Tourmaline Oil Corp. (OTCMKTS:TRMLF) Plans Dividend Increase - $0.36 Per Share

Tourmaline Oil Corp. (OTCMKTS:TRMLF - Get Free Report) announced a dividend on Saturday, June 14th, investing.com reports. Stockholders of record on Tuesday, June 17th will be given a dividend of 0.3598 per share on Monday, June 30th. This represents a dividend yield of 2.95%. The ex-dividend date of this dividend is Monday, June 16th. This is a 42.9% increase from Tourmaline Oil's previous dividend of $0.25.

Tourmaline Oil Stock Performance

OTCMKTS TRMLF traded down $0.18 during trading hours on Tuesday, hitting $48.78. 16,865 shares of the stock were exchanged, compared to its average volume of 65,077. Tourmaline Oil has a 12-month low of $36.93 and a 12-month high of $50.01. The stock has a 50-day moving average of $45.42 and a 200 day moving average of $45.88. The company has a market cap of $18.87 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 0.83 and a beta of -0.42. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.10.

Tourmaline Oil (OTCMKTS:TRMLF - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.68). Tourmaline Oil had a net margin of 27.12% and a return on equity of 11.06%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.80 billion. As a group, equities research analysts forecast that Tourmaline Oil will post 2.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TRMLF has been the topic of several research analyst reports. Morgan Stanley restated a "cautious" rating on shares of Tourmaline Oil in a research report on Wednesday, March 26th. Raymond James raised shares of Tourmaline Oil to a "moderate buy" rating in a report on Monday, April 7th. Cormark upgraded shares of Tourmaline Oil to a "moderate buy" rating in a research report on Friday, March 7th. Finally, Desjardins lowered Tourmaline Oil from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold".

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.