Tourmaline Oil Corp. (TRMLF) to Issue Dividend of $0.35 on March 31st

Tourmaline Oil Corp. (OTCMKTS:TRMLF) announced a dividend on Tuesday, March 11th, investing.com reports. Investors of record on Monday, March 17th will be paid a dividend of 0.3504 per share on Monday, March 31st. This represents a yield of 3.14%. The ex-dividend date of this dividend is Friday, March 14th. This is a 44.1% increase from Tourmaline Oil’s previous dividend of $0.24.

Tourmaline Oil Stock Performance

OTCMKTS TRMLF traded up $0.37 on Wednesday, hitting $45.02. 90,348 shares of the company’s stock traded hands, compared to its average volume of 88,136. The firm’s 50-day moving average price is $46.87 and its two-hundred day moving average price is $45.91. The firm has a market capitalization of $16.82 billion, a PE ratio of 13.90, a P/E/G ratio of 0.83 and a beta of -0.54. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.10. Tourmaline Oil has a 1-year low of $36.93 and a 1-year high of $51.15.

Tourmaline Oil (OTCMKTS:TRMLF) last posted its earnings results on Wednesday, March 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.05). The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.59 billion. Tourmaline Oil had a net margin of 27.12% and a return on equity of 11.06%. As a group, analysts expect that Tourmaline Oil will post 2.52 EPS for the current year.

Analysts Set New Price Targets

Separately, Cormark raised shares of Tourmaline Oil to a “moderate buy” rating in a report on Friday, March 7th.

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.