Tourmaline Oil Corp. (TOU) To Go Ex-Dividend on May 8th

Tourmaline Oil Corp. (TSE:TOU) announced a quarterly dividend on Wednesday, May 8th, TickerTech reports. Shareholders 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 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Wednesday, May 8th. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.30.

Tourmaline Oil Price Performance

TSE:TOU opened at C$64.78 on Monday. Tourmaline Oil has a one year low of C$53.45 and a one year high of C$74.21. The company has a debt-to-equity ratio of 9.61, a quick ratio of 0.47 and a current ratio of 0.89. The firm has a market cap of C$22.78 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.72 and a beta of 1.41. The firm’s fifty day moving average is C$63.47 and its two-hundred day moving average is C$62.88.

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

Insider Transactions at Tourmaline Oil

In other news, Senior Officer Mike Rose purchased 5,000 shares of the stock in a transaction dated Friday, May 3rd. The stock was acquired at an average cost of C$64.65 per share, for a total transaction of C$323,258.00. Insiders bought 12,630 shares of company stock valued at $790,110 in the last 90 days. 5.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TOU. CIBC raised their price objective on shares of Tourmaline Oil from C$77.50 to C$80.00 and gave the company an “outperform” rating in a report on Thursday. Jefferies Financial Group upped their target price on Tourmaline Oil from C$70.00 to C$75.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Canaccord Genuity Group raised their price target on Tourmaline Oil from C$72.50 to C$73.50 and gave the stock a “buy” rating in a research note on Thursday. TD Securities dropped their price target on Tourmaline Oil from C$75.00 to C$72.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. Finally, Raymond James dropped their price target on Tourmaline Oil from C$90.00 to C$85.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 19th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tourmaline Oil 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.