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

Tourmaline Oil Corp. (TSE:TOU)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$62.97 and traded as high as C$69.58. Tourmaline Oil shares last traded at C$69.34, with a volume of 2,139,259 shares.

Analyst Upgrades and Downgrades

TOU has been the topic of several recent analyst reports. CIBC boosted their price objective on shares of Tourmaline Oil from C$75.00 to C$80.00 in a research note on Friday, January 17th. National Bankshares boosted their price objective on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Jefferies Financial Group boosted their price objective on shares of Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th. UBS Group boosted their price objective on shares of Tourmaline Oil from C$70.00 to C$73.00 in a research note on Monday, December 9th. Finally, Canaccord Genuity Group decreased their price target on shares of Tourmaline Oil from C$75.00 to C$74.00 in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tourmaline Oil has an average rating of “Moderate Buy” and a consensus target price of C$77.82.

Tourmaline Oil Stock Performance

The stock’s fifty day moving average price is C$65.54 and its two-hundred day moving average price is C$62.98. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.47 and a current ratio of 1.11. The company has a market cap of C$25.74 billion, a P/E ratio of 16.43, a P/E/G ratio of 1.72 and a beta of 1.30.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, November 6th. The company reported C$1.00 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.26 by C($0.26). Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. The firm had revenue of C$1.47 billion for the quarter, compared to the consensus estimate of C$1.63 billion. As a group, equities analysts predict that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Monday, December 16th. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.32. Tourmaline Oil’s dividend payout ratio is 33.18%.

Insider Transactions at Tourmaline Oil

In related news, Senior Officer Mike Rose acquired 2,500 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average price of C$62.90 per share, with a total value of C$157,252.00. In the last 90 days, insiders bought 12,500 shares of company stock valued at $805,187. Company insiders own 5.13% of the company’s stock.

Tourmaline Oil Company Profile

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.