Tourmaline Oil (TSE:TOU) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Tourmaline Oil Corp. (TSE:TOU) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$62.34 and traded as high as C$66.80. Tourmaline Oil shares last traded at C$63.80, with a volume of 2,575,067 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TOU shares. Jefferies Financial Group cut their target price on Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th. Desjardins increased their price target on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Royal Bank Of Canada cut their price objective on shares of Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating on the stock in a report on Friday, March 6th. ATB Cormark Capital Markets reduced their price objective on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a research report on Friday, March 6th. Finally, Raymond James Financial upped their target price on shares of Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Tourmaline Oil has a consensus rating of “Buy” and a consensus target price of C$71.22.

Tourmaline Oil Price Performance

The company has a debt-to-equity ratio of 12.25, a current ratio of 0.83 and a quick ratio of 0.47. The firm has a market cap of C$24.70 billion, a price-to-earnings ratio of 93.82, a PEG ratio of 1.72 and a beta of 0.00. The stock has a 50-day moving average price of C$64.22 and a 200 day moving average price of C$62.34.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, March 4th. The company reported C($1.72) earnings per share (EPS) for the quarter. The firm had revenue of C$1.66 billion during the quarter. Tourmaline Oil had a net margin of 5.03% and a return on equity of 1.65%. As a group, equities research analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a $0.50 dividend. The ex-dividend date was Monday, March 16th. This represents a $2.00 dividend on an annualized basis and a yield of 3.1%. Tourmaline Oil’s payout ratio is currently 294.12%.

Insider Buying and Selling at Tourmaline Oil

In other Tourmaline Oil news, insider Mike Rose bought 2,500 shares of the stock in a transaction dated Wednesday, March 25th. The shares were acquired at an average cost of C$68.50 per share, for a total transaction of C$171,250.00. Following the completion of the transaction, the insider owned 8,060,178 shares in the company, valued at approximately C$552,122,193. The trade was a 0.03% increase in their position. Insiders purchased 15,000 shares of company stock valued at $940,150 over the last three months. 5.13% of the stock is currently owned by corporate 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.