Tourmaline Oil (TSE:TOU) Stock Price Crosses Above Two Hundred Day Moving Average of $62.28

Tourmaline Oil Corp. (TSE:TOUGet Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$62.28 and traded as high as C$66.14. Tourmaline Oil shares last traded at C$65.74, with a volume of 1,299,594 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TOU. TD Securities dropped their price target on Tourmaline Oil from C$75.00 to C$72.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. Desjardins dropped their target price on Tourmaline Oil from C$75.00 to C$74.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. ATB Capital dropped their target price on Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 20th. Canaccord Genuity Group upped their target price on Tourmaline Oil from C$72.50 to C$73.50 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, Stifel Nicolaus upped their target price on Tourmaline Oil from C$75.00 to C$80.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$78.38.

Read Our Latest Analysis on TOU

Tourmaline Oil Stock Performance

The firm has a 50 day moving average price of C$65.96 and a 200-day moving average price of C$62.28. The company has a market cap of C$23.12 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.72 and a beta of 1.39. The company has a debt-to-equity ratio of 9.61, a quick ratio of 0.47 and a current ratio of 0.89.

Tourmaline Oil (TSE:TOUGet Free Report) last announced its earnings results on Wednesday, May 1st. The company reported C$0.69 earnings per share for the quarter, missing the consensus estimate of C$1.37 by C($0.68). Tourmaline Oil had a net margin of 35.78% and a return on equity of 12.72%. The business had revenue of C$1.31 billion for the quarter, compared to the consensus estimate of C$1.57 billion. On average, research analysts predict that Tourmaline Oil Corp. will post 4.4043109 EPS for the current year.

Tourmaline Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 28th will be given a $0.32 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.95%. Tourmaline Oil’s dividend payout ratio is currently 25.65%.

Insiders Place Their Bets

In related news, Senior Officer Mike Rose bought 2,500 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was acquired at an average cost of C$59.42 per share, with a total value of C$148,543.00. In the last quarter, insiders bought 15,000 shares of company stock worth $949,125. 5.41% of the stock is currently owned by company insiders.

About Tourmaline Oil

(Get Free Report)

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.

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