Tourmaline Oil (TSE:TOU) Stock Crosses Above 200 Day Moving Average of $63.05

Tourmaline Oil Corp. (TSE:TOU)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$63.05 and traded as high as C$69.09. Tourmaline Oil shares last traded at C$67.28, with a volume of 1,287,611 shares changing hands.

Wall Street Analyst Weigh In

TOU has been the subject of several research reports. ATB Capital cut their price objective on shares of Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating for the company in a research report on Wednesday, March 20th. Raymond James decreased their price objective on shares of Tourmaline Oil from C$90.00 to C$85.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 19th. CIBC boosted their target price on shares of Tourmaline Oil from C$72.50 to C$77.51 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. TD Securities cut their price target on shares of Tourmaline Oil from C$75.00 to C$72.00 and set a “buy” rating on the stock in a report on Thursday, March 7th. Finally, Scotiabank cut their price target on shares of Tourmaline Oil from C$100.00 to C$90.00 and set an “outperform” rating on the stock in a report on Tuesday, January 16th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$78.08.

Tourmaline Oil Stock Down 2.7 %

The stock has a market cap of C$23.65 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.72 and a beta of 1.40. The company has a debt-to-equity ratio of 8.04, a current ratio of 0.81 and a quick ratio of 0.47. The firm’s fifty day moving average price is C$62.91 and its two-hundred day moving average price is C$63.05.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 EPS for the quarter, topping analysts’ consensus estimates of C$1.41 by C$0.59. Tourmaline Oil had a net margin of 35.87% and a return on equity of 12.53%. The firm had revenue of C$1.66 billion for the quarter, compared to analyst estimates of C$1.49 billion. Sell-side analysts forecast that Tourmaline Oil Corp. will post 4.710507 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Thursday, March 14th. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.28. Tourmaline Oil’s dividend payout ratio (DPR) is 23.86%.

Insiders Place Their Bets

In related news, Senior Officer Mike Rose bought 5,000 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was purchased at an average cost of C$62.25 per share, with a total value of C$311,259.00. Insiders have bought a total of 12,630 shares of company stock valued at $743,877 in the last quarter. Insiders own 5.19% 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.