Tourmaline Oil (OTCMKTS:TRMLF) Shares Gap Up Following Dividend Announcement

Tourmaline Oil Corp. (OTCMKTS:TRMLF) gapped up prior to trading on Friday after the company announced a dividend. The stock had previously closed at $43.00, but opened at $45.55. Tourmaline Oil shares last traded at $43.29, with a volume of 9,816 shares traded.

The newly announced dividend which will be paid on Monday, September 29th. Investors of record on Tuesday, September 16th will be given a $0.362 dividend. This represents a yield of 344.0%. This is an increase from Tourmaline Oil’s previous dividend of $0.25. The ex-dividend date of this dividend is Monday, September 15th. Tourmaline Oil’s dividend payout ratio (DPR) is 50.00%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TRMLF shares. Raymond James Financial cut Tourmaline Oil from a “moderate buy” rating to a “hold” rating in a research report on Thursday, July 31st. CIBC reaffirmed an “outperform” rating on shares of Tourmaline Oil in a research report on Tuesday, June 24th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Tourmaline Oil Stock Performance

The company has a market capitalization of $16.80 billion, a P/E ratio of 15.08, a PEG ratio of 0.61 and a beta of -0.33. The stock has a fifty day simple moving average of $43.20 and a 200-day simple moving average of $44.99. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.08.

Tourmaline Oil (OTCMKTS:TRMLF) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.32. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Tourmaline Oil had a return on equity of 9.90% and a net margin of 23.53%. Equities analysts forecast that Tourmaline Oil Corp. will post 2.52 EPS for the current year.

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.