Tourmaline Oil Corp. (OTCMKTS:TRMLF) Short Interest Up 126.0% in March

Tourmaline Oil Corp. (OTCMKTS:TRMLF) was the target of a large increase in short interest during the month of 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 short-interest ratio is currently 245.9 days. Approximately 7.9% of the company’s stock are sold short.

Tourmaline Oil Stock Down 1.3 %

OTCMKTS:TRMLF traded down $0.65 during midday trading on Friday, hitting $48.09. 8,286 shares of the company were exchanged, compared to its average volume of 77,926. The company has a fifty day simple moving average of $46.83 and a 200 day simple moving average of $46.04. The company has a market capitalization of $17.97 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 0.83 and a beta of -0.54. 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.

Tourmaline Oil (OTCMKTS:TRMLF) last announced its 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 during the quarter, compared to analyst estimates of $1.59 billion. Tourmaline Oil had a net margin of 27.12% and a return on equity of 11.06%. As a group, equities analysts anticipate that Tourmaline Oil will post 2.52 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.3504 dividend. This represents a yield of 3.14%. This is a positive change from Tourmaline Oil’s previous dividend of $0.24. The ex-dividend date of this dividend is Friday, March 14th. Tourmaline Oil’s dividend payout ratio (DPR) is 54.12%.

Wall Street Analyst Weigh In

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

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.