Tourmaline Oil (TSE:TOU) Stock Price Crosses Above 200-Day Moving Average of $62.20

Tourmaline Oil Corp. (TSE:TOU) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$62.20 and traded as high as C$62.75. Tourmaline Oil shares last traded at C$62.05, with a volume of 1,474,677 shares.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TOU shares. TD Securities dropped their price target on Tourmaline Oil from C$75.00 to C$72.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. CIBC lifted their target price on shares of Tourmaline Oil from C$77.50 to C$80.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Stifel Nicolaus upped their price target on shares of Tourmaline Oil from C$75.00 to C$80.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. UBS Group upgraded Tourmaline Oil to a “hold” rating in a report on Thursday, June 20th. Finally, Jefferies Financial Group increased their target price on Tourmaline Oil from C$70.00 to C$75.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Tourmaline Oil currently has an average rating of “Buy” and an average target price of C$78.38.

Tourmaline Oil Price Performance

The company’s 50-day moving average is C$65.71 and its two-hundred day moving average is C$62.23. The company has a debt-to-equity ratio of 9.61, a current ratio of 0.89 and a quick ratio of 0.47. The firm has a market cap of C$21.82 billion, a P/E ratio of 12.43, a PEG ratio of 1.72 and a beta of 1.39.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings data on Wednesday, May 1st. The company reported C$0.69 EPS for the quarter, missing the consensus estimate of C$1.37 by C($0.68). The firm had revenue of C$1.31 billion for the quarter, compared to analyst estimates of C$1.57 billion. Tourmaline Oil had a net margin of 35.78% and a return on equity of 12.72%. Sell-side analysts anticipate that Tourmaline Oil Corp. will post 4.4043109 EPS for the current fiscal year.

Tourmaline Oil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 28th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Friday, June 14th. Tourmaline Oil’s dividend payout ratio is presently 25.65%.

Insider Transactions at Tourmaline Oil

In related news, Senior Officer Mike Rose acquired 2,500 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was acquired at an average cost of C$66.43 per share, for a total transaction of C$166,064.50. Over the last 90 days, insiders purchased 15,000 shares of company stock valued at $968,965. 5.41% of the stock is currently owned by insiders.

About Tourmaline Oil

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.