Tourmaline Oil (TSE:TOU) Shares Cross Above 200-Day Moving Average – Time to Sell?

Tourmaline Oil Corp. (TSE:TOU) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$60.87 and traded as high as C$63.88. Tourmaline Oil shares last traded at C$62.74, with a volume of 1,313,481 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have commented on TOU shares. Scotiabank decreased their price objective on shares of Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating for the company in a research note on Wednesday, January 21st. Desjardins raised their target price on shares of Tourmaline Oil from C$68.00 to C$70.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Capital One Financial upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research report on Monday, October 27th. Raymond James Financial lowered their price target on shares of Tourmaline Oil from C$74.00 to C$72.00 in a report on Thursday, November 6th. Finally, Jefferies Financial Group reduced their price objective on Tourmaline Oil from C$72.00 to C$70.00 in a research note on Tuesday, January 20th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$71.56.

Tourmaline Oil Stock Performance

The firm’s 50 day moving average is C$61.18 and its 200-day moving average is C$60.87. The stock has a market capitalization of C$24.28 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.72 and a beta of 0.12. 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were given a $0.50 dividend. The ex-dividend date was Monday, December 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. Tourmaline Oil’s dividend payout ratio is 52.86%.

Insider Activity

In other Tourmaline Oil news, insider Mike Rose bought 10,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were purchased at an average cost of C$62.21 per share, for a total transaction of C$622,100.00. Following the transaction, the insider directly owned 8,042,678 shares of the company’s stock, valued at approximately C$500,334,998.38. The trade was a 0.12% increase in their ownership of the stock. 5.13% of the stock is currently owned by 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.