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

Tourmaline Oil Corp. (TSE:TOU) declared a quarterly dividend on Monday, March 16th, TickerTech Dividends reports. Investors of record on Tuesday, March 31st will be paid a dividend of 0.50 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, March 16th.

Tourmaline Oil Stock Up 0.7%

TOU stock traded up C$0.44 during trading hours on Friday, reaching C$67.09. 1,997,364 shares of the stock were exchanged, compared to its average volume of 2,720,676. The firm’s 50-day moving average is C$62.08 and its 200-day moving average is C$61.48. Tourmaline Oil has a 12 month low of C$55.40 and a 12 month high of C$70.73. The company has a market cap of C$25.98 billion, a price-to-earnings ratio of 98.66, a PEG ratio of 1.72 and a beta of 0.00. The company has a debt-to-equity ratio of 12.25, a current ratio of 0.83 and a quick ratio of 0.47.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings data on Wednesday, March 4th. The company reported C($1.72) earnings per share for the quarter. Tourmaline Oil had a return on equity of 1.65% and a net margin of 5.03%.The firm had revenue of C$1.66 billion for the quarter. On average, equities research analysts expect that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Wall Street Analyst Weigh In

TOU has been the subject of a number of recent research reports. Jefferies Financial Group reduced their price target on Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th. Raymond James Financial lifted their price objective on shares of Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Canadian Imperial Bank of Commerce cut their price objective on shares of Tourmaline Oil from C$71.00 to C$66.00 in a research report on Tuesday, January 13th. ATB Cormark Capital Markets reduced their target price on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a report on Friday, March 6th. Finally, Scotiabank decreased their target price on shares of Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating for the company in a research report on Wednesday, January 21st. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$71.22.

Tourmaline Oil Company Profile

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.