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

Tourmaline Oil Corp. (OTCMKTS:TRMLF) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 11,192,100 shares, a growth of 92.9% from the July 15th total of 5,803,500 shares. Based on an average trading volume of 23,500 shares, the short-interest ratio is currently 476.3 days.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada upgraded shares of Tourmaline Oil to a “moderate buy” rating in a research report on Thursday, August 1st.

Tourmaline Oil Price Performance

TRMLF traded up $0.61 during trading on Wednesday, hitting $45.34. 11,233 shares of the company traded hands, compared to its average volume of 33,847. The company has a market cap of $15.98 billion and a PE ratio of 12.12. The stock’s 50-day simple moving average is $44.89 and its two-hundred day simple moving average is $45.72. Tourmaline Oil has a 1 year low of $36.93 and a 1 year high of $53.91. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09.

Tourmaline Oil (OTCMKTS:TRMLF) last posted its earnings results on Wednesday, July 31st. The company reported $0.53 earnings per share for the quarter. The company had revenue of $954.74 million during the quarter. Tourmaline Oil had a net margin of 25.15% and a return on equity of 10.71%.

Tourmaline Oil Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, August 21st. Investors of record on Monday, August 12th will be paid a dividend of $0.3619 per share. This represents a yield of 3.29%. This is a boost from Tourmaline Oil’s previous dividend of $0.23. The ex-dividend date of this dividend is Friday, August 9th. Tourmaline Oil’s dividend payout ratio (DPR) is presently 25.47%.

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.