Tourmaline Oil (TSE:TOU) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Tourmaline Oil Corp. (TSE:TOU)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$62.97 and traded as high as C$68.17. Tourmaline Oil shares last traded at C$66.94, with a volume of 2,284,155 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. BMO Capital Markets cut Tourmaline Oil from an “outperform” rating to a “market perform” rating and raised their price target for the company from C$67.00 to C$70.00 in a report on Thursday, May 7th. Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, April 1st. Raymond James Financial raised their price target on Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Desjardins raised their price target on Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a report on Monday, March 9th. Finally, Royal Bank Of Canada cut their price target on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a report on Friday, March 6th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$71.00.

Tourmaline Oil Trading Up 0.4%

The stock has a market cap of C$26.11 billion, a PE ratio of 37.14, a PEG ratio of 1.72 and a beta of -0.12. The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88. The stock has a fifty day moving average price of C$64.98 and a 200 day moving average price of C$63.00.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share (EPS) for the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%.The firm had revenue of C$1.78 billion during the quarter. Equities analysts expect that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.

Tourmaline Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Monday, March 16th. Tourmaline Oil’s dividend payout ratio (DPR) is currently 110.50%.

Insider Buying and Selling

In other Tourmaline Oil news, insider James William Alexander Heard purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was purchased at an average cost of C$59.08 per share, with a total value of C$59,080.00. Following the purchase, the insider owned 66,476 shares of the company’s stock, valued at approximately C$3,927,402.08. The trade was a 1.53% increase in their ownership of the stock. Also, insider Mike Rose purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were acquired at an average cost of C$65.20 per share, with a total value of C$326,000.00. Following the completion of the purchase, the insider directly owned 8,085,178 shares in the company, valued at C$527,153,605.60. The trade was a 0.06% increase in their position. Insiders have purchased a total of 18,500 shares of company stock valued at $1,176,580 over the last three months. 5.13% of the stock is owned by corporate insiders.

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.