Tourmaline Oil Corp (TSE:TOU) Declares Dividend Increase – $0.12 Per Share
Tourmaline Oil Corp (TSE:TOU) declared a quarterly dividend on Thursday, June 13th, TickerTech reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.12 per share on Friday, June 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Thursday, June 13th. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.10.
Shares of TOU traded down C$0.41 during trading hours on Wednesday, reaching C$16.10. 262,340 shares of the company traded hands, compared to its average volume of 737,370. The firm has a market capitalization of $4.53 billion and a P/E ratio of 12.18. The company has a debt-to-equity ratio of 19.37, a quick ratio of 0.50 and a current ratio of 0.53. Tourmaline Oil has a 1-year low of C$15.84 and a 1-year high of C$25.79.
Tourmaline Oil (TSE:TOU) last announced its quarterly earnings data on Wednesday, May 8th. The company reported C$0.32 EPS for the quarter. The company had revenue of C$664.30 million for the quarter. As a group, equities analysts forecast that Tourmaline Oil will post 1.3800001 earnings per share for the current year.
A number of research analysts have recently commented on TOU shares. Raymond James upped their price objective on shares of Tourmaline Oil from C$29.00 to C$30.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. BMO Capital Markets raised shares of Tourmaline Oil from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 30th. Finally, TD Securities increased their price target on shares of Tourmaline Oil from C$31.00 to C$32.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th.
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Tourmaline Oil Company Profile
Tourmaline Oil Corp., together with its subsidiaries, engages in the acquisition, exploration, development, and production of oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, NEBC Montney, and the Peace River High Triassic oil complex.
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