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

Tourmaline Oil Corp. (TSE:TOU) declared a quarterly dividend on Wednesday, March 5th, RTT News reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.50 per share on Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 3.09%. This is a 42.9% increase from Tourmaline Oil’s previous quarterly dividend of $0.35.

Tourmaline Oil Stock Down 0.1 %

Shares of TOU stock traded down C$0.05 during mid-day trading on Wednesday, hitting C$64.80. 3,313,704 shares of the stock traded hands, compared to its average volume of 1,661,933. The stock’s fifty day moving average is C$67.43 and its two-hundred day moving average is C$64.36. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. Tourmaline Oil has a 52-week low of C$55.27 and a 52-week high of C$70.83. The stock has a market cap of C$24.15 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.72 and a beta of 1.30.

Insider Buying and Selling at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer Mike Rose bought 2,500 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were purchased at an average cost of C$62.09 per share, for a total transaction of C$155,216.50. Also, Director Jill Terilee Angevine acquired 1,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were bought at an average cost of C$66.63 per share, for a total transaction of C$66,630.00. In the last quarter, insiders purchased 16,000 shares of company stock worth $1,047,918. Insiders own 5.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TOU shares. UBS Group lifted their price target on shares of Tourmaline Oil from C$79.00 to C$80.00 in a report on Thursday, February 13th. National Bankshares increased their price target on Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Jefferies Financial Group upped their price objective on shares of Tourmaline Oil from C$73.00 to C$76.00 in a report on Monday, December 16th. Finally, CIBC lifted their target price on shares of Tourmaline Oil from C$75.00 to C$80.00 in a research note on Friday, January 17th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$78.45.

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.