Tourmaline Oil (TSE:TOU) Shares Pass Above 200-Day Moving Average – Here’s Why

Shares of Tourmaline Oil Corp. (TSE:TOUGet Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$64.96 and traded as high as C$67.03. Tourmaline Oil shares last traded at C$66.63, with a volume of 6,048,528 shares traded.

Analyst Upgrades and Downgrades

TOU has been the subject of a number of recent research reports. UBS Group decreased their price target on shares of Tourmaline Oil from C$74.00 to C$71.00 in a research note on Thursday, April 17th. CIBC cut their target price on Tourmaline Oil from C$80.00 to C$72.50 in a research report on Thursday, April 10th. Desjardins increased their price target on shares of Tourmaline Oil from C$74.00 to C$76.00 and gave the company a “hold” rating in a research note on Tuesday, April 15th. TD Securities lowered their target price on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Finally, Cormark raised shares of Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$76.72.

Check Out Our Latest Report on Tourmaline Oil

Tourmaline Oil Price Performance

The company has a 50-day simple moving average of C$62.59 and a 200-day simple moving average of C$64.96. The company has a market cap of C$24.83 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01.

Tourmaline Oil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.00%. Tourmaline Oil’s dividend payout ratio (DPR) is presently 31.61%.

Insider Activity

In other news, Senior Officer William Scott Kirker sold 56,000 shares of Tourmaline Oil stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of C$64.94, for a total transaction of C$3,636,561.60. Also, Senior Officer Mike Rose acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average price of C$62.82 per share, for a total transaction of C$314,097.50. Insiders purchased 25,000 shares of company stock worth $1,590,592 in the last 90 days. 5.13% of the stock is currently owned by corporate insiders.

Tourmaline Oil Company Profile

(Get Free Report)

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.

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