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

Tourmaline Oil Corp. (OTCMKTS:TRMLF) saw 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. Approximately 7.9% of the company’s stock are short sold. Based on an average trading volume of 120,300 shares, the short-interest ratio is currently 245.9 days.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Morgan Stanley reiterated a “cautious” rating on shares of Tourmaline Oil in a research note on Wednesday. Cormark upgraded Tourmaline Oil to a “moderate buy” rating in a research note on Friday, March 7th. Finally, Desjardins downgraded shares of Tourmaline Oil from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Tourmaline Oil Stock Down 0.9 %

OTCMKTS:TRMLF opened at $47.68 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $17.82 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 0.83 and a beta of -0.54. Tourmaline Oil has a one year low of $36.93 and a one year high of $51.15. The stock has a 50-day simple moving average of $46.85 and a 200 day simple moving average of $46.08.

Tourmaline Oil (OTCMKTS:TRMLF) last released its earnings results on Wednesday, March 5th. The company reported $0.78 EPS 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 firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.59 billion. Sell-side analysts predict that Tourmaline Oil will post 2.52 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.3504 dividend. This represents a yield of 3.14%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Tourmaline Oil’s previous dividend of $0.24. Tourmaline Oil’s payout ratio is currently 54.12%.

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.