Shares of Tourmaline Oil Corp (TSE:TOU) hit a new 52-week low during trading on Thursday . The company traded as low as C$17.34 and last traded at C$17.79, with a volume of 694253 shares trading hands. The stock had previously closed at C$18.57.
TOU has been the topic of several recent analyst reports. BMO Capital Markets lowered their target price on shares of Tourmaline Oil from C$26.00 to C$25.00 in a research note on Friday, November 9th. CIBC lowered their target price on shares of Tourmaline Oil from C$30.00 to C$27.50 in a research note on Thursday, November 22nd. Raymond James lowered their target price on shares of Tourmaline Oil from C$35.00 to C$29.50 in a research note on Friday, October 5th. Finally, TD Securities reiterated a “buy” rating and issued a C$27.00 target price on shares of Tourmaline Oil in a research note on Thursday, November 8th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Tourmaline Oil presently has an average rating of “Buy” and a consensus price target of C$29.00.
The company has a quick ratio of 0.32, a current ratio of 0.36 and a debt-to-equity ratio of 18.20.
Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, November 7th. The company reported C$0.20 earnings per share (EPS) for the quarter. The firm had revenue of C$407.18 million during the quarter. As a group, analysts anticipate that Tourmaline Oil Corp will post 1.46000002299213 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 28th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.25%. The ex-dividend date is Thursday, December 13th. Tourmaline Oil’s dividend payout ratio is presently 24.52%.
In related news, insider Mike Rose acquired 2,500 shares of the stock in a transaction dated Wednesday, September 19th. The shares were purchased at an average price of C$21.00 per share, for a total transaction of C$52,500.00. Also, insider William Scott Kirker acquired 2,000 shares of the stock in a transaction dated Thursday, December 6th. The shares were bought at an average price of C$17.68 per share, for a total transaction of C$35,360.00. Insiders acquired a total of 60,000 shares of company stock worth $1,153,950 over 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 petroleum and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Peace River High, Alberta Deep Basin, and NEBC Montney areas.
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