Tourmaline Oil Corp. (TSE:TOU) to Issue Quarterly Dividend of $0.35

Tourmaline Oil Corp. (TSE:TOU) announced a quarterly dividend on Monday, December 16th,TickerTech Dividends reports. Shareholders 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 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.32.

Tourmaline Oil Stock Performance

Shares of TSE TOU traded down C$0.64 during midday trading on Friday, reaching 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. The stock has a market capitalization of C$23.53 billion, a P/E ratio of 15.02, a PEG ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.11 and a quick ratio of 0.47. The firm has a 50 day moving average price of C$64.24 and a 200-day moving average price of C$62.74. Tourmaline Oil has a 12-month low of C$53.45 and a 12-month high of C$69.25.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings data on Wednesday, November 6th. The company reported C$1.00 earnings per share for the quarter, missing the consensus estimate of C$1.26 by C($0.26). The business had revenue of C$1.47 billion during the quarter, compared to analysts’ expectations 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, equities analysts predict that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Wall Street Analyst Weigh In

TOU has been the topic of a number of research analyst reports. Cormark upgraded shares of Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd. National Bankshares set a C$72.50 price objective on Tourmaline Oil and gave the company a “buy” rating in a research note on Tuesday, September 24th. TD Securities decreased their target price on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Canaccord Genuity Group dropped their price target on Tourmaline Oil from C$75.00 to C$74.00 in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group increased their price target on Tourmaline Oil from C$67.00 to C$73.00 in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$77.96.

Insider Buying and Selling

In related news, Senior Officer William Scott Kirker sold 66,000 shares of Tourmaline Oil stock in a transaction 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. Also, Senior Officer Mike Rose acquired 2,500 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was purchased at an average price of C$58.40 per share, for a total transaction of C$146,004.50. Over the last ninety days, insiders purchased 15,000 shares of company stock worth $926,731. Corporate insiders own 5.13% of the company’s stock.

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.