Tourmaline Oil Corp. (TSE:TOU) Increases Dividend to $0.32 Per Share

Tourmaline Oil Corp. (TSE:TOU) declared a quarterly dividend on Wednesday, May 8th, TickerTech reports. Stockholders of record on Thursday, May 16th will be given a dividend of 0.32 per share on Thursday, May 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.98%. 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 Down 0.8 %

Shares of TSE:TOU opened at C$64.78 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.47 and a debt-to-equity ratio of 9.61. The stock has a market capitalization of C$22.78 billion, a PE ratio of 12.98, a P/E/G ratio of 1.72 and a beta of 1.41. Tourmaline Oil has a 1 year low of C$53.45 and a 1 year high of C$74.21. The firm has a fifty day moving average price of C$63.47 and a 200 day moving average price of C$62.88.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 EPS for the quarter, beating the consensus estimate of C$1.41 by C$0.59. Tourmaline Oil had a return on equity of 12.72% and a net margin of 35.78%. The company had revenue of C$1.66 billion for the quarter, compared to the consensus estimate of C$1.49 billion. Analysts expect that Tourmaline Oil will post 4.7492669 EPS for the current fiscal year.

Insider Transactions at Tourmaline Oil

In related news, Senior Officer Mike Rose purchased 2,500 shares of the stock in a transaction on Friday, March 22nd. The shares were purchased at an average cost of C$59.42 per share, for a total transaction of C$148,543.00. In the last ninety days, insiders purchased 12,630 shares of company stock valued at $790,110. Corporate insiders own 5.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TOU. Stifel Nicolaus raised their price target on Tourmaline Oil from C$75.00 to C$80.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. TD Securities cut their price target on Tourmaline Oil from C$75.00 to C$72.00 and set a “buy” rating for the company in a report on Thursday, March 7th. National Bankshares lowered their price objective on shares of 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. ATB Capital cut their target price on shares of Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating for the company in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group raised their price target on shares of Tourmaline Oil from C$70.00 to C$75.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target 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.