Tourmaline Oil (TSE:TOU) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Tourmaline Oil Corp. (TSE:TOU) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 changing hands.

Analysts Set New Price Targets

TOU has been the topic of several research reports. UBS Group boosted their price target on Tourmaline Oil from C$79.00 to C$80.00 in a research note on Thursday, February 13th. 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. National Bankshares lifted their price objective on Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, CIBC lifted their price objective on Tourmaline Oil from C$75.00 to C$80.00 in a report on Friday, January 17th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$78.45.

Tourmaline Oil Stock Up 0.6 %

The firm has a market capitalization of C$25.98 billion, a price-to-earnings ratio of 15.74, a P/E/G 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 firm has a fifty day moving average price of C$66.74 and a 200 day moving average price of C$63.90.

Tourmaline Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.35 per share. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.40 annualized dividend and a yield of 2.01%. Tourmaline Oil’s dividend payout ratio is currently 31.61%.

Insiders Place Their Bets

In other news, Director Jill Terilee Angevine acquired 1,000 shares of Tourmaline Oil stock in a transaction on Friday, January 31st. The shares were purchased at an average price of C$66.63 per share, with a total value of C$66,630.00. Also, Senior Officer Mike Rose acquired 2,500 shares of Tourmaline Oil stock in a transaction on Monday, December 16th. The shares were purchased at an average cost of C$62.09 per share, for a total transaction of C$155,216.50. In the last quarter, insiders have bought 16,000 shares of company stock valued at $1,047,918. 5.13% of the stock is currently owned by corporate 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.