Tourmaline Oil (TSE:TOU) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

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$61.93 and traded as high as C$69.68. Tourmaline Oil shares last traded at C$68.05, with a volume of 2,317,548 shares traded.

Analyst Ratings Changes

Several equities analysts have commented on TOU shares. Canadian Imperial Bank of Commerce dropped their price target on shares of Tourmaline Oil from C$71.00 to C$66.00 in a research note on Tuesday, January 13th. Jefferies Financial Group reduced their price objective on shares of Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th. Desjardins upped their target price on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a report on Monday, March 9th. Scotiabank dropped their target price on shares of Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 21st. Finally, Raymond James Financial lifted their price target on shares of Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$71.22.

Tourmaline Oil Stock Down 2.1%

The business’s fifty day moving average price is C$63.12 and its 200 day moving average price is C$61.93. The firm has a market capitalization of C$26.35 billion, a price-to-earnings ratio of 100.07, a PEG ratio of 1.72 and a beta of 0.00. The company has a current ratio of 0.83, a quick ratio of 0.47 and a debt-to-equity ratio of 12.25.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, March 4th. The company reported C($1.72) earnings per share for the quarter. The business had revenue of C$1.66 billion for the quarter. Tourmaline Oil had a return on equity of 1.65% and a net margin of 5.03%. On average, equities analysts expect 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 will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.9%. Tourmaline Oil’s dividend payout ratio (DPR) is currently 294.12%.

Insiders Place Their Bets

In other news, insider Mike Rose acquired 10,000 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were bought at an average cost of C$62.21 per share, with a total value of C$622,100.00. Following the purchase, the insider owned 8,042,678 shares of the company’s stock, valued at C$500,334,998.38. This represents a 0.12% increase in their position. 5.13% of the stock is currently owned by company 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.