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

Tourmaline Oil Corp. (OTCMKTS:TRMLF) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 11,192,100 shares, a growth of 92.9% from the July 15th total of 5,803,500 shares. Based on an average daily volume of 23,500 shares, the days-to-cover ratio is currently 476.3 days.

Tourmaline Oil Stock Performance

TRMLF traded up $0.61 during trading hours on Wednesday, hitting $45.34. 11,233 shares of the stock were exchanged, compared to its average volume of 33,847. The stock has a 50-day simple moving average of $44.89 and a 200-day simple moving average of $45.72. Tourmaline Oil has a 12 month low of $36.93 and a 12 month high of $53.91. The stock has a market cap of $15.98 billion and a price-to-earnings ratio of 12.12. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.90 and a quick ratio of 0.90.

Tourmaline Oil (OTCMKTS:TRMLF) last posted its earnings results on Wednesday, July 31st. The company reported $0.53 earnings per share (EPS) for the quarter. The company had revenue of $954.74 million for the quarter. Tourmaline Oil had a return on equity of 10.71% and a net margin of 25.15%.

Tourmaline Oil Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Monday, August 12th will be paid a $0.3619 dividend. This represents a yield of 3.29%. This is a boost from Tourmaline Oil’s previous dividend of $0.23. The ex-dividend date of this dividend is Friday, August 9th. Tourmaline Oil’s dividend payout ratio (DPR) is presently 25.47%.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada upgraded Tourmaline Oil to a “moderate buy” rating in a research note on Thursday, August 1st.

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.