Tourmaline Oil Corp. Plans Quarterly Dividend of $0.50 (TSE:TOU)

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) announced a quarterly dividend on Monday, June 16th, TickerTech Dividends reports. Investors of record on Monday, June 30th will be given a dividend of 0.50 per share on Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Monday, June 16th.

Tourmaline Oil Price Performance

TSE TOU traded up C$0.74 on Friday, reaching C$66.63. The company's stock had a trading volume of 6,048,528 shares, compared to its average volume of 2,289,034. The firm has a market cap of C$24.83 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The business has a 50-day moving average price of C$62.59 and a 200 day moving average price of C$64.96. Tourmaline Oil has a 52 week low of C$55.27 and a 52 week high of C$70.83. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13.

Wall Street Analyst Weigh In

TOU has been the subject of several recent analyst reports. Raymond James set a C$78.00 price objective on shares of Tourmaline Oil and gave the stock an "outperform" rating in a report on Tuesday, April 8th. CIBC dropped their price objective on shares of Tourmaline Oil from C$80.00 to C$72.50 in a report on Thursday, April 10th. UBS Group dropped their price objective on shares of Tourmaline Oil from C$74.00 to C$71.00 in a report on Thursday, April 17th. Desjardins raised their price objective on shares of Tourmaline Oil from C$74.00 to C$76.00 and gave the stock a "hold" rating in a report on Tuesday, April 15th. Finally, TD Securities dropped their price objective on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$76.72.

Insider Activity at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer William Scott Kirker sold 56,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of C$64.94, for a total value of C$3,636,561.60. Also, Senior Officer Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction on Monday, May 12th. The stock was acquired at an average cost of C$62.98 per share, for a total transaction of C$314,917.00. Insiders purchased a total of 25,000 shares of company stock valued at $1,590,592 over the last quarter. Corporate insiders own 5.13% of the company's stock.

Tourmaline Oil Company Profile

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.