Tourmaline Oil Corp (TOU) to Issue $0.10 Quarterly Dividend

Tourmaline Oil Corp (TSE:TOU) declared a quarterly dividend on Thursday, December 13th, TickerTech reports. Shareholders of record on Friday, December 28th will be paid a dividend of 0.10 per share on Friday, December 28th. This represents a $0.40 annualized dividend and a yield of 2.25%. The ex-dividend date is Thursday, December 13th.

Shares of TSE TOU traded up C$0.02 during trading on Friday, hitting C$17.78. 832,100 shares of the company traded hands, compared to its average volume of 854,063. Tourmaline Oil has a 1 year low of C$17.34 and a 1 year high of C$26.19. The company has a debt-to-equity ratio of 18.20, a current ratio of 0.36 and a quick ratio of 0.32.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings data on Wednesday, November 7th. The company reported C$0.20 earnings per share (EPS) for the quarter. The company had revenue of C$407.18 million for the quarter. As a group, analysts anticipate that Tourmaline Oil will post 1.46000002299213 EPS for the current fiscal year.

In other news, insider Mike Rose acquired 2,500 shares of the firm’s stock in a transaction on Friday, October 12th. The stock was bought at an average cost of C$21.25 per share, with a total value of C$53,125.00. Also, insider Earl Henry Mckinnon acquired 1,500 shares of the firm’s stock in a transaction on Wednesday, October 3rd. The stock was purchased at an average cost of C$22.71 per share, with a total value of C$34,065.00. Over the last ninety days, insiders have purchased 60,000 shares of company stock valued at $1,153,950.

Several analysts have recently issued reports on TOU shares. BMO Capital Markets lowered their price objective on shares of Tourmaline Oil from C$26.00 to C$25.00 in a research note on Friday, November 9th. TD Securities reissued a “buy” rating and set a C$27.00 price objective on shares of Tourmaline Oil in a research note on Thursday, November 8th. Raymond James lowered their price objective on shares of Tourmaline Oil from C$35.00 to C$29.50 in a research note on Friday, October 5th. Finally, CIBC lowered their price objective on shares of Tourmaline Oil from C$30.00 to C$27.50 in a research note on Thursday, November 22nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of C$29.00.

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Tourmaline Oil Company Profile

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

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