Tourmaline Oil (TSE:TOU) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$62.42 and traded as high as C$67.75. Tourmaline Oil shares last traded at C$66.79, with a volume of 2,047,307 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TOU. UBS Group upped their price objective on shares of Tourmaline Oil from C$70.00 to C$73.00 in a research note on Monday, December 9th. Cormark upgraded shares of Tourmaline Oil to a "hold" rating in a research report on Monday, September 23rd. Canaccord Genuity Group decreased their price objective on Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. National Bankshares increased their target price 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. Finally, Jefferies Financial Group raised their price target on Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday, December 16th. Two 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 MarketBeat.com, Tourmaline Oil currently has an average rating of "Moderate Buy" and an average target price of C$78.42.

Tourmaline Oil Trading Down 0.9 %

The firm's 50 day moving average price is C$64.18 and its 200-day moving average price is C$62.39. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.11 and a quick ratio of 0.47. The stock has a market cap of C$24.79 billion, a P/E ratio of 15.83, a P/E/G ratio of 1.72 and a beta of 1.30.

Tourmaline Oil (TSE:TOU - Get Free Report) last issued 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 company had revenue of C$1.47 billion for the quarter, compared to the consensus estimate of C$1.63 billion. Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. As a group, equities research analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given 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 dividend on an annualized basis and a dividend yield of 2.10%. Tourmaline Oil's payout ratio is presently 33.18%.

Insider Buying and Selling

In other news, Senior Officer Mike Rose purchased 2,500 shares of the company's stock in a transaction on Monday, December 16th. The stock was acquired at an average cost of C$62.09 per share, for a total transaction of C$155,216.50. In the last three months, insiders have purchased 12,500 shares of company stock valued at $786,318. 5.13% of the stock is owned by company insiders.

Tourmaline Oil Company Profile

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.