Tourmaline Oil (TSE:TOU) Sets New 52-Week Low at $15.84

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

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

The company has a current ratio of 0.53, a quick ratio of 0.50 and a debt-to-equity ratio of 19.37. The company has a market capitalization of $4.53 billion and a PE ratio of 12.01.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, May 8th. The company reported C$0.32 earnings per share (EPS) for the quarter. The firm had revenue of C$664.30 million for the quarter. Research analysts expect that Tourmaline Oil Corp will post 1.3800001 EPS for the current fiscal year.

The company also recently declared 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.03%. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, June 13th. Tourmaline Oil’s payout ratio is 29.55%.

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

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About Tourmaline Oil (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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