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

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

Wall Street Analysts Forecast Growth

TRMLF has been the subject of several research analyst reports. Royal Bank of Canada upgraded Tourmaline Oil to a “moderate buy” rating in a research report on Thursday, August 1st. Cibc World Mkts upgraded Tourmaline Oil to a “strong-buy” rating in a report on Friday, October 18th.

Tourmaline Oil Stock Up 0.8 %

Tourmaline Oil stock traded up $0.37 during mid-day trading on Friday, reaching $46.62. 47,936 shares of the company’s stock were exchanged, compared to its average volume of 48,974. The company has a fifty day moving average of $45.43 and a 200-day moving average of $46.12. The company has a market cap of $16.41 billion and a P/E ratio of 12.63. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.10. Tourmaline Oil has a twelve month low of $36.93 and a twelve month high of $53.72.

Tourmaline Oil (OTCMKTS:TRMLF) last released its earnings results on Wednesday, July 31st. The company reported $0.53 EPS for the quarter. The firm had revenue of $954.74 million during the quarter. Tourmaline Oil had a return on equity of 10.68% and a net margin of 25.15%. Sell-side analysts expect that Tourmaline Oil will post 3.1 EPS for the current year.

Tourmaline Oil Cuts Dividend

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

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.