Tourmaline Oil (TSE:TOU) Shares Pass Above 200-Day Moving Average - Here's Why

Tourmaline Oil Corp. (TSE:TOU - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$64.96 and traded as high as C$67.03. Tourmaline Oil shares last traded at C$66.63, with a volume of 6,048,528 shares trading hands.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Cormark raised Tourmaline Oil from a "hold" rating to a "moderate buy" rating in a research note on Friday, March 7th. Raymond James set a C$78.00 price objective on shares of Tourmaline Oil and gave the stock an "outperform" rating in a research report on Tuesday, April 8th. Desjardins boosted their target price on shares of Tourmaline Oil from C$74.00 to C$76.00 and gave the company a "hold" rating in a report on Tuesday, April 15th. CIBC dropped their price target on shares of Tourmaline Oil from C$80.00 to C$72.50 in a research note on Thursday, April 10th. Finally, TD Securities reduced their price target on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Tourmaline Oil presently has a consensus rating of "Moderate Buy" and a consensus price target of C$76.72.

Tourmaline Oil Stock Performance

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 has a market capitalization of C$24.83 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The firm's fifty day moving average price is C$62.59 and its 200 day moving average price is C$64.96.

Tourmaline Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.00 annualized dividend and a dividend yield of 3.00%. Tourmaline Oil's dividend payout ratio is presently 31.61%.

Insider Buying and Selling

In other Tourmaline Oil news, Senior Officer William Scott Kirker sold 56,000 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of C$64.94, for a total value of C$3,636,561.60. Also, Senior Officer Mike Rose acquired 5,000 shares of the business's stock in a transaction dated Friday, June 13th. The shares were bought at an average cost of C$65.92 per share, for a total transaction of C$329,583.50. In the last 90 days, insiders have bought 25,000 shares of company stock valued at $1,590,592. Corporate insiders own 5.13% of the company's stock.

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.

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