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

Tourmaline Oil Corp. (TSE:TOU) announced a quarterly dividend on Monday, March 16th, TickerTech Dividends reports. Shareholders 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 Performance

TOU stock traded up C$0.44 during trading hours on Friday, reaching C$67.09. The stock had a trading volume of 1,997,364 shares, compared to its average volume of 2,720,676. The stock has a 50-day simple moving average of C$62.08 and a 200 day simple moving average of C$61.48. Tourmaline Oil has a fifty-two week low of C$55.40 and a fifty-two week high of C$70.73. The stock has a market capitalization of C$25.98 billion, a PE ratio of 98.66, a price-to-earnings-growth 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 released its quarterly earnings data on Wednesday, March 4th. The company reported C($1.72) earnings per share for the quarter. The firm had revenue of C$1.66 billion for the quarter. Tourmaline Oil had a return on equity of 1.65% and a net margin of 5.03%. Analysts predict that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Jefferies Financial Group lowered their price target on Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th. Royal Bank Of Canada cut their price objective on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a research report on Friday, March 6th. Scotiabank reduced their target price on Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating for the company in a research note on Wednesday, January 21st. Raymond James Financial increased their price target on Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. Finally, Canadian Imperial Bank of Commerce cut their price target on Tourmaline Oil from C$71.00 to C$66.00 in a report on Tuesday, January 13th. Two equities 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price 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.