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

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 trading hands.

Wall Street Analysts Forecast Growth

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

Tourmaline Oil Stock Performance

The company has a quick ratio of 0.47, a current ratio of 0.83 and a debt-to-equity ratio of 12.25. The business has a 50 day moving average price of C$63.52 and a two-hundred day moving average price of C$62.05. The stock has a market cap of C$26.53 billion, a P/E ratio of 100.75, a price-to-earnings-growth ratio of 1.72 and a beta of 0.00.

Tourmaline Oil (TSE:TOU) last issued its earnings results on Wednesday, March 4th. The company reported C($1.72) earnings per share (EPS) for the quarter. Tourmaline Oil had a net margin of 5.03% and a return on equity of 1.65%. The business had revenue of C$1.66 billion for the quarter. On average, sell-side analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, March 16th. Tourmaline Oil’s payout ratio is 294.12%.

Insider Buying and Selling at Tourmaline Oil

In related news, insider Mike Rose bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was purchased at an average price of C$62.21 per share, for a total transaction of C$622,100.00. Following the completion of the transaction, the insider owned 8,042,678 shares in the company, valued at C$500,334,998.38. The trade was a 0.12% increase in their ownership of the stock. Insiders have acquired a total of 15,000 shares of company stock worth $940,150 in 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.