Tourmaline Oil Corp. (OTCMKTS:TRMLF) Sees Significant Increase in Short Interest

Tourmaline Oil Corp. (OTCMKTS:TRMLF) saw a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 13,091,200 shares, a growth of 36.4% from the February 13th total of 9,596,100 shares. Based on an average trading volume of 133,100 shares, the days-to-cover ratio is currently 98.4 days. Currently, 3.5% of the company’s shares are sold short.

Tourmaline Oil Stock Down 1.6 %

Shares of OTCMKTS TRMLF traded down $0.71 on Friday, hitting $44.69. The company had a trading volume of 213,428 shares, compared to its average volume of 85,189. Tourmaline Oil has a 12-month low of $36.93 and a 12-month high of $51.15. The business has a 50 day moving average of $46.80 and a two-hundred day moving average of $45.89. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $16.70 billion, a P/E ratio of 13.79, a PEG ratio of 0.83 and a beta of -0.54.

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

Tourmaline Oil Increases Dividend

The firm also recently declared a dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.3504 dividend. The ex-dividend date is Friday, March 14th. This represents a yield of 3.14%. This is an increase from Tourmaline Oil’s previous dividend of $0.24. Tourmaline Oil’s dividend payout ratio is currently 38.43%.

Wall Street Analyst Weigh In

Separately, Cormark upgraded Tourmaline Oil to a “moderate buy” rating in a research note on Friday, March 7th.

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.