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

Key Points

• Tourmaline Oil Corp. declared a quarterly dividend of $0.35 per share, which amounts to an annualized dividend of $1.40 and a yield of 2.22%.
• The company's stock price reached C$62.93 with a market cap of C$23.45 billion, and its twelve-month trading range is between C$55.27 and C$70.83.
• Recent analyst ratings show a mix of outlooks, with CIBC lowering its price target to C$75.00, while Desjardins increased theirs to C$76.00, reflecting a generally positive sentiment with several "buy" ratings.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) declared a quarterly dividend on Wednesday, July 30th, RTT News reports. Shareholders of record on Friday, August 8th will be given a dividend of 0.35 per share on Wednesday, August 20th. This represents a c) annualized dividend and a yield of 2.4%.

Tourmaline Oil Trading Down 2.3%

Tourmaline Oil stock traded down C$1.36 during mid-day trading on Friday, hitting C$57.61. 8,222,042 shares of the stock were exchanged, compared to its average volume of 2,184,125. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. Tourmaline Oil has a 12 month low of C$55.27 and a 12 month high of C$70.83. The firm's fifty day simple moving average is C$63.55 and its two-hundred day simple moving average is C$64.58. The stock has a market capitalization of C$21.47 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 1.72 and a beta of 1.30.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. CIBC reduced their target price on shares of Tourmaline Oil from C$75.00 to C$74.00 and set an "outperform" rating for the company in a research note on Thursday. Desjardins lifted their target price on shares of Tourmaline Oil from C$74.00 to C$76.00 and gave the stock a "hold" rating in a research note on Tuesday, April 15th. Raymond James Financial downgraded shares of Tourmaline Oil from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from C$76.00 to C$74.00 in a research note on Thursday. ATB Capital lifted their target price on shares of Tourmaline Oil from C$76.00 to C$77.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, TD Securities reduced their target price on shares of Tourmaline Oil from C$76.00 to C$73.00 and set a "buy" rating for the company in a research note on Friday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Tourmaline Oil currently has an average rating of "Moderate Buy" and an average price target of C$76.18.

About Tourmaline Oil

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.