Tourmaline Oil Corp. (TSE:TOU) to Issue Quarterly Dividend of $0.32

Tourmaline Oil Corp. (TSE:TOU) announced a quarterly dividend on Wednesday, May 8th, TickerTech reports. Investors of record on Thursday, May 16th will be given a dividend of 0.32 per share on Thursday, May 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Wednesday, May 8th. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.30.

Tourmaline Oil Price Performance

TOU stock opened at C$66.91 on Tuesday. The company has a market capitalization of C$23.53 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 1.72 and a beta of 1.41. Tourmaline Oil has a 52-week low of C$53.45 and a 52-week high of C$74.21. The business has a 50-day simple moving average of C$63.61 and a two-hundred day simple moving average of C$62.84. The company has a debt-to-equity ratio of 9.61, a quick ratio of 0.47 and a current ratio of 0.89.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings data on Wednesday, March 6th. The company reported C$2.00 earnings per share for the quarter, beating the consensus estimate of C$1.41 by C$0.59. Tourmaline Oil had a return on equity of 12.72% and a net margin of 35.78%. The business had revenue of C$1.66 billion for the quarter, compared to analysts’ expectations of C$1.49 billion. Research analysts expect that Tourmaline Oil will post 4.7492669 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tourmaline Oil news, Senior Officer Mike Rose purchased 5,000 shares of the stock in a transaction on Friday, May 3rd. The stock was acquired at an average cost of C$64.65 per share, with a total value of C$323,258.00. Over the last ninety days, insiders have acquired 12,630 shares of company stock valued at $790,110. 5.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TOU has been the topic of a number of research analyst reports. ATB Capital cut their price target on shares of Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating on the stock in a report on Wednesday, March 20th. Desjardins reduced their target price on shares of Tourmaline Oil from C$75.00 to C$74.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Stifel Nicolaus lifted their price target on shares of Tourmaline Oil from C$75.00 to C$80.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. National Bankshares reduced their price objective on Tourmaline Oil from C$80.00 to C$70.00 and set an “outperform” rating for the company in a report on Wednesday, January 10th. Finally, BMO Capital Markets lowered their target price on Tourmaline Oil from C$78.00 to C$75.00 in a research note on Thursday, March 28th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$78.38.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.