Tourmaline Oil Corp. (OTCMKTS:TRMLF) Sees Large Growth in Short Interest

Tourmaline Oil Corp. (OTCMKTS:TRMLF) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 29,587,500 shares, a growth of 126.0% from the February 28th total of 13,091,200 shares. Based on an average daily volume of 120,300 shares, the short-interest ratio is currently 245.9 days. Approximately 7.9% of the company’s stock are sold short.

Analyst Ratings Changes

A number of brokerages have recently commented on TRMLF. Cormark raised Tourmaline Oil to a “moderate buy” rating in a research report on Friday, March 7th. Morgan Stanley reissued a “cautious” rating on shares of Tourmaline Oil in a research report on Wednesday. Finally, Desjardins cut shares of Tourmaline Oil from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Tourmaline Oil Stock Down 0.9 %

Tourmaline Oil stock opened at $47.68 on Friday. The firm has a market cap of $17.82 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 0.83 and a beta of -0.54. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.10. Tourmaline Oil has a 12 month low of $36.93 and a 12 month high of $51.15. The stock has a fifty day simple moving average of $46.85 and a two-hundred day simple moving average of $46.06.

Tourmaline Oil (OTCMKTS:TRMLF) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Tourmaline Oil had a net margin of 27.12% and a return on equity of 11.06%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Equities analysts predict that Tourmaline Oil will post 2.52 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The business also recently announced a dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.3504 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Tourmaline Oil’s previous dividend of $0.24. This represents a yield of 3.14%. Tourmaline Oil’s payout ratio is currently 54.12%.

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.