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

Tourmaline Oil Corp. (TSE:TOU) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$61.60 and traded as high as C$66.59. Tourmaline Oil shares last traded at C$65.50, with a volume of 2,764,297 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TOU shares. The Goldman Sachs Group upgraded Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 13th. TD Securities lowered Tourmaline Oil from a “buy” rating to a “hold” rating and reduced their target price for the company from C$73.00 to C$68.00 in a report on Tuesday, September 30th. CIBC decreased their price target on Tourmaline Oil from C$74.00 to C$71.00 in a research report on Wednesday, October 15th. Desjardins raised shares of Tourmaline Oil from a “hold” rating to a “buy” rating and set a C$68.00 price target on the stock in a report on Monday, November 24th. Finally, Scotiabank reduced their price objective on shares of Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$73.30.

Tourmaline Oil Trading Up 2.1%

The stock has a market cap of C$25.35 billion, a PE ratio of 18.71, a PEG ratio of 1.72 and a beta of 0.23. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13. The firm has a fifty day simple moving average of C$61.52 and a two-hundred day simple moving average of C$61.60.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings data on Wednesday, November 5th. The company reported C$0.49 earnings per share for the quarter. Tourmaline Oil had a net margin of 28.53% and a return on equity of 11.08%. The company had revenue of C$1.40 billion for the quarter. As a group, equities analysts expect that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st will be given a $0.50 dividend. The ex-dividend date is Monday, December 15th. This represents a $2.00 annualized dividend and a yield of 3.1%. Tourmaline Oil’s payout ratio is 52.86%.

Insiders Place Their Bets

In other news, insider Mike Rose purchased 10,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was purchased at an average price of C$59.83 per share, with a total value of C$598,300.00. Following the completion of the purchase, the insider directly owned 8,197,742 shares in the company, valued at approximately C$490,470,903.86. This trade represents a 0.12% increase in their position. Insiders bought a total of 25,000 shares of company stock worth $1,508,428 in the last quarter. Company insiders own 5.13% of the company’s stock.

About Tourmaline Oil

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.