Tourmaline Oil Corp. (OTCMKTS:TRMLF) Short Interest Update

Tourmaline Oil Corp. (OTCMKTS:TRMLF - Get Free Report) was the recipient of a large growth in short interest in 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. Currently, 7.9% of the company's stock are sold short. Based on an average trading volume of 120,300 shares, the days-to-cover ratio is presently 245.9 days.

Tourmaline Oil Stock Up 1.2 %

Shares of OTCMKTS TRMLF traded up $0.56 during trading hours on Tuesday, hitting $48.24. The stock had a trading volume of 101,144 shares, compared to its average volume of 77,414. The firm's 50-day moving average price is $46.89 and its two-hundred day moving average price is $46.14. Tourmaline Oil has a 52 week low of $36.93 and a 52 week high of $51.15. The company has a market capitalization of $18.03 billion, a P/E ratio of 14.89, a P/E/G ratio of 0.83 and a beta of -0.54. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.01 and a current ratio of 1.01.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.59 billion. Tourmaline Oil had a net margin of 27.12% and a return on equity of 11.06%. Analysts anticipate that Tourmaline Oil will post 2.52 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.3504 per share. This is a positive change from Tourmaline Oil's previous dividend of $0.24. The ex-dividend date of this dividend was Friday, March 14th. This represents a dividend yield of 3.14%. Tourmaline Oil's dividend payout ratio is currently 54.12%.

Wall Street Analysts Forecast Growth

TRMLF has been the topic of a number of research reports. Morgan Stanley reiterated a "cautious" rating on shares of Tourmaline Oil in a report on Wednesday, March 26th. Cormark upgraded shares of Tourmaline Oil to a "moderate buy" rating in a research note on Friday, March 7th. Finally, Desjardins lowered shares of Tourmaline Oil from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold".

About Tourmaline Oil

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.