Tourmaline Oil (TSE:TOU) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$62.59 and traded as high as C$69.04. Tourmaline Oil shares last traded at C$68.68, with a volume of 1,345,647 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. TD Securities lowered their price objective on Tourmaline Oil from C$77.00 to C$75.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. Canaccord Genuity Group dropped their price objective on shares of Tourmaline Oil from C$75.00 to C$74.00 in a research note on Tuesday, October 22nd. 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. Cormark upgraded shares of Tourmaline Oil to a "hold" rating in a research report on Monday, September 23rd. Finally, UBS Group increased their price target on Tourmaline Oil from C$70.00 to C$73.00 in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$78.42.

Tourmaline Oil Stock Performance

The firm has a market capitalization of C$25.11 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 1.72 and a beta of 1.30. 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's 50-day moving average is C$64.78 and its 200-day moving average is C$62.65.

Tourmaline Oil (TSE:TOU - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported C$1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.26 by C($0.26). Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. The company had revenue of C$1.47 billion for the quarter, compared to analyst estimates of C$1.63 billion. On average, analysts predict that Tourmaline Oil Corp. will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The firm 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. The ex-dividend date was Monday, December 16th. This represents a $1.40 annualized dividend and a dividend yield of 2.07%. This is an increase from Tourmaline Oil's previous quarterly dividend of $0.32. Tourmaline Oil's dividend payout ratio (DPR) is presently 33.18%.

Insider Activity at Tourmaline Oil

In other news, Senior Officer Mike Rose purchased 2,500 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were purchased at an average price of C$62.90 per share, for a total transaction of C$157,252.00. Insiders purchased 10,000 shares of company stock worth $639,078 over the last three months. Company 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.