Tourmaline Oil (TSE:TOU) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

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$63.01 and traded as high as C$63.70. Tourmaline Oil shares last traded at C$62.54, with a volume of 10,052,429 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TOU shares. Cormark upgraded Tourmaline Oil to a “hold” rating in a report on Monday, September 23rd. Jefferies Financial Group upped their price objective on Tourmaline Oil from C$67.00 to C$73.00 in a report on Thursday, November 7th. TD Securities dropped their price objective on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Scotiabank upped their price objective on Tourmaline Oil from C$90.00 to C$93.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Finally, National Bankshares set a C$72.50 price objective on Tourmaline Oil and gave the stock a “buy” rating in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$78.41.

Tourmaline Oil Trading Down 1.5 %

The business’s 50-day moving average is C$62.32 and its two-hundred day moving average is C$63.01. The company has a current ratio of 1.11, a quick ratio of 0.47 and a debt-to-equity ratio of 10.24. The stock has a market capitalization of C$23.22 billion, a PE ratio of 14.82, a PEG ratio of 1.72 and a beta of 1.30.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings data on Wednesday, November 6th. The company reported C$1.00 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.26 by C($0.26). The firm had revenue of C$1.47 billion during the quarter, compared to analysts’ expectations of C$1.63 billion. Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. On average, analysts predict that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Cuts Dividend

The company also recently disclosed a None dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.50 dividend. The ex-dividend date was Friday, September 13th. This represents a yield of 2.26%. Tourmaline Oil’s payout ratio is currently 33.18%.

Insider Buying and Selling at Tourmaline Oil

In related news, Senior Officer Mike Rose purchased 5,000 shares of Tourmaline Oil stock in a transaction dated Friday, August 30th. The shares were acquired at an average price of C$61.12 per share, with a total value of C$305,622.00. Also, Senior Officer William Scott Kirker sold 66,000 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of C$66.37, for a total transaction of C$4,380,274.80. Insiders bought a total of 30,000 shares of company stock valued at $1,817,265 in the last ninety days. Insiders own 5.13% of the company’s stock.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.