Tourmaline Oil (TSE:TOU) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Tourmaline Oil Corp. (TSE:TOU)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$63.83 and traded as high as C$69.69. Tourmaline Oil shares last traded at C$69.30, with a volume of 1,954,507 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have commented on TOU. CIBC upped their target price on shares of Tourmaline Oil from C$75.00 to C$80.00 in a research report on Friday, January 17th. UBS Group upped their price objective on shares of Tourmaline Oil from C$79.00 to C$80.00 in a research report on Thursday, February 13th. Jefferies Financial Group upped their price objective on shares of Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday, December 16th. Finally, National Bankshares upped their price objective 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. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$78.45.

Tourmaline Oil Stock Performance

The stock has a market capitalization of C$25.98 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13. The stock’s 50 day moving average is C$66.74 and its two-hundred day moving average is C$63.90.

Tourmaline Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a $0.35 dividend. The ex-dividend date was Monday, December 16th. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 2.01%. Tourmaline Oil’s dividend payout ratio is presently 31.61%.

Insider Buying and Selling

In related news, Senior Officer Mike Rose bought 2,500 shares of Tourmaline Oil stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of C$62.09 per share, with a total value of C$155,216.50. Also, Director Jill Terilee Angevine acquired 1,000 shares of Tourmaline Oil stock in a transaction dated Friday, January 31st. The shares were acquired at an average price of C$66.63 per share, with a total value of C$66,630.00. In the last ninety days, insiders purchased 16,000 shares of company stock valued at $1,047,918. Company insiders own 5.13% of the company’s stock.

About Tourmaline Oil

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.