Tourmaline Oil (OTCMKTS:TRMLF) Trading Down 0.9% - Here's Why

Tourmaline Oil Corp. (OTCMKTS:TRMLF - Get Free Report) dropped 0.9% during mid-day trading on Monday . The stock traded as low as $47.38 and last traded at $46.37. Approximately 118,546 shares changed hands during mid-day trading, an increase of 70% from the average daily volume of 69,749 shares. The stock had previously closed at $46.81.

Analysts Set New Price Targets

Separately, Cibc World Mkts raised shares of Tourmaline Oil to a "strong-buy" rating in a research note on Friday, October 18th.

Tourmaline Oil Trading Down 2.0 %

The business's 50-day moving average is $45.46 and its two-hundred day moving average is $45.10. The firm has a market cap of $17.67 billion, a P/E ratio of 14.60, a P/E/G ratio of 1.84 and a beta of -0.56. 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 Cuts Dividend

The business also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were paid a $0.2486 dividend. This represents a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, December 16th. Tourmaline Oil's dividend payout ratio is currently 31.79%.

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.