Tourmaline Oil Corp. (TOU) to Issue Quarterly Dividend of $0.35 on December 31st

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

Tourmaline Oil Stock Down 1.0 %

Shares of TSE:TOU traded down C$0.64 during trading on Friday, hitting C$63.39. The company’s stock had a trading volume of 1,403,751 shares, compared to its average volume of 2,405,245. Tourmaline Oil has a fifty-two week low of C$53.45 and a fifty-two week high of C$69.25. The business has a 50 day moving average price of C$64.24 and a two-hundred day moving average price of C$62.74. 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 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 released 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). The company had revenue of C$1.47 billion for the quarter, compared to analyst estimates of C$1.63 billion. Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. As a group, research analysts expect that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer William Scott Kirker sold 66,000 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of C$66.37, for a total transaction of C$4,380,274.80. Also, Senior Officer Mike Rose purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were purchased at an average cost of C$58.40 per share, with a total value of C$146,004.50. In the last ninety days, insiders purchased 15,000 shares of company stock valued at $926,731. 5.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TOU has been the subject of a number of recent research reports. National Bankshares set a C$72.50 price target on shares of Tourmaline Oil and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Canaccord Genuity Group dropped their target price on Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. UBS Group upped their price objective on Tourmaline Oil from C$70.00 to C$73.00 in a research report on Monday, December 9th. Jefferies Financial Group boosted their target price on Tourmaline Oil from C$67.00 to C$73.00 in a research note on Thursday, November 7th. Finally, TD Securities dropped their price target on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$77.96.

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.