Tourmaline Oil (TSE:TOU) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Tourmaline Oil Corp. (TSE:TOU) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$60.69 and traded as high as C$63.26. Tourmaline Oil shares last traded at C$61.49, with a volume of 4,773,618 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TOU. The Goldman Sachs Group raised shares of Tourmaline Oil to a “strong-buy” rating in a research report on Monday, October 13th. Capital One Financial upgraded Tourmaline Oil to a “strong-buy” rating in a research report on Monday, October 27th. Jefferies Financial Group decreased their price objective on Tourmaline Oil from C$72.00 to C$70.00 in a research note on Tuesday, January 20th. Scotiabank cut their price objective on Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating for the company in a research note on Wednesday, January 21st. Finally, Raymond James Financial decreased their target price on shares of Tourmaline Oil from C$74.00 to C$72.00 in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$71.56.

Tourmaline Oil Price Performance

The firm has a 50 day moving average of C$61.67 and a 200-day moving average of C$60.69. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13. The company has a market cap of C$23.80 billion, a P/E ratio of 17.57, a P/E/G ratio of 1.72 and a beta of -0.03.

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

Tourmaline Oil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, December 15th. Tourmaline Oil’s payout ratio is currently 52.86%.

Insider Activity at Tourmaline Oil

In other news, insider Mike Rose acquired 10,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was purchased at an average price 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 in the company, valued at approximately C$490,470,903.86. This trade represents a 0.12% increase in their position. 5.13% of the stock is owned by company insiders.

About Tourmaline Oil

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.