Desjardins Downgrades Tourmaline Oil (OTCMKTS:TRMLF) to Hold

Desjardins cut shares of Tourmaline Oil (OTCMKTS:TRMLF) from a moderate buy rating to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

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

Tourmaline Oil Price Performance

Shares of OTCMKTS TRMLF opened at $46.74 on Tuesday. The stock has a market cap of $17.46 billion, a P/E ratio of 14.43, a P/E/G ratio of 0.83 and a beta of -0.54. Tourmaline Oil has a twelve month low of $36.93 and a twelve month high of $51.15. The stock has a 50 day moving average of $46.74 and a two-hundred day moving average of $45.90. 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 (OTCMKTS:TRMLF) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.05). Tourmaline Oil had a net margin of 27.12% and a return on equity of 11.06%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.59 billion. On average, research analysts forecast that Tourmaline Oil will post 2.52 earnings per share for the current 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 paid a $0.3504 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Tourmaline Oil’s previous dividend of $0.24. This represents a dividend yield of 3.14%. Tourmaline Oil’s payout ratio is 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.