Tourmaline Oil Corp. (TSE:TOU) Plans Dividend Increase – $0.50 Per Share

Tourmaline Oil Corp. (TSE:TOU) announced a quarterly dividend on Friday, March 14th, RTT News reports. Shareholders 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 3.06%. The ex-dividend date is Friday, March 14th. This is a 42.9% increase from Tourmaline Oil’s previous quarterly dividend of $0.35.

Tourmaline Oil Stock Up 0.4 %

TOU stock traded up C$0.29 during trading on Wednesday, reaching C$65.28. 4,134,695 shares of the company traded hands, compared to its average volume of 2,095,002. The business has a 50 day simple moving average of C$67.36 and a 200 day simple moving average of C$64.44. Tourmaline Oil has a 12 month low of C$55.27 and a 12 month high of C$70.83. 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 company has a market capitalization of C$24.33 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TOU. Jefferies Financial Group boosted their price target on Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th. UBS Group boosted their target price on shares of Tourmaline Oil from C$79.00 to C$80.00 in a research report on Thursday, February 13th. Cormark upgraded shares of Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research note on Friday, March 7th. CIBC raised their target price on shares of Tourmaline Oil from C$75.00 to C$80.00 in a report on Friday, January 17th. Finally, National Bankshares raised their price target on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$78.45.

Insider Activity at Tourmaline Oil

In other news, Director Jill Terilee Angevine acquired 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were 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 stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average price of C$62.90 per share, with a total value of C$157,252.00. In the last ninety days, insiders have purchased 18,500 shares of company stock worth $1,206,170. Company insiders own 5.13% of the company’s stock.

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.