Tourmaline Oil Corp. (TSE:TOU) Raises Dividend to $0.50 Per Share

Tourmaline Oil Corp. (TSE:TOU) declared a quarterly dividend on Wednesday, March 5th, RTT News reports. Investors of record on Friday, March 14th will be given 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

TOU stock opened at C$64.80 on Thursday. The company has a 50 day simple moving average of C$67.43 and a 200 day simple moving average of C$64.36. The stock has a market cap of C$24.15 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 1.72 and a beta of 1.30. Tourmaline Oil has a 1 year low of C$55.27 and a 1 year high of C$70.83. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47.

Insider Buying and Selling

In other Tourmaline Oil news, Director Jill Terilee Angevine bought 1,000 shares of the business’s stock in a transaction on Friday, January 31st. The stock was purchased at an average price of C$66.63 per share, for a total transaction of C$66,630.00. Also, Senior Officer Mike Rose bought 2,500 shares of the business’s stock in a transaction on Monday, December 16th. The shares were acquired at an average price of C$62.09 per share, with a total value of C$155,216.50. Insiders have purchased a total of 16,000 shares of company stock valued at $1,047,918 over the last ninety days. 5.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TOU has been the topic of a number of research reports. National Bankshares boosted their target price on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. CIBC boosted their target price on shares of Tourmaline Oil from C$75.00 to C$80.00 in a report on Friday, January 17th. UBS Group boosted their target price on shares of Tourmaline Oil from C$79.00 to C$80.00 in a 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. Based on data from MarketBeat.com, Tourmaline Oil currently has a consensus rating of “Moderate Buy” and an average 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.