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

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

Tourmaline Oil Price Performance

Shares of TOU traded down C$0.05 during midday trading on Wednesday, hitting C$64.80. 3,313,704 shares of the company traded hands, compared to its average volume of 1,661,933. The stock has a market cap of C$24.15 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.72 and a beta of 1.30. The firm has a 50 day moving average of C$67.43 and a 200-day moving average of C$64.36. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01. Tourmaline Oil has a 52 week low of C$55.27 and a 52 week high of C$70.83.

Insider Activity

In related news, Director Jill Terilee Angevine purchased 1,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was purchased at an average price of C$66.63 per share, with a total value of C$66,630.00. Also, Senior Officer Mike Rose acquired 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was purchased at an average cost of C$68.38 per share, for a total transaction of C$170,945.00. Over the last 90 days, insiders have acquired 16,000 shares of company stock valued at $1,047,918. 5.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.