Tourmaline Oil Corp. (OTCMKTS:TRMLF – Get Free Report) was the target of a significant increase in short interest during 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 currently 98.4 days. Currently, 3.5% of the shares of the stock are sold short.
Analyst Ratings Changes
Separately, Cormark upgraded shares of Tourmaline Oil to a “moderate buy” rating in a research report on Friday, March 7th.
Read Our Latest Stock Report on TRMLF
Tourmaline Oil Stock Performance
Tourmaline Oil (OTCMKTS:TRMLF – Get Free Report) last released 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). Tourmaline Oil had a return on equity of 11.06% and a net margin of 27.12%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.59 billion. Sell-side analysts expect that Tourmaline Oil will post 2.52 EPS for the current year.
Tourmaline Oil Increases Dividend
The business also recently declared a dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.3504 dividend. This is an increase from Tourmaline Oil’s previous dividend of $0.24. This represents a yield of 3.14%. The ex-dividend date is Friday, March 14th. Tourmaline Oil’s dividend payout ratio is presently 38.43%.
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.
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