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

Tourmaline Oil Corp. (OTCMKTS:TRMLF) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 13,091,200 shares, an increase of 36.4% from the February 13th total of 9,596,100 shares. Based on an average trading volume of 133,100 shares, the days-to-cover ratio is presently 98.4 days. Currently, 3.5% of the shares of the company are sold short.

Tourmaline Oil Stock Performance

TRMLF traded down $0.71 during trading hours on Friday, hitting $44.69. The company’s stock had a trading volume of 213,428 shares, compared to its average volume of 85,189. Tourmaline Oil has a fifty-two week low of $36.93 and a fifty-two week high of $51.15. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $16.70 billion, a PE ratio of 13.79, a PEG ratio of 0.83 and a beta of -0.54. The company has a 50-day simple moving average of $46.80 and a 200 day simple moving average of $45.89.

Tourmaline Oil (OTCMKTS:TRMLF) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.59 billion. Tourmaline Oil had a net margin of 27.12% and a return on equity of 11.06%. As a group, sell-side analysts expect that Tourmaline Oil will post 2.52 EPS for the current year.

Tourmaline Oil Increases Dividend

The company also recently declared a dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.3504 per share. This is a positive change from Tourmaline Oil’s previous dividend of $0.24. This represents a yield of 3.14%. The ex-dividend date of this dividend is Friday, March 14th. Tourmaline Oil’s dividend payout ratio (DPR) is presently 38.43%.

Analyst Upgrades and Downgrades

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

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.