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

Shares of Tourmaline Oil Corp. (TSE:TOU) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$60.71 and traded as high as C$61.89. Tourmaline Oil shares last traded at C$60.91, with a volume of 5,651,240 shares trading hands.

Analysts Set New Price Targets

Several brokerages recently weighed in on TOU. Jefferies Financial Group cut their price target on shares of Tourmaline Oil from C$72.00 to C$70.00 in a report on Tuesday, January 20th. Canadian Imperial Bank of Commerce cut their price objective on shares of Tourmaline Oil from C$71.00 to C$66.00 in a research note on Tuesday, January 13th. Raymond James Financial decreased their target price on shares of Tourmaline Oil from C$74.00 to C$72.00 in a research report on Thursday, November 6th. Desjardins increased their price target on Tourmaline Oil from C$68.00 to C$70.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Finally, Capital One Financial upgraded Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 27th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Tourmaline Oil currently has a consensus rating of “Buy” and a consensus price target of C$71.56.

Tourmaline Oil Stock Down 1.5%

The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01. The business’s 50 day moving average is C$61.51 and its 200-day moving average is C$60.71. The stock has a market cap of C$23.57 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.72 and a beta of 0.12.

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 business had revenue of C$1.40 billion for the quarter. On average, sell-side analysts predict that Tourmaline Oil Corp. will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Dividend Announcement

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

Insider Transactions at Tourmaline Oil

In other Tourmaline Oil news, insider Mike Rose bought 2,500 shares of the company’s stock in a transaction dated Wednesday, January 14th. The stock was acquired at an average price of C$58.72 per share, with a total value of C$146,800.00. Following the completion of the acquisition, the insider directly owned 8,032,678 shares of the company’s stock, valued at C$471,678,852.16. This represents a 0.03% increase in their ownership of the stock. 5.13% of the stock is currently 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.