Tourmaline Oil (TSE:TOU) Share Price Crosses Below 200 Day Moving Average – Time to Sell?

Tourmaline Oil Corp. (TSE:TOU) passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$63.17 and traded as low as C$62.65. Tourmaline Oil shares last traded at C$63.00, with a volume of 2,558,381 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. ATB Cormark Capital Markets lifted their price target on shares of Tourmaline Oil from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, October 22nd. TD raised their price objective on Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Jefferies Financial Group lifted their target price on Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. The Goldman Sachs Group downgraded Tourmaline Oil from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, October 1st. Finally, Desjardins set a C$68.00 target price on Tourmaline Oil and gave the company a “hold” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$70.80.

Tourmaline Oil Stock Performance

The company has a market capitalization of C$24.43 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 1.72 and a beta of -0.09. The company has a debt-to-equity ratio of 8.24, a quick ratio of 0.47 and a current ratio of 0.72. The stock’s fifty day simple moving average is C$63.53 and its 200-day simple moving average is C$63.20.

Tourmaline Oil (TSE:TOU) last issued its earnings results on Wednesday, November 4th. The company reported C$1.64 earnings per share for the quarter. The business had revenue of C$1.47 billion for the quarter. Tourmaline Oil had a return on equity of 2.37% and a net margin of 6.50%. As a group, equities analysts predict that Tourmaline Oil Corp. will post 5.68 earnings per share for the current year.

Insider Activity at Tourmaline Oil

In related news, insider Mike Rose bought 5,000 shares of the firm’s stock in a transaction on Tuesday, October 6th. The stock was bought at an average cost of C$62.06 per share, for a total transaction of C$310,300.00. Following the completion of the purchase, the insider directly owned 8,162,678 shares in the company, valued at approximately C$506,575,796.68. The trade was a 0.06% increase in their position. In the last ninety days, insiders purchased 25,000 shares of company stock valued at $1,534,050. 5.13% of the stock is currently owned by company insiders.

Tourmaline Oil Company Profile

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 two 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.