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

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

Tourmaline Oil Price Performance

Shares of TSE TOU traded up C$0.98 during midday trading on Wednesday, reaching C$57.66. 5,906,268 shares of the company were exchanged, compared to its average volume of 2,247,575. The stock’s 50-day moving average price is C$62.46 and its 200-day moving average price is C$62.32. The stock has a market cap of C$20.28 billion, a P/E ratio of 11.36, a PEG ratio of 1.72 and a beta of 1.39. Tourmaline Oil has a one year low of C$53.45 and a one year high of C$74.21. The company has a quick ratio of 0.47, a current ratio of 0.89 and a debt-to-equity ratio of 9.61.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TOU shares. Stifel Nicolaus boosted their price objective on shares of Tourmaline Oil from C$75.00 to C$80.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Jefferies Financial Group upped their price target on shares of Tourmaline Oil from C$70.00 to C$75.00 and gave the company a “buy” rating in a research report on Friday, April 12th. CIBC upped their price target on shares of Tourmaline Oil from C$77.50 to C$80.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. UBS Group raised shares of Tourmaline Oil to a “hold” rating in a research report on Thursday, June 20th. Finally, Desjardins cut their price target on shares of Tourmaline Oil from C$74.00 to C$72.00 and set a “buy” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$78.21.

Insider Activity

In related news, Senior Officer Mike Rose bought 2,500 shares of Tourmaline Oil stock in a transaction dated Wednesday, May 29th. The stock was purchased at an average cost of C$66.43 per share, with a total value of C$166,064.50. Insiders purchased 10,000 shares of company stock valued at $645,707 in the last three months. Company 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.