Tourmaline Oil (TSE:TOU) Stock Price Crosses Above 200 Day Moving Average of $18.43

Tourmaline Oil Corp (TSE:TOU) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $18.43 and traded as high as $13.75. Tourmaline Oil shares last traded at $13.28, with a volume of 446,135 shares trading hands.

Several brokerages have recently issued reports on TOU. Royal Bank of Canada reduced their target price on shares of Tourmaline Oil from C$26.00 to C$24.00 in a research note on Thursday, July 18th. BMO Capital Markets reduced their target price on shares of Tourmaline Oil from C$23.00 to C$21.00 in a research note on Friday, June 14th. TD Securities reduced their price objective on shares of Tourmaline Oil from C$27.00 to C$25.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. GMP Securities reduced their price objective on shares of Tourmaline Oil from C$28.50 to C$25.25 in a research note on Friday, June 28th. Finally, National Bank Financial reduced their price objective on shares of Tourmaline Oil from C$25.00 to C$23.50 and set an “outperform” rating on the stock in a research note on Thursday, August 1st.

The firm’s 50 day moving average is C$15.56 and its two-hundred day moving average is C$18.43. The firm has a market cap of $3.50 billion and a P/E ratio of 7.41. The company has a current ratio of 0.57, a quick ratio of 0.46 and a debt-to-equity ratio of 20.25.

In other Tourmaline Oil news, Senior Officer Mike Rose acquired 2,500 shares of the stock in a transaction dated Wednesday, August 14th. The shares were bought at an average cost of C$13.00 per share, for a total transaction of C$32,500.00. Following the completion of the acquisition, the insider now directly owns 10,501,830 shares of the company’s stock, valued at C$136,523,790. Also, Director Lucille Miller bought 1,467 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average price of C$17.73 per share, for a total transaction of C$26,002.58. Following the completion of the acquisition, the director now owns 8,267 shares of the company’s stock, valued at approximately C$146,532.58. Insiders have acquired a total of 48,547 shares of company stock worth $731,945 over the last 90 days.

Tourmaline Oil Company Profile (TSE:TOU)

Tourmaline Oil Corp., together with its subsidiaries, engages in the acquisition, exploration, development, and production of oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, NEBC Montney, and the Peace River High Triassic oil complex.

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