Tourmaline Oil Corp. (TOU) to Issue None Dividend of $0.50 on August 21st

Tourmaline Oil Corp. (TSE:TOU) announced a None dividend on Wednesday, July 31st, Zacks reports. Stockholders of record on Friday, August 9th will be given a dividend of 0.50 per share on Wednesday, August 21st. The ex-dividend date of this dividend is Friday, August 9th.

Tourmaline Oil Stock Up 1.1 %

Shares of TSE:TOU traded up C$0.64 during trading on Wednesday, hitting C$57.32. The stock had a trading volume of 5,847,728 shares, compared to its average volume of 2,246,068. Tourmaline Oil has a 12 month low of C$53.45 and a 12 month high of C$74.21. The company has a market capitalization of C$20.16 billion, a PE ratio of 11.36, a PEG ratio of 1.72 and a beta of 1.39. The firm’s fifty day moving average is C$62.46 and its 200 day moving average is C$62.32. The company has a quick ratio of 0.47, a current ratio of 0.89 and a debt-to-equity ratio of 9.61.

Analysts Set New Price Targets

TOU has been the topic of a number of research reports. Desjardins dropped their price target on Tourmaline Oil from C$74.00 to C$72.00 and set a “buy” rating on the stock in a research note on Tuesday. UBS Group raised Tourmaline Oil to a “hold” rating in a report on Thursday, June 20th. Jefferies Financial Group raised their price target on Tourmaline Oil from C$70.00 to C$75.00 and gave the company a “buy” rating in a report on Friday, April 12th. Stifel Nicolaus raised their price target on Tourmaline Oil from C$75.00 to C$80.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Finally, CIBC raised their price target on Tourmaline Oil from C$77.50 to C$80.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tourmaline Oil presently has a consensus rating of “Buy” and a consensus price target of C$78.21.

Insider Activity

In related news, Senior Officer Mike Rose purchased 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was bought at an average price of C$66.10 per share, for a total transaction of C$165,250.00. Insiders bought a total of 10,000 shares of company stock worth $645,707 over the last 90 days. Corporate insiders own 5.41% of the company’s stock.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.