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

Tourmaline Oil Corp. (TSE:TOU) 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TOU. National Bankshares set a C$72.50 price target on shares of Tourmaline Oil and gave the company a “buy” rating in a research report on Tuesday, September 24th. Scotiabank upped their target price on Tourmaline Oil from C$90.00 to C$93.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Canaccord Genuity Group lowered their price target on Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. Jefferies Financial Group boosted their price objective on Tourmaline Oil from C$67.00 to C$73.00 in a report on Thursday, November 7th. Finally, TD Securities lowered their target price on shares of 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 investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$78.41.

Tourmaline Oil Stock Down 1.5 %

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 stock’s 50 day moving average price is C$62.32 and its 200-day moving average price is C$62.98. The company has a market cap of C$23.22 billion, a PE ratio of 14.82, a PEG ratio of 1.72 and a beta of 1.30.

Tourmaline Oil (TSE:TOU) last posted its quarterly 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 business had revenue of C$1.47 billion for the quarter, compared to analysts’ expectations of C$1.63 billion. Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. On average, analysts predict that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Cuts Dividend

The company also recently declared a None dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued 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 is currently 33.18%.

Insider Buying and Selling at Tourmaline Oil

In related news, Senior Officer Mike Rose purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were acquired at an average price of C$61.12 per share, for a total transaction of C$305,622.00. Also, Director Jill Terilee Angevine acquired 2,500 shares of Tourmaline Oil stock in a transaction on Wednesday, September 25th. The shares were bought at an average cost of C$59.85 per share, for a total transaction of C$149,625.00. Insiders bought 30,000 shares of company stock valued at $1,817,265 in the last quarter. 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.