Tourmaline Oil (TSE:TOU) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Shares of Tourmaline Oil Corp. (TSE:TOU) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$62.42 and traded as high as C$67.75. Tourmaline Oil shares last traded at C$66.79, with a volume of 2,047,307 shares trading hands.

Wall Street Analyst Weigh In

TOU has been the subject of a number of recent research reports. UBS Group boosted their price objective on shares of Tourmaline Oil from C$70.00 to C$73.00 in a research note on Monday, December 9th. National Bankshares raised their price objective on Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. TD Securities cut their target price on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Canaccord Genuity Group decreased their price target on shares of Tourmaline Oil from C$75.00 to C$74.00 in a research report on Tuesday, October 22nd. Finally, Cormark raised shares of Tourmaline Oil to a “hold” rating in a research report on Monday, September 23rd. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tourmaline Oil currently has an average rating of “Moderate Buy” and an average target price of C$78.42.

Tourmaline Oil Stock Down 0.9 %

The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.47 and a current ratio of 1.11. The company has a market capitalization of C$24.79 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 1.72 and a beta of 1.30. The business’s 50 day moving average is C$64.18 and its 200 day moving average is C$62.39.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings data on Wednesday, November 6th. The company reported C$1.00 EPS for the quarter, missing the consensus estimate of C$1.26 by C($0.26). Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. The company had revenue of C$1.47 billion for the quarter, compared to analyst estimates of C$1.63 billion. Sell-side analysts anticipate that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were issued a $0.35 dividend. The ex-dividend date was Monday, December 16th. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.10%. Tourmaline Oil’s dividend payout ratio is currently 33.18%.

Insider Transactions at Tourmaline Oil

In related news, Senior Officer Mike Rose acquired 2,500 shares of Tourmaline Oil stock in a transaction on Tuesday, October 15th. The stock was acquired at an average price of C$63.32 per share, for a total transaction of C$158,310.00. Insiders bought a total of 12,500 shares of company stock worth $786,318 over the last three months. 5.13% of the stock is currently owned by insiders.

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.