Tourmaline Oil (OTCMKTS:TRMLF) Shares Gap Up – Should You Buy?

Shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF) gapped up before the market opened on Monday . The stock had previously closed at $47.05, but opened at $50.28. Tourmaline Oil shares last traded at $46.31, with a volume of 2,773 shares.

Wall Street Analysts Forecast Growth

TRMLF has been the subject of a number of research analyst reports. Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, April 1st. ATB Cormark Capital Markets downgraded Tourmaline Oil from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, March 5th. BMO Capital Markets downgraded Tourmaline Oil from a “strong-buy” rating to a “market perform” rating in a report on Thursday, May 7th. Canaccord Genuity Group cut shares of Tourmaline Oil from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 7th. Finally, Zacks Research raised shares of Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.00.

Tourmaline Oil Trading Down 1.9%

The business’s 50-day moving average is $46.58 and its two-hundred day moving average is $45.98. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $17.52 billion, a PE ratio of 33.17 and a beta of -0.28.

Tourmaline Oil (OTCMKTS:TRMLF) last announced its quarterly 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 net margin of 10.27% and a return on equity of 10.46%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. On average, analysts predict that Tourmaline Oil Corp. will post 3.42 earnings per share 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.