Tourmaline Oil Corp. (OTCMKTS:TRMLF) Short Interest Update

Tourmaline Oil Corp. (OTCMKTS:TRMLF) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 29,587,500 shares, an increase of 126.0% from the February 28th total of 13,091,200 shares. Based on an average daily volume of 120,300 shares, the days-to-cover ratio is currently 245.9 days. Currently, 7.9% of the shares of the company are short sold.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Desjardins lowered shares of Tourmaline Oil from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 18th. Morgan Stanley reaffirmed a “cautious” rating on shares of Tourmaline Oil in a research note on Wednesday. Finally, Cormark upgraded Tourmaline Oil to a “moderate buy” rating in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tourmaline Oil presently has an average rating of “Hold”.

Tourmaline Oil Price Performance

Shares of OTCMKTS TRMLF traded down $0.65 during mid-day trading on Friday, reaching $48.09. The company’s stock had a trading volume of 8,286 shares, compared to its average volume of 77,926. Tourmaline Oil has a 1-year low of $36.93 and a 1-year high of $51.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $17.97 billion, a P/E ratio of 14.84, a P/E/G ratio of 0.83 and a beta of -0.54. The stock has a 50-day moving average of $46.83 and a two-hundred day moving average of $46.04.

Tourmaline Oil (OTCMKTS:TRMLF) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). Tourmaline Oil had a net margin of 27.12% and a return on equity of 11.06%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.59 billion. On average, equities research analysts anticipate that Tourmaline Oil will post 2.52 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The firm also recently announced a dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.3504 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Tourmaline Oil’s previous dividend of $0.24. This represents a yield of 3.14%. Tourmaline Oil’s dividend 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.