Tourmaline Oil (TSE:TOU) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Tourmaline Oil Corp. (TSE:TOU)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$63.83 and traded as high as C$69.69. Tourmaline Oil shares last traded at C$69.30, with a volume of 1,954,507 shares trading hands.

Analyst Ratings Changes

TOU has been the subject of several analyst reports. CIBC upped their price objective on Tourmaline Oil from C$75.00 to C$80.00 in a research report on Friday, January 17th. National Bankshares upped their price target on Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Jefferies Financial Group raised their price objective on shares of Tourmaline Oil from C$73.00 to C$76.00 in a report on Monday, December 16th. Finally, UBS Group boosted their price objective on shares of Tourmaline Oil from C$79.00 to C$80.00 in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$78.45.

Tourmaline Oil Stock Performance

The stock has a market cap of C$25.82 billion, a PE ratio of 15.65, a P/E/G ratio of 1.72 and a beta of 1.30. The firm’s 50-day moving average is C$66.61 and its 200 day moving average is C$63.83. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.35 per share. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.40 annualized dividend and a dividend yield of 2.02%. Tourmaline Oil’s dividend payout ratio is 31.61%.

Insider Activity at Tourmaline Oil

In other news, Director Jill Terilee Angevine bought 1,000 shares of Tourmaline Oil stock in a transaction dated Friday, January 31st. The stock was bought at an average price of C$66.63 per share, for a total transaction of C$66,630.00. Also, Senior Officer Mike Rose bought 2,500 shares of the stock in a transaction dated Thursday, December 12th. The stock was purchased at an average cost of C$62.90 per share, for a total transaction of C$157,252.00. Insiders have purchased 16,000 shares of company stock worth $1,047,918 in the last quarter. Company insiders own 5.13% of the company’s stock.

Tourmaline Oil Company Profile

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.