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

Tourmaline Oil Corp. (OTCMKTS:TRMLF) was the target of a significant drop in short interest in the month of 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 presently 38.1 days.

Tourmaline Oil Trading Down 0.5 %

Shares of TRMLF stock traded down $0.24 during trading hours on Tuesday, hitting $46.38. The company had a trading volume of 69,686 shares, compared to its average volume of 49,073. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $17.22 billion and a PE ratio of 12.57. The company’s fifty day moving average is $45.45 and its 200 day moving average is $46.08. Tourmaline Oil has a fifty-two week low of $36.93 and a fifty-two week high of $53.72.

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

Tourmaline Oil Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TRMLF. Royal Bank of Canada upgraded shares of Tourmaline Oil to a “moderate buy” rating in a report on Thursday, August 1st. Cibc World Mkts upgraded Tourmaline Oil to a “strong-buy” rating in a research note on Friday, October 18th.

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.