Tourmaline Oil Corp Announces Quarterly Dividend of $0.10 (TOU)

Tourmaline Oil Corp (TSE:TOU) announced a quarterly dividend on Thursday, December 13th, TickerTech reports. Shareholders of record on Friday, December 28th will be given a dividend of 0.10 per share on Friday, December 28th. This represents a $0.40 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, December 13th.

Shares of TOU traded up C$0.02 during midday trading on Friday, reaching C$17.78. 832,100 shares of the stock were exchanged, compared to its average volume of 854,063. The company has a current ratio of 0.36, a quick ratio of 0.32 and a debt-to-equity ratio of 18.20. Tourmaline Oil has a twelve month low of C$17.34 and a twelve month high of C$26.19.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, November 7th. The company reported C$0.20 EPS for the quarter. The firm had revenue of C$407.18 million for the quarter. On average, sell-side analysts anticipate that Tourmaline Oil will post 1.46000002299213 earnings per share for the current fiscal year.

In other Tourmaline Oil news, insider Mike Rose acquired 2,500 shares of the stock in a transaction on Wednesday, September 19th. The shares were bought at an average price of C$21.00 per share, with a total value of C$52,500.00. Also, insider William Scott Kirker acquired 2,000 shares of the stock in a transaction on Thursday, December 6th. The stock was acquired at an average cost of C$17.68 per share, for a total transaction of C$35,360.00. In the last three months, insiders have purchased 60,000 shares of company stock worth $1,153,950.

A number of equities analysts recently issued reports on TOU shares. CIBC lowered their price target on Tourmaline Oil from C$30.00 to C$27.50 in a report on Thursday, November 22nd. BMO Capital Markets lowered their price target on Tourmaline Oil from C$26.00 to C$25.00 in a report on Friday, November 9th. Raymond James lowered their price target on Tourmaline Oil from C$35.00 to C$29.50 in a report on Friday, October 5th. Finally, TD Securities reissued a “buy” rating and set a C$27.00 price target on shares of Tourmaline Oil in a report on Thursday, November 8th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of C$29.00.

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Tourmaline Oil Company Profile

Tourmaline Oil Corp., together with its subsidiaries, engages in the acquisition, exploration, development, and production of petroleum and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Peace River High, Alberta Deep Basin, and NEBC Montney areas.

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