Tourmaline Oil Corp. (TSE:TOU) Raises Dividend to $0.35 Per Share

Tourmaline Oil Corp. (TSE:TOU) declared a quarterly dividend on Monday, December 16th,TickerTech Dividends reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.35 per share on Tuesday, December 31st. This represents a $1.40 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.32.

Tourmaline Oil Stock Down 1.0 %

TSE TOU traded down C$0.64 during trading on Friday, hitting C$63.39. The stock had a trading volume of 1,403,751 shares, compared to its average volume of 2,405,245. Tourmaline Oil has a 12 month low of C$53.45 and a 12 month high of C$69.25. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.47 and a current ratio of 1.11. The company’s 50-day moving average price is C$64.24 and its two-hundred day moving average price is C$62.74. The company has a market capitalization of C$23.53 billion, a PE ratio of 15.02, a P/E/G ratio of 1.72 and a beta of 1.30.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, November 6th. The company reported C$1.00 EPS for the quarter, missing the consensus estimate of C$1.26 by C($0.26). Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. The business had revenue of C$1.47 billion for the quarter, compared to analyst estimates of C$1.63 billion. As a group, sell-side analysts forecast that Tourmaline Oil will post 5.6809091 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. National Bankshares set a C$72.50 price objective on shares of Tourmaline Oil and gave the company a “buy” rating in a research report on Tuesday, September 24th. Canaccord Genuity Group lowered their price target on shares of Tourmaline Oil from C$75.00 to C$74.00 in a research report on Tuesday, October 22nd. Jefferies Financial Group lifted their price objective on Tourmaline Oil from C$67.00 to C$73.00 in a report on Thursday, November 7th. Cormark raised shares of Tourmaline Oil to a “hold” rating in a report on Monday, September 23rd. Finally, UBS Group raised their price objective on Tourmaline Oil from C$70.00 to C$73.00 in a research note on Monday, December 9th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$77.96.

Insider Activity

In other news, Senior Officer Mike Rose bought 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was acquired at an average cost of C$62.90 per share, with a total value of C$157,252.00. Also, Senior Officer William Scott Kirker sold 66,000 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of C$66.37, for a total value of C$4,380,274.80. In the last three months, insiders have bought 15,000 shares of company stock valued at $926,731. 5.13% of the stock is currently owned by insiders.

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.