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

Tourmaline Oil Corp. (TSE:TOU)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$65.03 and traded as high as C$69.47. Tourmaline Oil shares last traded at C$69.40, with a volume of 1,450,390 shares trading hands.

Wall Street Analyst Weigh In

TOU has been the subject of several recent analyst reports. Jefferies Financial Group increased their target price on Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th. Desjardins downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and lowered their price objective for the stock from C$80.00 to C$74.00 in a research note on Wednesday, March 19th. UBS Group upped their target price on shares of Tourmaline Oil from C$79.00 to C$80.00 in a research note on Thursday, February 13th. Cormark upgraded shares of Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a report on Friday, March 7th. Finally, CIBC upped their price objective on shares of Tourmaline Oil from C$75.00 to C$80.00 in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$78.56.

Tourmaline Oil Stock Performance

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 stock has a market capitalization of C$26.33 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The stock’s 50 day moving average is C$67.30 and its two-hundred day moving average is C$65.15.

Tourmaline Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.50 per share. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.35. This represents a $2.00 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend was Friday, March 14th. Tourmaline Oil’s dividend payout ratio is 31.61%.

Insider Buying and Selling

In other news, Director Jill Terilee Angevine acquired 1,000 shares of Tourmaline Oil stock in a transaction dated Friday, January 31st. The stock was bought at an average price of C$66.63 per share, for a total transaction of C$66,630.00. Also, Senior Officer Mike Rose bought 2,500 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was purchased at an average cost of C$64.25 per share, for a total transaction of C$160,612.50. Over the last 90 days, insiders acquired 16,000 shares of company stock worth $1,054,314. Company insiders own 5.13% of the company’s stock.

About Tourmaline Oil

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.