Tourmaline Oil (TSE:TOU) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Tourmaline Oil Corp. (TSE:TOU)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$61.29 and traded as high as C$62.28. Tourmaline Oil shares last traded at C$61.93, with a volume of 836,770 shares.

Analyst Ratings Changes

TOU has been the subject of a number of analyst reports. CIBC reduced their price objective on Tourmaline Oil from C$74.00 to C$71.00 in a research report on Wednesday, October 15th. TD Securities cut Tourmaline Oil from a “buy” rating to a “hold” rating and cut their target price for the company from C$73.00 to C$68.00 in a research note on Tuesday, September 30th. Scotiabank reduced their price target on shares of Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Desjardins raised shares of Tourmaline Oil from a “hold” rating to a “buy” rating and set a C$68.00 price objective on the stock in a report on Monday, November 24th. Finally, The Goldman Sachs Group upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$72.75.

Tourmaline Oil Price Performance

The business has a fifty day moving average price of C$61.90 and a 200 day moving average price of C$61.29. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. The company has a market capitalization of C$23.97 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 1.72 and a beta of 0.23.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, November 5th. The company reported C$0.49 earnings per share (EPS) for the quarter. Tourmaline Oil had a net margin of 28.53% and a return on equity of 11.08%. The firm had revenue of C$1.40 billion during the quarter. On average, research analysts expect that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, December 15th. Tourmaline Oil’s dividend payout ratio (DPR) is currently 52.86%.

Insider Buying and Selling

In other news, insider Mike Rose bought 10,000 shares of the business’s stock in a transaction on Friday, November 7th. The stock was purchased at an average cost of C$59.83 per share, for a total transaction of C$598,300.00. Following the completion of the transaction, the insider directly owned 8,197,742 shares of the company’s stock, valued at approximately C$490,470,903.86. This trade represents a 0.12% increase in their position. 5.13% of the stock is currently owned by insiders.

Tourmaline Oil Company Profile

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.