Q: What do you make of their report?
5i Research Answer:
TOU has declared a special 50c dividend and raised its regular dividend by 7%. EPS of $2.00 beat estimates of $1.47, and was up sharply from the prior year. Production rose 8.9% to 557,000 boe/d. It was a solid quarter...BUT...the company did reduce production guidance to 580,000 boe/d to 590,000 boe/d. This is below current 603,000 estimates. Still, the dividend moves will likely appease investors here and we would not be too concerned.