Tourmaline Oil (TSE:TOU) Stock Passes Above 200-Day Moving Average – What’s Next?

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$62.42 and traded as high as C$67.75. Tourmaline Oil shares last traded at C$66.79, with a volume of 2,047,307 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Cormark raised Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd. National Bankshares upped their target price on Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Canaccord Genuity Group decreased their price target on shares of Tourmaline Oil from C$75.00 to C$74.00 in a research note on Tuesday, October 22nd. UBS Group upped their price objective on shares of Tourmaline Oil from C$70.00 to C$73.00 in a research note on Monday, December 9th. Finally, Jefferies Financial Group lifted their target price on shares of Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tourmaline Oil has a consensus rating of “Moderate Buy” and a consensus price target of C$78.42.

Tourmaline Oil Stock Down 0.9 %

The company has a market capitalization of C$24.79 billion, a P/E ratio of 15.83, a PEG ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.11 and a quick ratio of 0.47. The company has a 50 day moving average of C$64.18 and a 200-day moving average of C$62.42.

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

Tourmaline Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a $0.35 dividend. The ex-dividend date was Monday, December 16th. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 2.10%. Tourmaline Oil’s dividend payout ratio is 33.18%.

Insider Activity

In other news, Senior Officer Mike Rose bought 2,500 shares of the stock in a transaction dated Wednesday, October 9th. The stock was bought at an average price of C$63.95 per share, for a total transaction of C$159,875.00. In the last 90 days, insiders have purchased 12,500 shares of company stock valued at $786,318. Corporate insiders own 5.13% of the company’s stock.

Tourmaline Oil Company Profile

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.