Tourmaline Oil Corp. (TSE:TOU) to Issue Quarterly Dividend of $0.32

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) announced a quarterly dividend on Wednesday, May 8th, TickerTech reports. Shareholders of record on Thursday, May 16th will be paid a dividend of 0.32 per share on Thursday, May 16th. This represents a $1.28 annualized dividend and a yield of 1.91%. The ex-dividend date is Wednesday, May 8th. This is a boost from Tourmaline Oil's previous quarterly dividend of $0.30.

Tourmaline Oil Trading Up 3.3 %

Shares of TSE TOU traded up C$2.13 during midday trading on Monday, reaching C$66.91. 8,010,844 shares of the stock were exchanged, compared to its average volume of 2,195,385. The stock has a market capitalization of C$23.53 billion, a P/E ratio of 12.98, a PEG ratio of 1.72 and a beta of 1.41. The company has a debt-to-equity ratio of 9.61, a quick ratio of 0.47 and a current ratio of 0.89. The company has a 50 day simple moving average of C$63.47 and a 200 day simple moving average of C$62.88. Tourmaline Oil has a twelve month low of C$53.45 and a twelve month high of C$74.21.

Tourmaline Oil (TSE:TOU - Get Free Report) last posted its earnings results on Wednesday, March 6th. The company reported C$2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.41 by C$0.59. The firm had revenue of C$1.66 billion for the quarter, compared to analyst estimates of C$1.49 billion. Tourmaline Oil had a return on equity of 12.72% and a net margin of 35.78%. As a group, equities analysts expect that Tourmaline Oil will post 4.7492669 earnings per share for the current year.

Insider Buying and Selling

In other Tourmaline Oil news, Senior Officer Mike Rose bought 2,500 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was acquired at an average cost of C$59.42 per share, with a total value of C$148,543.00. In the last quarter, insiders have acquired 12,630 shares of company stock valued at $790,110. 5.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Raymond James dropped their price objective on Tourmaline Oil from C$90.00 to C$85.00 and set a "strong-buy" rating on the stock in a report on Friday, January 19th. TD Securities decreased their price objective on shares of Tourmaline Oil from C$75.00 to C$72.00 and set a "buy" rating on the stock in a report on Thursday, March 7th. Stifel Nicolaus increased their target price on shares of Tourmaline Oil from C$75.00 to C$80.00 and gave the company a "buy" rating in a report on Tuesday, April 23rd. National Bankshares decreased their price target on Tourmaline Oil from C$80.00 to C$70.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 10th. Finally, Jefferies Financial Group lifted their price objective on Tourmaline Oil from C$70.00 to C$75.00 and gave the stock a "buy" rating in a report on Friday, April 12th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of C$78.38.

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.