Short Interest in Tourmaline Oil Corp. (OTCMKTS:TRMLF) Declines By 24.1%

Tourmaline Oil Corp. (OTCMKTS:TRMLF) saw a significant drop in short interest in October. As of October 15th, there was short interest totalling 8,172,100 shares, a drop of 24.1% from the September 30th total of 10,762,400 shares. Based on an average daily volume of 214,400 shares, the short-interest ratio is currently 38.1 days.

Tourmaline Oil Stock Down 0.5 %

TRMLF stock traded down $0.24 during trading on Tuesday, hitting $46.38. 69,686 shares of the stock traded hands, compared to its average volume of 49,073. Tourmaline Oil has a 1 year low of $36.93 and a 1 year high of $53.72. The firm’s 50 day moving average is $45.45 and its two-hundred day moving average is $46.08. The stock has a market cap of $17.22 billion and a price-to-earnings ratio of 12.57. 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 (OTCMKTS:TRMLF) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.53 EPS for the quarter. The company had revenue of $954.74 million for the quarter. Tourmaline Oil had a net margin of 25.15% and a return on equity of 10.68%. On average, sell-side analysts anticipate that Tourmaline Oil will post 3.1 EPS for the current year.

Tourmaline Oil Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, September 16th were issued a dividend of $0.259 per share. This represents a yield of 2.34%. The ex-dividend date of this dividend was Friday, September 13th. Tourmaline Oil’s dividend payout ratio (DPR) is currently 27.91%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TRMLF shares. Cibc World Mkts upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research note on Friday, October 18th. Royal Bank of Canada upgraded shares of Tourmaline Oil to a “moderate buy” rating in a report 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.