Tourmaline Oil (TSE:TOU) Share Price Passes Above 200 Day Moving Average – Should You 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$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 traded.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TOU shares. TD Securities lowered their price target on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. UBS Group lifted their target price on shares of Tourmaline Oil from C$70.00 to C$73.00 in a report on Monday, December 9th. National Bankshares upped their price target on Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Canaccord Genuity Group reduced their price objective on Tourmaline Oil from C$75.00 to C$74.00 in a research report on Tuesday, October 22nd. Finally, Cormark raised Tourmaline Oil to a “hold” rating in a report on Monday, September 23rd. Two equities research 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$78.42.

Tourmaline Oil Stock Performance

The company has a current ratio of 1.11, a quick ratio of 0.47 and a debt-to-equity ratio of 10.24. The company has a market cap of C$24.79 billion, a PE 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 two-hundred day moving average is C$62.39.

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

Tourmaline Oil Increases Dividend

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

Insider Activity at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer Mike Rose bought 2,500 shares of the company’s 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. In the last 90 days, insiders have purchased 12,500 shares of company stock worth $786,318. Company insiders own 5.13% of the company’s stock.

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.