Tourmaline Oil Corp. (OTCMKTS:TRMLF - Get Free Report) was the recipient of a large growth in short interest during the month of 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. Approximately 7.9% of the shares of the stock are sold short. Based on an average daily volume of 120,300 shares, the short-interest ratio is presently 245.9 days.
Wall Street Analysts Forecast Growth
TRMLF has been the subject of a number of analyst reports. Cormark raised Tourmaline Oil to a "moderate buy" rating in a report on Friday, March 7th. Desjardins downgraded shares of Tourmaline Oil from a "moderate buy" rating to a "hold" rating in a report on Tuesday, March 18th. Finally, Morgan Stanley reissued a "cautious" rating on shares of Tourmaline Oil in a research note on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold".
Get Our Latest Report on TRMLF
Tourmaline Oil Trading Up 1.2 %
Shares of OTCMKTS TRMLF traded up $0.56 on Monday, reaching $48.24. 101,144 shares of the company traded hands, compared to its average volume of 77,414. The company has a 50 day moving average of $46.85 and a 200 day moving average of $46.10. 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 fifty-two week low of $36.93 and a fifty-two week high of $51.15. The stock has a market capitalization of $18.03 billion, a PE ratio of 14.89, a P/E/G ratio of 0.83 and a beta of -0.54.
Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $0.83 by ($0.05). Tourmaline Oil had a return on equity of 11.06% and a net margin of 27.12%. The company had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.59 billion. On average, equities research analysts forecast that Tourmaline Oil will post 2.52 earnings per share for the current fiscal year.
Tourmaline Oil Increases Dividend
The company also recently disclosed a dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.3504 dividend. This is a positive change from Tourmaline Oil's previous dividend of $0.24. This represents a dividend yield of 3.14%. The ex-dividend date is Friday, March 14th. Tourmaline Oil's payout ratio is currently 54.12%.
About Tourmaline Oil
(
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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.
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