Tourmaline Oil (OTCMKTS:TRMLF) Shares Down 5.1% – What’s Next?

Shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF) were down 5.1% on Thursday . The company traded as low as $43.02 and last traded at $43.48. Approximately 1,430 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 225,394 shares. The stock had previously closed at $45.83.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TRMLF. Desjardins upgraded shares of Tourmaline Oil to a “hold” rating in a research note on Thursday, July 16th. Scotiabank reiterated an “outperform” rating on shares of Tourmaline Oil in a research note on Friday, July 17th. Zacks Research raised shares of Tourmaline Oil from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 25th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Tourmaline Oil in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

Tourmaline Oil Price Performance

The firm has a fifty day moving average price of $44.43 and a two-hundred day moving average price of $45.49. The stock has a market capitalization of $16.88 billion, a P/E ratio of 60.35 and a beta of -0.24. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.04.

Institutional Trading of Tourmaline Oil

An institutional investor recently bought a new stake in Tourmaline Oil stock. Kahn Brothers Group Inc. acquired a new position in shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 26,959 shares of the company’s stock, valued at approximately $1,127,000. 1.76% of the stock is owned by institutional investors.

Tourmaline Oil Company Profile

Tourmaline Oil Corp. is a Canadian energy company engaged in the exploration, development, production and marketing of natural gas, natural gas liquids and crude oil. The company focuses primarily on unconventional resource plays and operates an integrated portfolio of drilling, processing and infrastructure assets.

Tourmaline’s operations are concentrated in the Western Canadian Sedimentary Basin, particularly in the Alberta Deep Basin, Northeast British Columbia and the Alberta Montney.