Tourmaline Oil (TSE:TOU) Stock Passes Above 200-Day Moving Average - Time to Sell?

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$65.03 and traded as high as C$69.47. Tourmaline Oil shares last traded at C$69.40, with a volume of 1,450,390 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have commented on TOU shares. CIBC increased their price target on shares of Tourmaline Oil from C$75.00 to C$80.00 in a research report on Friday, January 17th. National Bankshares lifted their target price on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an "outperform" rating in a research report on Thursday, December 19th. UBS Group upped their price target on shares of Tourmaline Oil from C$79.00 to C$80.00 in a research report on Thursday, February 13th. Cormark raised Tourmaline Oil from a "hold" rating to a "moderate buy" rating in a research note on Friday, March 7th. Finally, Jefferies Financial Group increased their target price on Tourmaline Oil from C$73.00 to C$76.00 in a report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Tourmaline Oil presently has a consensus rating of "Moderate Buy" and an average target price of C$78.56.

Tourmaline Oil Trading Down 9.0 %

The firm has a market cap of C$23.17 billion, a PE ratio of 14.04, a PEG ratio of 1.72 and a beta of 1.30. The firm has a fifty day simple moving average of C$67.14 and a two-hundred day simple moving average of C$65.29. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13.

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Tourmaline Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $0.50 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from Tourmaline Oil's previous quarterly dividend of $0.35. This represents a $2.00 annualized dividend and a yield of 3.22%. Tourmaline Oil's dividend payout ratio is 31.61%.

Insider Activity

In other Tourmaline Oil news, Director Jill Terilee Angevine bought 1,000 shares of the stock in a transaction dated Friday, January 31st. The stock was purchased at an average cost of C$66.63 per share, for a total transaction of C$66,630.00. Also, Senior Officer Mike Rose purchased 2,500 shares of the stock in a transaction dated Tuesday, January 7th. The stock was bought at an average cost of C$68.38 per share, with a total value of C$170,945.00. In the last 90 days, insiders have purchased 16,000 shares of company stock valued at $1,054,314. Corporate insiders own 5.13% of the company's stock.

About Tourmaline Oil

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.