Tourmaline Oil (TSE:TOU) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Tourmaline Oil Corp. (TSE:TOU)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$63.01 and traded as high as C$63.70. Tourmaline Oil shares last traded at C$62.54, with a volume of 10,052,429 shares trading hands.

Analyst Upgrades and Downgrades

TOU has been the topic of several analyst reports. Scotiabank raised their price target on shares of Tourmaline Oil from C$90.00 to C$93.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Canaccord Genuity Group dropped their price target on shares of Tourmaline Oil from C$75.00 to C$74.00 in a research note on Tuesday, October 22nd. National Bankshares set a C$72.50 target price on Tourmaline Oil and gave the stock a “buy” rating in a report on Tuesday, September 24th. Jefferies Financial Group increased their price target on Tourmaline Oil from C$67.00 to C$73.00 in a research note on Thursday, November 7th. Finally, Desjardins boosted their price objective on Tourmaline Oil from C$72.00 to C$75.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$78.41.

Tourmaline Oil Stock Down 1.5 %

The stock’s fifty day simple moving average is C$62.32 and its two-hundred day simple moving average is C$63.01. 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 capitalization of C$23.22 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 1.72 and a beta of 1.30.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings data on Wednesday, November 6th. The company reported C$1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.26 by C($0.26). The company had revenue of C$1.47 billion for the quarter, compared to analyst estimates of C$1.63 billion. Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. On average, sell-side analysts anticipate that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.

Tourmaline Oil Cuts Dividend

The business also recently disclosed a None dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a yield of 2.26%. Tourmaline Oil’s payout ratio is presently 33.18%.

Insiders Place Their Bets

In other news, Senior Officer William Scott Kirker sold 66,000 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of C$66.37, for a total value of C$4,380,274.80. Also, Senior Officer Mike Rose bought 5,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was acquired at an average price of C$61.59 per share, for a total transaction of C$307,945.00. In the last quarter, insiders have purchased 30,000 shares of company stock worth $1,817,265. Company insiders own 5.13% of the company’s stock.

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.