaline Oil Trading Down 2.8%

TRMLF stock opened at $47.61 on Thursday. The company has a market cap of $18.48 billion, a P/E ratio of 35.01 and a beta of -0.24. Tourmaline Oil has a twelve month low of $40.01 and a twelve month high of $51.20. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.07. The business has a fifty day moving average of $46.85 and a 200-day moving average of $45.35.

Tourmaline Oil (OTCMKTS:TRMLF) last released its earnings results on Wednesday, May 6th. The company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.61. Tourmaline Oil had a return on equity of 10.46% and a net margin of 10.27%.The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. As a group, equities research analysts expect that Tourmaline Oil will post 3.05 EPS for the current year.

Tourmaline Oil Company Profile

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.