Tourmaline Oil (TSE:TOU) Hits New 12-Month Low at $15.84

Tourmaline Oil Corp (TSE:TOU) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$15.84 and last traded at C$15.86, with a volume of 1579168 shares. The stock had previously closed at C$16.51.

A number of research analysts have weighed in on TOU shares. Raymond James lifted their price target on shares of Tourmaline Oil from C$27.50 to C$29.00 and gave the company an “outperform” rating in a research report on Monday, February 25th. BMO Capital Markets set a C$23.00 price target on shares of Tourmaline Oil and gave the company a “market perform” rating in a research report on Wednesday, March 6th. Finally, TD Securities lifted their price target on shares of Tourmaline Oil from C$31.00 to C$32.00 and gave the company a “buy” rating in a research report on Thursday, May 9th.

The stock has a market cap of $4.33 billion and a price-to-earnings ratio of 11.86. 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 (TSE:TOU) last announced its quarterly earnings results on Wednesday, May 8th. The company reported C$0.32 earnings per share for the quarter. The business had revenue of C$664.30 million for the quarter. As a group, research analysts predict that Tourmaline Oil Corp will post 1.3 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.07%. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.10. Tourmaline Oil’s dividend payout ratio (DPR) is currently 29.55%.

In other news, Senior Officer Mike Rose acquired 5,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were bought at an average price of C$19.56 per share, for a total transaction of C$97,776.50. Following the completion of the purchase, the insider now directly owns 10,523,470 shares of the company’s stock, valued at approximately C$205,789,612.89. Also, Director Lucille Miller acquired 1,467 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average price of C$17.73 per share, for a total transaction of C$26,002.58. Following the purchase, the director now directly owns 8,267 shares of the company’s stock, valued at C$146,532.58. Insiders have bought 13,967 shares of company stock worth $251,221 in the last quarter.

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Tourmaline Oil Company Profile (TSE:TOU)

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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