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

Tourmaline Oil Corp. (TSE:TOU - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$63.06 and traded as high as C$65.40. Tourmaline Oil shares last traded at C$65.12, with a volume of 2,555,882 shares changing hands.

Analyst Upgrades and Downgrades

TOU has been the subject of several research analyst reports. National Bankshares set a C$72.50 price objective on shares of Tourmaline Oil and gave the company a "buy" rating in a research note on Tuesday, September 24th. Scotiabank upped their price target on shares of Tourmaline Oil from C$90.00 to C$93.00 and gave the company an "outperform" rating in a research report on Tuesday, August 13th. TD Securities reduced their target price on shares of 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. Jefferies Financial Group upped their price objective on Tourmaline Oil from C$67.00 to C$73.00 in a research note on Thursday. Finally, Desjardins lifted their target price on Tourmaline Oil from C$72.00 to C$75.00 and gave the company a "buy" rating in a research note on Tuesday, August 13th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$78.41.

Tourmaline Oil Trading Down 2.9 %

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 business's fifty day simple moving average is C$62.09 and its 200 day simple moving average is C$63.08. The stock has a market cap of C$23.48 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30.

Tourmaline Oil (TSE:TOU - Get Free Report) last issued its 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). The business had revenue of C$1.47 billion during 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, analysts expect that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.

Tourmaline Oil Cuts Dividend

The business also recently disclosed a None dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, September 13th. This represents a dividend yield of 2.26%. Tourmaline Oil's payout ratio is 33.18%.

Insider Transactions at Tourmaline Oil

In other Tourmaline Oil news, Director Jill Terilee Angevine bought 1,300 shares of the firm's stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of C$61.29 per share, with a total value of C$79,677.00. In related news, Senior Officer Mike Rose acquired 2,500 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The stock was acquired at an average price of C$63.32 per share, with a total value of C$158,310.00. Also, Director Jill Terilee Angevine purchased 1,300 shares of the stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of C$61.29 per share, with a total value of C$79,677.00. Insiders have acquired a total of 36,800 shares of company stock valued at $2,233,566 over the last 90 days. 5.13% of the stock is owned by corporate 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.