Tourmaline Oil (TSE:TOU) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Tourmaline Oil Corp. (TSE:TOU) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$65.03 and traded as high as C$69.47. Tourmaline Oil shares last traded at C$69.40, with a volume of 1,450,390 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TOU. National Bankshares boosted their target price on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Cormark raised shares of Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a report on Friday, March 7th. Desjardins cut shares of Tourmaline Oil from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$80.00 to C$74.00 in a report on Wednesday, March 19th. Jefferies Financial Group boosted their price target on Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th. Finally, UBS Group raised their price objective on Tourmaline Oil from C$79.00 to C$80.00 in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Tourmaline Oil presently has a consensus rating of “Moderate Buy” and a consensus price target of C$78.56.

Tourmaline Oil Trading Up 1.8 %

The firm’s 50-day simple moving average is C$67.24 and its 200 day simple moving average is C$65.03. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. The firm has a market capitalization of C$25.86 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 1.72 and a beta of 1.30.

Tourmaline Oil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, March 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.88%. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.35. Tourmaline Oil’s payout ratio is 31.61%.

Insider Buying and Selling

In related news, Senior Officer Mike Rose bought 2,500 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were purchased at an average price of C$66.44 per share, with a total value of C$166,109.00. Also, Director Jill Terilee Angevine purchased 1,000 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was purchased at an average price of C$66.63 per share, with a total value of C$66,630.00. Insiders acquired a total of 16,000 shares of company stock worth $1,054,314 in the last ninety days. 5.13% of the stock is owned by insiders.

Tourmaline Oil Company Profile

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.