Tourmaline Oil Corp. (TSE:TOU – Get Rating) declared a quarterly dividend on Wednesday, September 14th, TickerTech reports. Shareholders of record on Thursday, September 29th will be given a dividend of 0.225 per share on Thursday, September 29th. This represents a $0.90 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Wednesday, September 14th.
Tourmaline Oil Price Performance
Shares of Tourmaline Oil stock traded up C$1.68 during trading on Monday, reaching C$79.47. The company's stock had a trading volume of 210,286 shares, compared to its average volume of 1,886,535. The stock has a 50-day moving average price of C$73.69 and a two-hundred day moving average price of C$67.58. The stock has a market capitalization of C$26.71 billion and a P/E ratio of 10.73. The company has a current ratio of 0.62, a quick ratio of 0.58 and a debt-to-equity ratio of 3.99. Tourmaline Oil has a one year low of C$38.10 and a one year high of C$81.31.
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Tourmaline Oil (TSE:TOU – Get Rating) last announced its earnings results on Wednesday, July 27th. The company reported C$2.40 earnings per share for the quarter, missing analysts' consensus estimates of C$2.83 by C($0.43). The business had revenue of C$1.82 billion for the quarter. As a group, sell-side analysts anticipate that Tourmaline Oil will post 10.9499994 EPS for the current fiscal year.
Insider Activity at Tourmaline Oil
In other Tourmaline Oil news, Senior Officer Mike Rose bought 5,000 shares of Tourmaline Oil stock in a transaction on Thursday, June 23rd. The shares were purchased at an average cost of C$62.66 per share, for a total transaction of C$313,314.00. Following the completion of the acquisition, the insider now owns 8,784,973 shares in the company, valued at approximately C$550,491,006.10. In other Tourmaline Oil news, Senior Officer Mike Rose bought 5,000 shares of the stock in a transaction that occurred on Thursday, June 23rd. The stock was acquired at an average cost of C$62.66 per share, with a total value of C$313,314.00. Following the purchase, the insider now owns 8,784,973 shares in the company, valued at C$550,491,006.10. Also, Director Jill Terilee Angevine purchased 1,400 shares of the business's stock in a transaction on Monday, July 11th. The stock was bought at an average cost of C$65.72 per share, for a total transaction of C$92,005.06. Following the purchase, the director now owns 44,500 shares of the company's stock, valued at approximately C$2,924,446.55. Insiders bought a total of 21,825 shares of company stock worth $1,520,210 in the last quarter.
Analysts Set New Price Targets
A number of research analysts have commented on the company. ATB Capital increased their price objective on Tourmaline Oil from C$85.00 to C$90.00 in a research report on Friday, July 29th. CIBC lifted their price objective on Tourmaline Oil from C$90.00 to C$100.00 in a research report on Monday, August 22nd. TD Securities upgraded shares of Tourmaline Oil from a "hold" rating to a "buy" rating and upped their target price for the company from C$80.00 to C$96.00 in a research report on Thursday, June 30th. Raymond James lifted their price target on shares of Tourmaline Oil from C$85.00 to C$90.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, July 5th. Finally, Scotiabank increased their price objective on shares of Tourmaline Oil from C$98.00 to C$106.00 in a report on Thursday, July 14th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of C$77.00.
About Tourmaline Oil
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Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. The company was incorporated in 2008 and is headquartered in Calgary, Canada.
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