Tourmaline Oil (TSE:TOU) Share Price Breaks Above Two Hundred Day Moving Average – Time to Sell?

Tourmaline Oil Corp. (TSE:TOU) shares crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of C$62.60 and traded as high as C$65.35. Tourmaline Oil shares last traded at C$65.19, with a volume of 3,986,372 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a report on Friday, June 26th. The Goldman Sachs Group lowered shares of Tourmaline Oil from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, October 1st. TD raised their target price on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group boosted their price target on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. Finally, Desjardins set a C$68.00 price target on shares of Tourmaline Oil and gave the stock a “hold” rating in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$70.60.

Tourmaline Oil Trading Down 0.1%

The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 8.24. The firm has a 50-day moving average price of C$61.79 and a 200-day moving average price of C$62.58. The company has a market capitalization of C$25.10 billion, a price-to-earnings ratio of 70.20, a PEG ratio of 1.72 and a beta of -0.27.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$0.47 earnings per share for the quarter. Tourmaline Oil had a return on equity of 2.37% and a net margin of 6.50%. The business had revenue of C$1.50 billion during the quarter. As a group, sell-side analysts predict that Tourmaline Oil Corp. will post 5.68 EPS for the current year.

Insider Activity

In other Tourmaline Oil news, insider Mike Rose acquired 5,000 shares of the stock in a transaction dated Tuesday, October 6th. The shares were bought at an average price of C$62.06 per share, with a total value of C$310,300.00. Following the purchase, the insider directly owned 8,162,678 shares of the company’s stock, valued at approximately C$506,575,796.68. This trade represents a 0.06% increase in their position. Over the last 90 days, insiders have purchased 35,000 shares of company stock valued at $2,143,250. Insiders own 5.13% of the company’s stock.

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.