Tourmaline Oil (TSE:TOU) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Tourmaline shares crossed above its 200-day moving average (200-day = C$62.42; intraday high C$62.92) but last traded at C$60.95 and was down about 1.7% on the session.
• Analysts maintain an overall "Buy" consensus with a consensus target of C$71.22 (ratings: 3 Strong Buy, 4 Buy, 2 Hold) after several recent target adjustments in the C$66–C$74 range.
• Key fundamentals: market cap C$23.6B, PE ~89.6 and debt-to-equity 12.25; the company pays a C$2.00 annual dividend (3.3% yield) but has a payout ratio of 294%, and insiders made small purchases (e.g., Mike Rose bought 2,500 shares at C$68.50).

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$62.42 and traded as high as C$62.92. Tourmaline Oil shares last traded at C$60.95, with a volume of 2,078,929 shares.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Raymond James Financial increased their target price on Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. Canadian Imperial Bank of Commerce decreased their target price on Tourmaline Oil from C$71.00 to C$66.00 in a research note on Tuesday, January 13th. ATB Cormark Capital Markets decreased their target price on Tourmaline Oil from C$74.00 to C$73.00 and set an "outperform" rating on the stock in a research note on Friday, March 6th. Royal Bank Of Canada decreased their target price on Tourmaline Oil from C$76.00 to C$72.00 and set an "outperform" rating on the stock in a research note on Friday, March 6th. Finally, Jefferies Financial Group decreased their target price on Tourmaline Oil from C$72.00 to C$70.00 in a research note on Tuesday, January 20th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Tourmaline Oil currently has an average rating of "Buy" and a consensus target price of C$71.22.

Tourmaline Oil Trading Down 1.7%

The company has a fifty day simple moving average of C$64.28 and a two-hundred day simple moving average of C$62.42. The company has a current ratio of 0.83, a quick ratio of 0.47 and a debt-to-equity ratio of 12.25. The company has a market cap of C$23.60 billion, a PE ratio of 89.63, a P/E/G ratio of 1.72 and a beta of -0.10.

Tourmaline Oil (TSE:TOU - Get Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The company reported C($1.72) earnings per share for the quarter. Tourmaline Oil had a return on equity of 1.65% and a net margin of 5.03%.The company had revenue of C$1.66 billion for the quarter. Analysts anticipate that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.

Tourmaline Oil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.50 per share. The ex-dividend date was Monday, March 16th. This represents a $2.00 annualized dividend and a yield of 3.3%. Tourmaline Oil's dividend payout ratio is 294.12%.

Insiders Place Their Bets

In related news, insider Mike Rose purchased 2,500 shares of the business's stock in a transaction on Wednesday, March 25th. The shares were bought at an average price of C$68.50 per share, for a total transaction of C$171,250.00. Following the acquisition, the insider directly owned 8,060,178 shares in the company, valued at C$552,122,193. This trade represents a 0.03% increase in their ownership of the stock. In the last quarter, insiders bought 15,000 shares of company stock worth $940,150. 5.13% of the stock is owned by corporate insiders.

About Tourmaline Oil

Tourmaline is Canada's largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.