Short Interest in Tourmaline Oil Corp. (OTCMKTS:TRMLF) Rises By 51.9%

Tourmaline Oil Corp. (OTCMKTS:TRMLF) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 12,422,100 shares, an increase of 51.9% from the October 15th total of 8,175,300 shares. Based on an average daily trading volume, of 80,800 shares, the days-to-cover ratio is currently 153.7 days.

Tourmaline Oil Price Performance

Shares of Tourmaline Oil stock traded down $0.56 during trading on Thursday, reaching $45.11. 39,346 shares of the company’s stock were exchanged, compared to its average volume of 49,248. Tourmaline Oil has a 1-year low of $36.93 and a 1-year high of $51.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s 50-day moving average price is $45.53 and its 200 day moving average price is $45.93. The company has a market cap of $16.75 billion, a P/E ratio of 13.92, a PEG ratio of 1.89 and a beta of -0.81.

Tourmaline Oil Increases Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, November 26th. Stockholders of record on Monday, November 18th will be paid a $0.3606 dividend. The ex-dividend date is Friday, November 15th. This is an increase from Tourmaline Oil’s previous dividend of $0.26. This represents a dividend yield of 3.16%. Tourmaline Oil’s dividend payout ratio is 31.79%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Cibc World Mkts upgraded Tourmaline Oil to a “strong-buy” rating in a research report on Friday, October 18th. Royal Bank of Canada upgraded Tourmaline Oil to a “moderate buy” rating in a research note on Thursday, August 1st.

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.