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

Tourmaline Oil Corp. (TSE:TOU) announced a quarterly dividend on Wednesday, March 5th, RTT News reports. Shareholders of record on Friday, March 14th will be paid 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 3.18%. This is a 42.9% increase from Tourmaline Oil’s previous quarterly dividend of $0.35.

Tourmaline Oil Stock Performance

Shares of TOU opened at C$62.87 on Friday. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01. The stock has a 50 day moving average price of C$67.45 and a two-hundred day moving average price of C$64.37. The firm has a market capitalization of C$23.43 billion, a P/E ratio of 14.19, a P/E/G ratio of 1.72 and a beta of 1.30. Tourmaline Oil has a 52 week low of C$55.27 and a 52 week high of C$70.83.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. National Bankshares upped their target price on Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. CIBC upped their target price on Tourmaline Oil from C$75.00 to C$80.00 in a report on Friday, January 17th. Jefferies Financial Group increased their price objective on Tourmaline Oil from C$73.00 to C$76.00 in a report on Monday, December 16th. Finally, UBS Group increased their price objective on Tourmaline Oil from C$79.00 to C$80.00 in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$78.45.

Insiders Place Their Bets

In other news, Director Jill Terilee Angevine purchased 1,000 shares of the company’s stock in a transaction on Friday, January 31st. The stock was purchased at an average price of C$66.63 per share, with a total value of C$66,630.00. Also, Senior Officer Mike Rose acquired 2,500 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of C$62.90 per share, for a total transaction of C$157,252.00. Insiders bought a total of 16,000 shares of company stock valued at $1,047,918 over the last 90 days. Insiders own 5.13% of the company’s stock.

About Tourmaline Oil

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.