Tourmaline Oil (TSE:TOU) Stock Price Breaks Below 200 Day Moving Average – Time to Sell?

Tourmaline Oil Corp. (TSE:TOU) shares crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$63.17 and traded as low as C$62.65. Tourmaline Oil shares last traded at C$63.00, with a volume of 2,558,381 shares changing hands.

Analyst Upgrades and Downgrades

TOU has been the topic of several research analyst reports. Jefferies Financial Group upped their price objective on Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. TD lifted their target price on Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. ATB Cormark Capital Markets lifted their target price on Tourmaline Oil from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a research report on Thursday, October 22nd. The Goldman Sachs Group lowered shares of Tourmaline Oil from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, October 1st. Finally, Desjardins set a C$68.00 price target on shares of Tourmaline Oil and gave the stock a “hold” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Tourmaline Oil currently has a consensus rating of “Hold” and an average target price of C$70.80.

Tourmaline Oil Price Performance

The firm has a fifty day simple moving average of C$63.53 and a 200 day simple moving average of C$63.17. The company has a market capitalization of C$24.48 billion, a PE ratio of 68.48, a P/E/G ratio of 1.72 and a beta of -0.09. The company has a debt-to-equity ratio of 8.24, a quick ratio of 0.47 and a current ratio of 0.72.

Tourmaline Oil (TSE:TOU) last issued its earnings results on Wednesday, November 4th. The company reported C$1.64 earnings per share for the quarter. Tourmaline Oil had a return on equity of 2.37% and a net margin of 6.50%. The business had revenue of C$1.47 billion during the quarter. Equities analysts anticipate that Tourmaline Oil Corp. will post 5.68 EPS for the current year.

Insider Buying and Selling at Tourmaline Oil

In other news, insider Mike Rose acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 6th. The stock was purchased at an average cost of C$62.06 per share, for a total transaction of C$310,300.00. Following the completion of the acquisition, the insider directly owned 8,162,678 shares of the company’s stock, valued at C$506,575,796.68. The trade was a 0.06% increase in their position. Insiders bought 25,000 shares of company stock valued at $1,534,050 in the last ninety days. Insiders own 5.13% of the company’s stock.

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.