Short Interest in Tourmaline Oil Corp. (OTCMKTS:TRMLF) Rises By 51.9%

Tourmaline Oil Corp. (OTCMKTS:TRMLF) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 12,422,100 shares, an increase of 51.9% from the October 15th total of 8,175,300 shares. Based on an average daily volume of 80,800 shares, the short-interest ratio is presently 153.7 days.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Cibc World Mkts raised shares of Tourmaline Oil to a “strong-buy” rating in a research note on Friday, October 18th. Royal Bank of Canada raised shares of Tourmaline Oil to a “moderate buy” rating in a research note on Thursday, August 1st.

Tourmaline Oil Stock Down 1.2 %

Shares of TRMLF stock traded down $0.56 during trading on Thursday, reaching $45.11. The company’s stock had a trading volume of 39,346 shares, compared to its average volume of 49,248. The stock’s 50-day moving average price is $45.53 and its 200 day moving average price is $45.93. Tourmaline Oil has a 1-year low of $36.93 and a 1-year high of $51.15. The company has a market capitalization of $16.75 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 1.89 and a beta of -0.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.11 and a quick ratio of 1.11.

Tourmaline Oil Increases Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, November 26th. Investors of record on Monday, November 18th will be given a dividend of $0.3606 per share. This represents a yield of 3.16%. The ex-dividend date is Friday, November 15th. This is an increase from Tourmaline Oil’s previous dividend of $0.26. Tourmaline Oil’s dividend payout ratio is 31.79%.

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.