Tourmaline Oil (OTCMKTS:TRMLF) Shares Gap Down – Should You Sell?

Shares of Tourmaline Oil Corp. (OTCMKTS:TRMLF) gapped down prior to trading on Friday. The stock had previously closed at $45.5298, but opened at $44.05. Tourmaline Oil shares last traded at $46.07, with a volume of 2,558 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently commented on TRMLF. The Goldman Sachs Group cut Tourmaline Oil from a “buy” rating to a “sell” rating in a report on Thursday, October 1st. Zacks Research upgraded Tourmaline Oil from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 25th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Tourmaline Oil in a research note on Friday, July 10th. Desjardins upgraded Tourmaline Oil to a “hold” rating in a report on Thursday, July 16th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Tourmaline Oil in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Tourmaline Oil presently has a consensus rating of “Hold” and a consensus target price of $65.00.

Tourmaline Oil Trading Up 1.5%

The stock has a market capitalization of $17.95 billion, a price-to-earnings ratio of 64.20 and a beta of -0.21. The company’s 50-day moving average is $44.23 and its 200-day moving average is $44.86. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.04.

Institutional Trading of Tourmaline Oil

A hedge fund recently bought a new position in Tourmaline Oil stock. Kahn Brothers Group Inc. purchased a new stake in Tourmaline Oil Corp. (OTCMKTS:TRMLF) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 26,959 shares of the company’s stock, valued at approximately $1,127,000. Institutional investors own 1.76% of the company’s stock.

About Tourmaline Oil

Tourmaline Oil Corp. is a Canadian natural gas exploration and production company headquartered in Calgary, Alberta. The company focuses on the acquisition, development and operation of long-life, resource-rich properties in the Western Canadian Sedimentary Basin.

Tourmaline’s operations are concentrated in three core areas: the Alberta Deep Basin, northeast British Columbia and the Peace River region of Alberta. Its production portfolio includes natural gas, natural gas liquids, condensate and crude oil, supported by related gathering, processing, transportation and marketing infrastructure.

The company was established in 2008 and has grown through exploration, development and strategic acquisitions.