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

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) announced a quarterly dividend on Monday, June 16th, TickerTech Dividends reports. Stockholders of record on Monday, June 30th will be paid a dividend of 0.50 per share on Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Monday, June 16th.

Tourmaline Oil Trading Up 0.7%

TOU traded up C$0.45 during trading hours on Tuesday, reaching C$66.84. 2,692,842 shares of the company's stock traded hands, compared to its average volume of 2,300,793. The firm has a 50-day moving average price of C$62.78 and a 200 day moving average price of C$64.95. The firm has a market capitalization of C$24.91 billion, a PE ratio of 15.09, a PEG ratio of 1.72 and a beta of 1.30. 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 52-week low of C$55.27 and a 52-week high of C$70.83.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TOU. TD Securities dropped their target price on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Raymond James set a C$78.00 price objective on Tourmaline Oil and gave the stock an "outperform" rating in a report on Tuesday, April 8th. Desjardins upped their target price on Tourmaline Oil from C$74.00 to C$76.00 and gave the stock a "hold" rating in a report on Tuesday, April 15th. CIBC decreased their price objective on Tourmaline Oil from C$80.00 to C$72.50 in a report on Thursday, April 10th. Finally, UBS Group lowered their price objective on shares of Tourmaline Oil from C$74.00 to C$71.00 in a research note on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Tourmaline Oil has an average rating of "Moderate Buy" and a consensus target price of C$76.72.

Insider Activity

In related news, Senior Officer Mike Rose purchased 5,000 shares of the firm's stock in a transaction on Monday, May 12th. The stock was acquired at an average price of C$62.98 per share, with a total value of C$314,917.00. Also, Senior Officer William Scott Kirker sold 56,000 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of C$64.94, for a total transaction of C$3,636,561.60. In the last ninety days, insiders have bought 25,000 shares of company stock worth $1,590,592. 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.