Tourmaline Oil (TSE:TOU) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

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$62.97 and traded as high as C$69.58. Tourmaline Oil shares last traded at C$69.34, with a volume of 2,139,259 shares trading hands.

Analyst Ratings Changes

Several brokerages have issued reports on TOU. TD Securities decreased 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. CIBC increased their price objective on shares of Tourmaline Oil from C$75.00 to C$80.00 in a research report on Friday, January 17th. UBS Group increased their price objective on shares of Tourmaline Oil from C$70.00 to C$73.00 in a research report on Monday, December 9th. Jefferies Financial Group increased their price objective on shares of Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday, December 16th. Finally, National Bankshares increased their price objective on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$77.82.

Tourmaline Oil Price Performance

The stock has a market capitalization of C$25.74 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The business’s 50 day simple moving average is C$65.54 and its two-hundred day simple moving average is C$62.98. The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24.

Tourmaline Oil (TSE:TOU) last released 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 business had revenue of C$1.47 billion during the quarter, compared to the consensus estimate of C$1.63 billion. As a group, sell-side analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were given a dividend of $0.35 per share. 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 2.02%. 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 related news, Senior Officer Mike Rose acquired 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was acquired at an average price of C$66.44 per share, for a total transaction of C$166,109.00. Insiders have bought 12,500 shares of company stock valued at $805,187 over the last ninety days. Corporate 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.