Tourmaline Oil (TSE:TOU) Shares Cross Above 200 Day Moving Average – Time to Sell?

Tourmaline Oil Corp. (TSE:TOU)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$63.01 and traded as high as C$63.70. Tourmaline Oil shares last traded at C$62.54, with a volume of 10,052,429 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TOU. Desjardins increased their price target on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Canaccord Genuity Group lowered their target price on shares of Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. Jefferies Financial Group upped their price target on Tourmaline Oil from C$67.00 to C$73.00 in a research note on Thursday, November 7th. Cormark upgraded Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd. Finally, 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. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$78.41.

Tourmaline Oil Stock Performance

The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24. The stock has a market capitalization of C$23.22 billion, a P/E ratio of 14.82, a P/E/G ratio of 1.72 and a beta of 1.30. The business has a fifty day moving average price of C$62.32 and a 200-day moving average price of C$62.98.

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

Tourmaline Oil Cuts Dividend

The business also recently disclosed a None dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.50 per share. The ex-dividend date was Friday, September 13th. This represents a yield of 2.26%. Tourmaline Oil’s dividend payout ratio (DPR) is 33.18%.

Insiders Place Their Bets

In other Tourmaline Oil news, Senior Officer Mike Rose purchased 2,500 shares of Tourmaline Oil stock in a transaction dated Friday, November 8th. The stock was purchased at an average price of C$62.27 per share, with a total value of C$155,664.50. Also, Senior Officer William Scott Kirker sold 66,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of C$66.37, for a total transaction of C$4,380,274.80. In the last quarter, insiders purchased 30,000 shares of company stock valued at $1,817,265. Company insiders own 5.13% of the company’s stock.

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.