Tourmaline Oil (TSE:TOU) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Tourmaline Oil Corp. (TSE:TOU)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$62.59 and traded as high as C$69.04. Tourmaline Oil shares last traded at C$68.68, with a volume of 1,345,647 shares.

Analysts Set New Price Targets

A number of research firms recently weighed in on TOU. UBS Group boosted their price target on shares of Tourmaline Oil from C$70.00 to C$73.00 in a research note on Monday, December 9th. Cormark upgraded shares of Tourmaline Oil to a “hold” rating in a research report on Monday, September 23rd. National Bankshares raised their price target on Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Jefferies Financial Group upped their price objective on Tourmaline Oil from C$73.00 to C$76.00 in a report on Monday, December 16th. Finally, TD Securities decreased their target price on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Two investment 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$78.42.

Tourmaline Oil Stock Up 1.6 %

The firm has a fifty day moving average of C$64.68 and a 200-day moving average of C$62.59. The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24. The firm has a market cap of C$25.49 billion, a P/E ratio of 16.27, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30.

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

Tourmaline Oil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.35 per share. The ex-dividend date was Monday, December 16th. This represents a $1.40 dividend on an annualized basis and a yield of 2.04%. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.32. Tourmaline Oil’s dividend payout ratio (DPR) is presently 33.18%.

Insider Buying and Selling at Tourmaline Oil

In related news, Senior Officer Mike Rose purchased 2,500 shares of the stock in a transaction on Thursday, December 12th. The shares were purchased at an average cost of C$62.90 per share, with a total value of C$157,252.00. Insiders have acquired 10,000 shares of company stock worth $639,078 over the last 90 days. Company 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.