Tourmaline Oil Corp. (OTCMKTS:TRMLF) Plans Dividend Increase – $0.35 Per Share

Tourmaline Oil Corp. (OTCMKTS:TRMLF) announced a dividend on Tuesday, March 11th, investing.com reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.3504 per share on Monday, March 31st. This represents a yield of 3.14%. The ex-dividend date of this dividend is Friday, March 14th. This is a 44.1% increase from Tourmaline Oil’s previous dividend of $0.24.

Tourmaline Oil Trading Up 0.7 %

Shares of OTCMKTS TRMLF opened at $44.65 on Tuesday. The company has a market cap of $16.68 billion, a PE ratio of 13.78, a P/E/G ratio of 0.83 and a beta of -0.54. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s 50 day moving average price is $46.89 and its 200-day moving average price is $45.92. Tourmaline Oil has a 52-week low of $36.93 and a 52-week high of $51.15.

Tourmaline Oil (OTCMKTS:TRMLF) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.59 billion. Tourmaline Oil had a net margin of 27.12% and a return on equity of 11.06%. On average, equities research analysts expect that Tourmaline Oil will post 2.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Cormark upgraded Tourmaline Oil to a “moderate buy” rating in a report on Friday.

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.