Tourmaline Oil (TSE:TOU) Shares Cross Above 200 Day Moving Average – Should You Sell?

Tourmaline Oil Corp. (TSE:TOU) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$62.97 and traded as high as C$68.17. Tourmaline Oil shares last traded at C$66.94, with a volume of 2,284,155 shares.

Analyst Ratings Changes

Several research analysts have weighed in on TOU shares. Royal Bank Of Canada lowered their price objective on shares of Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating on the stock in a report on Friday, March 6th. BMO Capital Markets downgraded shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from C$67.00 to C$70.00 in a report on Thursday, May 7th. Canaccord Genuity Group downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective on the stock. in a report on Thursday, May 7th. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, April 1st. Finally, Raymond James Financial upped their price objective on shares of Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$71.00.

Tourmaline Oil Stock Performance

The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88. The stock has a market cap of C$25.99 billion, a P/E ratio of 36.98, a price-to-earnings-growth ratio of 1.72 and a beta of -0.12. The company’s 50 day moving average price is C$64.93 and its 200-day moving average price is C$62.97.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share (EPS) for the quarter. Tourmaline Oil had a net margin of 12.79% and a return on equity of 4.40%. The firm had revenue of C$1.78 billion during the quarter. Equities analysts forecast that Tourmaline Oil Corp. will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were paid a $0.50 dividend. The ex-dividend date was Monday, March 16th. This represents a $2.00 annualized dividend and a dividend yield of 3.0%. Tourmaline Oil’s dividend payout ratio is presently 110.50%.

Insider Buying and Selling at Tourmaline Oil

In related news, insider James William Alexander Heard purchased 1,000 shares of Tourmaline Oil stock in a transaction that occurred on Friday, April 17th. The stock was bought at an average price of C$59.08 per share, for a total transaction of C$59,080.00. Following the completion of the transaction, the insider owned 66,476 shares in the company, valued at C$3,927,402.08. This represents a 1.53% increase in their ownership of the stock. Also, insider Mike Rose purchased 5,000 shares of Tourmaline Oil stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of C$65.20 per share, with a total value of C$326,000.00. Following the transaction, the insider owned 8,085,178 shares of the company’s stock, valued at C$527,153,605.60. This trade represents a 0.06% increase in their position. In the last quarter, insiders bought 18,500 shares of company stock valued at $1,176,580. Company insiders own 5.13% of the company’s stock.

Tourmaline Oil Company Profile

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.