Tourmaline Oil (TSE:TOU) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Tourmaline Oil Corp. (TSE:TOU) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$63.31 and traded as high as C$63.90. Tourmaline Oil shares last traded at C$63.20, with a volume of 3,727,823 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TOU shares. Raymond James Financial raised their target price on shares of Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. Desjardins raised their target price on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Royal Bank Of Canada lowered their target price on shares of Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. ATB Cormark Capital Markets lowered their target price on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. Finally, BMO Capital Markets downgraded shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and raised their target price for the company from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Three 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$71.00.

Tourmaline Oil Price Performance

The stock has a market capitalization of C$24.54 billion, a PE ratio of 34.92, a P/E/G ratio of 1.72 and a beta of -0.24. The firm’s 50 day simple moving average is C$63.95 and its 200 day simple moving average is C$63.31. The company has a debt-to-equity ratio of 7.14, a current ratio of 0.88 and a quick ratio of 0.47.

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

Tourmaline Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be issued a $0.50 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. Tourmaline Oil’s dividend payout ratio (DPR) is currently 110.50%.

Insider Activity at Tourmaline Oil

In other news, insider James William Alexander Heard bought 1,000 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were purchased at an average price of C$59.08 per share, for a total transaction of C$59,080.00. Following the completion of the acquisition, the insider owned 66,476 shares of the company’s stock, valued at approximately C$3,927,402.08. This trade represents a 1.53% increase in their ownership of the stock. Also, insider Mike Rose purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of C$65.20 per share, for a total transaction of C$326,000.00. Following the acquisition, the insider owned 8,085,178 shares of the company’s stock, valued at C$527,153,605.60. This represents a 0.06% increase in their ownership of the stock. Insiders bought 33,500 shares of company stock worth $2,139,530 in the last 90 days. Company insiders own 5.13% of the company’s stock.

About Tourmaline Oil

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.