Tourmaline Oil (TSE:TOU) Stock Price Passes Above 200 Day Moving Average - What's Next?

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TOU shares. Jefferies Financial Group increased their target price on shares of Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday, December 16th. National Bankshares raised their price objective on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. UBS Group boosted their target price on Tourmaline Oil from C$79.00 to C$80.00 in a report on Thursday, February 13th. Finally, CIBC raised their price target on Tourmaline Oil from C$75.00 to C$80.00 in a report on Friday, January 17th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Tourmaline Oil has an average rating of "Moderate Buy" and a consensus price target of C$78.45.

Tourmaline Oil Price Performance

The stock has a 50-day simple moving average of C$66.74 and a 200 day simple moving average of C$63.90. The stock has a market capitalization of C$25.98 billion, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. 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 company also recently declared 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 represents a $1.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Monday, December 16th. This is a positive change from Tourmaline Oil's previous quarterly dividend of $0.32. Tourmaline Oil's dividend payout ratio is 31.61%.

Insider Buying and Selling

In other Tourmaline Oil news, Director Jill Terilee Angevine acquired 1,000 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average cost 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 on Tuesday, January 7th. The shares were acquired at an average cost of C$68.38 per share, with a total value of C$170,945.00. Insiders bought a total of 16,000 shares of company stock worth $1,047,918 over the last three months. 5.13% of the stock is currently owned by company insiders.

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.