Tourmaline Oil Corp. (TSE:TOU) Declares None Dividend of $0.50

Tourmaline Oil Corp. (TSE:TOU) declared 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 1.7 %

TSE:TOU traded up C$0.98 during mid-day trading on Wednesday, hitting C$57.66. 5,906,268 shares of the company’s stock traded hands, compared to its average volume of 2,247,575. The company has a fifty day moving average of C$62.46 and a 200 day moving average of C$62.32. Tourmaline Oil has a twelve month low of C$53.45 and a twelve month high of C$74.21. The company has a market capitalization of C$20.28 billion, a P/E ratio of 11.36, a P/E/G ratio of 1.72 and a beta of 1.39. The company has a debt-to-equity ratio of 9.61, a quick ratio of 0.47 and a current ratio of 0.89.

Insider Buying and Selling

In related news, Senior Officer Mike Rose bought 2,500 shares of the stock in a transaction that occurred on 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. 5.41% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TOU has been the topic of a number of recent research reports. Canaccord Genuity Group upped their target price on Tourmaline Oil from C$72.50 to C$73.50 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. UBS Group raised Tourmaline Oil to a “hold” rating in a report on Thursday, June 20th. Stifel Nicolaus increased 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. Jefferies Financial Group increased 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. Finally, Desjardins cut their price target on Tourmaline Oil from C$74.00 to C$72.00 and set a “buy” rating for the company in a 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. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$78.21.

Tourmaline Oil Company Profile

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.