Tourmaline Oil Corp (TSE:TOU) to Issue Quarterly Dividend of $0.12

Tourmaline Oil Corp (TSE:TOU) declared a quarterly dividend on Friday, September 13th, TickerTech reports. Investors of record on Monday, September 30th will be paid a dividend of 0.12 per share on Monday, September 30th. This represents a $0.48 annualized dividend and a yield of 3.38%. The ex-dividend date is Friday, September 13th.

TOU traded up C$0.19 during trading on Thursday, hitting C$14.19. The company’s stock had a trading volume of 980,445 shares, compared to its average volume of 775,195. The company has a current ratio of 0.57, a quick ratio of 0.46 and a debt-to-equity ratio of 20.25. Tourmaline Oil has a twelve month low of C$11.89 and a twelve month high of C$23.86. The business’s fifty day simple moving average is C$13.85 and its 200 day simple moving average is C$17.76. The firm has a market capitalization of $3.85 billion and a price-to-earnings ratio of 7.90.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.57 EPS for the quarter. The business had revenue of C$486.39 million during the quarter. As a group, equities research analysts forecast that Tourmaline Oil will post 0.68 earnings per share for the current fiscal year.



In other news, Senior Officer Mike Rose purchased 2,500 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were purchased at an average cost of C$16.31 per share, with a total value of C$40,763.00. Following the completion of the purchase, the insider now directly owns 10,545,970 shares of the company’s stock, valued at approximately C$171,954,150.04. Also, Director Andrew B. Macdonald purchased 3,500 shares of the stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of C$13.60 per share, for a total transaction of C$47,600.00. Following the completion of the purchase, the director now directly owns 75,500 shares of the company’s stock, valued at C$1,026,800. Over the last three months, insiders acquired 42,080 shares of company stock worth $599,932.

Several analysts have commented on TOU shares. TD Securities dropped their price objective on Tourmaline Oil from C$27.00 to C$25.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Royal Bank of Canada dropped their price objective on Tourmaline Oil from C$26.00 to C$24.00 in a report on Thursday, July 18th. BMO Capital Markets dropped their price objective on Tourmaline Oil from C$23.00 to C$21.00 in a report on Friday, June 14th. National Bank Financial dropped their price objective on Tourmaline Oil from C$25.00 to C$23.50 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Finally, GMP Securities dropped their price objective on Tourmaline Oil from C$28.50 to C$25.25 in a report on Friday, June 28th.

About Tourmaline Oil

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

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Dividend History for Tourmaline Oil (TSE:TOU)

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