Tourmaline Oil (TSE:TOU) Stock Passes Above 200 Day Moving Average - What's Next?

Key Points

• Tourmaline Oil Corp. shares have crossed above their 200-day moving average, reaching C$62.25 during trading, with significant volume of 1,220,954 shares.
• The company recently increased its quarterly dividend from $0.35 to $0.50 per share, representing a dividend yield of 3.2%.
• Current analyst ratings show a consensus of "Moderate Buy" for Tourmaline Oil, with price targets varying from C$68.00 to C$77.00.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$62.06 and traded as high as C$62.25. Tourmaline Oil shares last traded at C$62.06, with a volume of 1,220,954 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TOU. CIBC dropped their price target on Tourmaline Oil from C$75.00 to C$74.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Raymond James Financial cut Tourmaline Oil from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from C$76.00 to C$74.00 in a research note on Thursday, July 31st. ATB Capital raised their price objective on Tourmaline Oil from C$76.00 to C$77.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Royal Bank Of Canada dropped their price objective on Tourmaline Oil from C$78.00 to C$75.00 in a research report on Friday, August 1st. Finally, TD Securities downgraded Tourmaline Oil from a "buy" rating to a "hold" rating and dropped their price objective for the company from C$73.00 to C$68.00 in a research report on Tuesday, September 30th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of C$74.00.

Tourmaline Oil Stock Down 0.1%

The business has a fifty day moving average price of C$59.32 and a two-hundred day moving average price of C$62.06. 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$24.01 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 1.72 and a beta of 0.35.

Tourmaline Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were issued a $0.50 dividend. This is a boost from Tourmaline Oil's previous quarterly dividend of $0.35. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, September 15th. Tourmaline Oil's dividend payout ratio is currently 42.29%.

Insider Transactions at Tourmaline Oil

In other news, insider Mike Rose acquired 5,000 shares of the business's stock in a transaction dated Friday, September 19th. The shares were acquired at an average cost of C$61.19 per share, with a total value of C$305,928.00. Following the completion of the acquisition, the insider owned 8,162,742 shares of the company's stock, valued at approximately C$499,442,266.92. This trade represents a 0.06% increase in their ownership of the stock. Also, Director Christopher Lee bought 17,000 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The shares were bought at an average cost of C$58.30 per share, for a total transaction of C$991,045.60. Following the completion of the acquisition, the director owned 17,000 shares of the company's stock, valued at C$991,045.60. This trade represents a ∞ increase in their ownership of the stock. Insiders bought 27,305 shares of company stock worth $1,606,356 over the last three months. 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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