Tourmaline Oil (TSE:TOU) Stock Crosses Above Two Hundred Day Moving Average of $74.57

Shares of Tourmaline Oil Corp. (TSE:TOUGet Rating) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$74.57 and traded as high as C$80.70. Tourmaline Oil shares last traded at C$80.47, with a volume of 201,994 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TOU shares. Scotiabank upped their price target on Tourmaline Oil from C$116.00 to C$117.00 in a research report on Thursday, October 13th. ATB Capital upped their price target on Tourmaline Oil from C$85.00 to C$90.00 in a research report on Friday, July 29th. Raymond James upped their price target on Tourmaline Oil from C$90.00 to C$95.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 3rd. CIBC upped their price target on Tourmaline Oil from C$90.00 to C$100.00 in a research report on Monday, August 22nd. Finally, National Bankshares upped their price target on Tourmaline Oil from C$85.00 to C$100.00 and gave the company an “outperform” rating in a research report on Thursday, November 3rd. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Tourmaline Oil has a consensus rating of “Buy” and a consensus target price of C$91.55.

Tourmaline Oil Price Performance

The company has a debt-to-equity ratio of 3.16, a current ratio of 1.28 and a quick ratio of 0.47. The company has a 50-day simple moving average of C$76.75 and a two-hundred day simple moving average of C$74.57. The stock has a market capitalization of C$27.20 billion and a price-to-earnings ratio of 4.89.

Tourmaline Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 29th were given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Wednesday, September 14th. Tourmaline Oil’s dividend payout ratio is presently 5.04%.

Insiders Place Their Bets

In other Tourmaline Oil news, Senior Officer Mike Rose purchased 5,000 shares of the stock in a transaction dated Friday, September 23rd. The shares were bought at an average cost of C$69.59 per share, with a total value of C$347,955.00. Following the completion of the acquisition, the insider now owns 8,859,974 shares of the company’s stock, valued at C$616,574,450.63. In other Tourmaline Oil news, Director Janet Weiss purchased 414 shares of the stock in a transaction dated Friday, September 23rd. The shares were bought at an average cost of C$65.66 per share, with a total value of C$27,183.65. Following the completion of the acquisition, the director now owns 9,383 shares of the company’s stock, valued at C$616,097.16. Also, Senior Officer Mike Rose purchased 5,000 shares of the stock in a transaction dated Friday, September 23rd. The shares were acquired at an average cost of C$69.59 per share, for a total transaction of C$347,955.00. Following the completion of the acquisition, the insider now directly owns 8,859,974 shares of the company’s stock, valued at approximately C$616,574,450.63. Insiders have purchased 10,414 shares of company stock valued at $762,297 over the last three months.

Tourmaline Oil Company Profile

(Get Rating)

Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. The company was incorporated in 2008 and is headquartered in Calgary, Canada.

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