Tourmaline Oil Corp. (TOU) To Go Ex-Dividend on March 14th

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

Tourmaline Oil Stock Performance

TSE:TOU traded up C$0.29 during mid-day trading on Wednesday, hitting C$65.28. 4,134,695 shares of the company traded hands, compared to its average volume of 2,095,002. The stock’s fifty day moving average price is C$67.36 and its 200-day moving average price is C$64.44. The firm has a market cap 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. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. Tourmaline Oil has a one year low of C$55.27 and a one year high of C$70.83.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Tourmaline Oil news, Senior Officer Mike Rose bought 2,500 shares of Tourmaline Oil stock in a transaction on Friday, March 7th. The shares were acquired at an average price of C$63.30 per share, for a total transaction of C$158,252.50. Also, Director Jill Terilee Angevine bought 1,000 shares of the stock in a transaction dated Friday, January 31st. The shares were bought at an average cost of C$66.63 per share, with a total value of C$66,630.00. In the last ninety days, insiders bought 18,500 shares of company stock valued at $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.