Tourmaline Oil (TSE:TOU) has a market capitalization of C$20.63 billion and generates C$7.10 billion in revenue each year. Tourmaline and Topaz are the third and fourth oil and gas companies that Rose has built into billion-dollar enterprises. He also pointed a steady drumbeat of demand for natural gas is growing across North America and around the world at the same time, which is giving his company a boost. Identify stocks that meet your criteria using seven unique stock screeners. What is the dividend yield for Tourmaline Oil? There are 1 executives at Tourmaline Oil getting paid more, with Michael L. Rose having the highest compensation of $3,483,282. That includes its regular quarterly dividend and a special dividend. Share your thoughts and join the conversation in the comments. Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Unlimited online access to articles from across Canada with one account. On January 23 and 25, Jill Angevine, Director, bought 1,120 shares at C$62.63 and C$65.94. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). Tourmaline Oil trades on the Toronto Stock Exchange (TSX) under the ticker symbol "TOU.". Most recently, Kelcy Warren, Chairman, bought 1.33 million shares at an average price of $12.99 on Feb. 22, according to MarketBeat. It said the increase in net earnings. Dennis da Silva's Top Picks: April 26, 2023, {{data.symbol | reutersRICLabelFormat:group.RICS}}, {{ stock | formatPrefix }}{{ stock.netChng | formatNetChange }}, U.S. natural gas slumps as LNG plant shutdown strands supplies, U.S. natural gas prices slump after fire at Texas LNG terminal, Gas exporters see growing support for East Coast plant in Canada. As a Master Limited Partnership ("MLP"), Energy Transfer also benefits from certain tax advantages. Recently, he sat down with Tim Egan, CEO of the Canadian Gas Association, to discuss Tourmaline's past, present and future, Canada's road to net zero, and how to navigate that path. We have enabled email notificationsyou will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. "originalTitle": "Commodities" Officers | Tourmaline Oil Second, expect a big oil deficit in H2 2023. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). Valuation: Like Tourmaline, Baytex shares look like a bargain here. If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt. 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(TSE:TOU), Barclays Cuts Tourmaline Oil (TSE:TOU) Price Target to C$75.00, DESJARDINS SECURITIES Maintains Tourmaline Oil (TSX:TOU) Buy Recommendation, SCOTIABANK GBM Maintains Tourmaline Oil (TSX:TOU) Outperform Recommendation, Tourmaline Stock: Down 28% and on Sale Today, Tourmaline Oil Corp. (TSE:TOU) Director Janet Weiss Acquires 350 Shares, Tourmaline Oil (TSE:TOU) PT Lowered to C$80.00, BMO Capital Markets Trims Tourmaline Oil (TSE:TOU) Target Price to C$75.00, Tourmaline Oil Corp.: Tourmaline and Clean Energy Announce $70 Million Joint Development Agreement to Build CNG Stations in Western Canada, Tourmaline and Clean Energy Announce $70 Million Joint Development Agreement to Build CNG Stations in Western Canada, Tourmaline Oil (TSE:TOU) Price Target Cut to C$70.00 by Analysts at CIBC, Raymond James Trims Tourmaline Oil (TSE:TOU) Target Price to C$85.00, 4 Reasons Why Tourmaline Oil Stock Is a Buy in April 2023, Oil & gas CEOs are buying millions in company stock: report, Billionaire Leon Cooperman Is Betting On These Oil Stocks: 'I Don't See How You Go Wrong', Leon Cooperman is bullish on oil and has 20% of his portfolio in energy stocks, Brokerages Set Tourmaline Oil Corp. (TSE:TOU) Price Target at C$89.30, Tourmaline Oil (TSE:TOU) Price Target Cut to C$78.00 by Analysts at BMO Capital Markets, BMO Capital Markets Trims Tourmaline Oil (TSE:TOU) Target Price to C$78.00, Stifel Firstegy Research Analysts Reduce Earnings Estimates for Tourmaline Oil Corp. (TSE:TOU), Mike Rose Purchases 5,000 Shares of Tourmaline Oil Corp. (TSE:TOU) Stock, Mike Rose Acquires 5,000 Shares of Tourmaline Oil Corp. (TSE:TOU) Stock. Even after reducing debt by $800 million last year, it has total long-term debt of $48.2 billion. What other stocks do shareholders of Tourmaline Oil own? Odyssey Trust Company1-587-885-0960 (within Canada)1-888-290-1175 (Toll Free). Story continues below Markets never sleep, and neither does Bloomberg News. . View the best growth stocks for 2023 here. "dateRange": "12M", Commodity prices tanking in a worse-than-expected recession, for example, could put pressure on its earnings, and make it harder to service that debt, or at least maintain its distribution payout. Prior thereto, he served as Vice President, Production of Tourmaline since March 2013. He launched Berkley Petroleum Corp. in 1993 and sold it in early 2001 to Anadarko. Mr. Kirker has been the Chief Legal Officer, External Affairs since March 2022. "plotLineColorGrowing": "rgba(15, 164, 207, 1)", Tourmaline made some exciting announcements last week. (Natural) gas demand just keeps building, Rose said. Why Tourmaline Oil Stock Just Fell to 52-week Lows? Natural gas stations coming soon to Canada | Financial Post While he sees less upside for Tourmaline, Bilkoski still has a buy rating on Topaz Energy Corp., an energy royalty and infrastructure spinoff for which all 14 analysts have buy recommendations. Read more about cookies here. What is Tourmaline Oil's stock price forecast for 2023? Seven years on, he's at it again.. ", Prior to joining Tourmaline, Mr. Frostad served as Geologist at Duvernay Oil Corp until its acquisition in 2008. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. In-depth profiles and analysis for 20,000 public companies. Recently, he sat down with Tim Egan, CEO of the Canadian Gas Association, to discuss Tourmaline's past, present and future, Canada's road to net zero, and how to navigate that path. The future doesn't just happen, we. Despite a significant decline in U.S. crude stockpiles, the dollar has risen in value and oil has fallen in price, largely due to the likelihood of the Federal Reserve raising interest rates again next month (which could potentially weaken energy demand further). P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities. "tabs": [ Don't miss this opportunity to take control of your investment strategy and grow your wealth subscribe now! News; Video; That's what I like to see! Tourmaline Oil has received a consensus rating of Buy. Tourmaline has also hiked its regular quarterly dividend by 41 per cent over the last 12 months. I wrote this article myself, and it expresses my own opinions. Prior thereto, he wasVice President, Land and Contractsat Berkley Petroleum Corp. until it was acquired in 2001. In 2019, Tourmaline spun out its royalty business Topaz Energy Corp., named after another gemstone, which listed on the Toronto Stock Exchange in a $230.5 million offering last year. The company earns C$4.49 billion in net income (profit) each year or C$13.10 on an earnings per share basis. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. There was an error, please provide a valid email address. Last year, the company, led by Michael Rose, made four acquisitions valued at a total of $795 million. With its low-cost structure and diversified marketing exposure, CIBC Capital Market analysts say Tourmaline is well-positioned to generate superior returns at a range of natural gas price assumptions. Its shares now yield 9.78%, as of writing. { Ms. Tait has been the Controller of Tourmaline Oil Corp. since September 2015 and was the Manager of Finance prior thereto. Mr. Robinson is a director and the Vice President, Finance and Chief Financial Officer of Tourmaline. You are now being redirected to the BCE.ca website (Bell Canada Enterprises), where you can view our Accessibility plan,and submit your feedback using our Accessibility webform. The company's average rating score is 3.14, and is based on 6 buy ratings, no hold ratings, and no sell ratings. While Baytex appears to be highly leveraged with close to $1 billion in debt, investors should note that $410 million of this debt does not mature until 2027. The contracts often involve "take-or-pay" agreements, which means the clients pay a pre-determined fee to transport, store, or process the oil or gas, regardless of volume. Export data to Excel for your own analysis. "s": "OANDA:NATGASUSD", Prior to joining Tourmaline in 2011, Ms. Tait was the Chief Financial Officer of Cinch Energy Corp., a publically traded junior oil and gas company, which was acquired by Tourmaline. Energy Transfer is currently paying out $1.23 annualized (back to its payout levels before the pandemic hit), after its recent distribution increase. The ex-dividend date of this dividend is Tuesday, March 14th. In fact, there have been 34 open market buys compared to only 6 sells in that timeframe, according to Nasdaq. Tourmaline Oil - Wikipedia Our daily ratings and market update email newsletter. 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That means they have been optimistic about the company in the past, though they may have changed their mind. When is Tourmaline Oil's next earnings date? Previously, Mr. Robinson held numerous positions in finance and accounting with intermediate and senior oil and gas companies commencing his career with a large public accounting firm. The P/E ratio of Tourmaline Oil is 4.65, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 126.86. The dividend payout ratio is 7.63%. This payout ratio is at a healthy, sustainable level, below 75%. Tourmaline is the third oil and gas company Rose has founded and led. The company-specific risks to achieving its price target include infrastructure constraints that may limit Tourmalines ability to tie-in new production and changes to production deliverability assumptions (i.e., initial production rates and production declines) on Tourmalines undeveloped assets.. "largeChartUrl": "https://energynow.ca/markets/", I believe this is a bullish sign for each stock price, for obvious reasons. { US Property Taxes Rose Twice as Fast Last Year Than in 2021. . articles a month for anyone to read, even non-subscribers! So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. The company earned $2.18 billion during the quarter. Unauthorized distribution, transmission or republication strictly prohibited. But the latter half of 2023 seems more promising for a rally in oil & gas prices due to supply concerns, and in the stocks I mention below. Tourmaline still own just over a 50 per cent stake in Topaz. Get exclusive access to the National Post ePaper, an electronic replica of the print edition that you can share, download and comment on. Sign-up to receive the latest news and ratings for Tourmaline Oil and its competitors with MarketBeat's FREE daily newsletter. Rose, a geologist by training who started four successful oil and gas companies in Calgary, has watched his 4.9% stake in Tourmaline balloon to C$1.04 billion ($807 million) from C$662 million since the beginning of this year. After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008 for $5.9 billion. Company News. I discuss oil prices and analyze 3 companies with recent insider buying. Bottom line: Energy Transfer Partners is a lower-risk stock to own in the oil & gas sector, as its earnings and cash flow are far less dependent on commodity prices. Ms. Aspin holds a Bachelor of Commerce degree from the University of Saskatchewan. "isTransparent": false, Tourmaline Oil is Canada's largest natural gas producer, and a leader in employing technology and innovation to produce ever cleaner natural gas. Michael Rose has been working as a Chairman, President & Chief Executive Officer at Tourmaline for 21 years. }, Tourmaline Oil (TSE:TOU) pays an annual dividend of C$1.00 per share and currently has a dividend yield of 1.64%. }, Heres why, Red Alert Ahead: Report Warns More World Oil and Gas Investment Desperately Needed, Capstone Infrastructure Corporations Wild Rose 2 Wind Farm Signs Landmark Agreement with the City of Edmonton, Capping Russian Oil Prices Is Pure Fantasy, Williston Basin Petroleum Conference 2023, Canada Gas & LNG Exhibition and Conference 2023, The Indigenous Partnerships Success Showcase 2023, Operational Excellence in Energy, Chemicals & Resources (OPEX 2023), 2023 NCC Energy and Natural Resource Summit, 9th Annual Digitalization in Oil and Gas Conference (Digitalization 2023). Mike Rose Thanks Jamie. Mr. Mike Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. The special dividends have netted Rose almost C$45 million this year. Its current quarterly dividend of $.25 equals a 1.62% current stock yield. CIBC Capital Market has a $47.50 price target for the stock with an outperform rating. Although it's not the only criteria to consider when evaluating a company, tracking and analyzing insider activity has proven valuable. Among other awards, Mr. Rose is the recipient of the Stanley Slipper Gold Medal from the Canadian Society of Petroleum Geologists (2009). It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline, Canadas second-largest natural gas producer, has jumped 56 per cent over that period thanks to a combination of rising natural gas prices on tight supplies and a series of dividend hikes and special dividend payouts. Valuation: The stock trades at dirt cheap levels, with a P/E ratio of 4.65, and EV/EBITDA of 4.23, both below the sector median. view top-rated stocks among Wall Street analysts, 250 6 Ave SW Suite 3700, CALGARY, AB T2P 3H7, Canada. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. Stockholders of record on Wednesday, March 15th will be given a dividend of 0.25 per share on Friday, March 31st. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. ] Prior thereto, he was the Vice President, Land and Contractsof Duvernay Oil Corp. until its acquisition in 2008 for $5.9 billion. In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. Market Data powered by QuoteMedia. I have no business relationship with any company whose stock is mentioned in this article. "belowLineFillColorGrowing": "rgba(41, 98, 255, 0.12)", Mr. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Here's why: While there are numerous reasons for insiders to sell company shares, there is typically only one reason they buy, and it's a simple one: they believe their company's stock is undervalued, and will rise over time. Prior thereto, he was the Secretary and General Counsel of Tourmaline Oil Corp. since 2008. Analysts are almost universally bullish on Tourmaline, with 12 buy recommendations and just one hold, from TD Securities analyst Aaron Bilkoski, according to data compiled by Bloomberg. "showChart": true, which phrase signals a contrast between ideals about marriage 304-539-8172; one level homes in clemmons, nc casadeglo3@gmail.com Among other awards, Mr. Rose is the recipient of the Stanley Slipper Gold Medal from the Canadian Society of Petroleum Geologists (2009). Overnight on Wall Street is morning in Europe. Tourmaline Oil Corp. (TSE:TOU) released its quarterly earnings results on Wednesday, March, 1st. Markets never sleep, and neither does Bloomberg News. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. Specifically, they have bought C$588,306.00 in company stock and sold C$0.00 in company stock. Rose also purchased 5,000 shares at C$62.77 on January 25. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). And thanks everybody who's on the line. Receive TOU Stock News and Ratings via Email. American Consumer News, LLC dba MarketBeat 2010-2023. Prior thereto, he was Exploration Manager of the Companys NEBC and PRH operating areas, and Senior Geologist at Tourmaline, since February 2009. We ask you to keep your comments relevant and respectful. Mike Rose, chairman and chief executive officer of Tourmaline Oil Corp., listens during an interview in New York, U.S., on Thursday, March 12, 2015. Hes married to Perpetual Energy CEO Sue Riddell-Rose, whose late father Clay Riddell founded Paramount Resources and was a co-owner of the National Hockey Leagues Calgary Flames before hisdeath in 2018. What is Tourmaline Oil's stock price today? Vice President, Finance & Chief Financial Officer. Dennis da Silva's Top Picks: April 26, 2023, {{data.symbol | reutersRICLabelFormat:group.RICS}}, {{ stock | formatPrefix }}{{ stock.netChng | formatNetChange }}, Record 4,800-kilometre voyage for Canadian gas offers relief for Asia, Big Oil is paying out years of dividends in one day. The official website for the company is www.tourmalineoil.com. Mike Rowe has a net worth of $30 million in 2023. While that sounds like a small percentage, Energy Transfer is a $39 billion company, so it represents a huge investment worth more than $1 billion. At the 2022 Canada Energy Assembly and Dinner, Mike Rose, President and CEO of Tourmaline Oil Corp, was presented with the Lifetime Achievement Award, sponso. How often does Tourmaline Oil pay dividends? To help with this, we've discovered 5 warning signs (1 doesn't sit too well with us!) But the company does carry quite a bit of debt. On March 7 and 13, Mike Rose, Senior Officer, bought a combined 10,000 shares at C$55.70 and C$58.77. Insiders from multiple oil & gas companies have been using the recent market downturn as a buying opportunity, acquiring shares of their own companies. After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008. Tourmaline Oil Corp., Canada's largest natural gas producer, enjoyed a stunning second quarter, with net earnings soaring 1,993 per cent, compared to the same period last year, on a production increase of 47 per cent. 2022 was a great year for Baytex, as it says it generated record free cash flow of $622 million ($1.11 per share) on the back of strong production of 83,519 boe/d. Bullish insiders bet CA$9.2m on Tourmaline Oil Corp. (TSE:TOU) The companys updated fiveyear plan, at current prices, delivers $1.8 billion of free cash flow in 2022 and US$7 billion over the full fiveyear duration of the plan. As of 2023, Mike Rowe net worth is calculated to be around $30 million. Access articles from across Canada with one account. The company essentially transports various commodities across the country, namely, crude oil (17% of its adjusted EBITDA), natural gas and refined products (23%), and midstream (nat gas, crude oil, and nat gas liquids (25%). Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Is this happening to you frequently? Michael Rose Net Worth (2023) | wallmine CA Oil prices surged to $80/barrel earlier this month following OPEC's unexpected production cuts. Distribution: One of the key reasons to invest in its stock is for its distribution. Concerned about the content? Photo by Gavin Young/Postmedia files. When you subscribe today, you'll gain immediate access to my top picks, personal portfolio insights, and in-depth analysis of over 140 stocks. }. Tourmaline Oil's stock was trading at C$68.32 at the beginning of the year. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Dividend: The company paid a $7.90 per share dividend last year, which equals a trailing yield of 17.56% based on its current stock price of $45. Tourmaline and Topaz are the third and fourth oil and gas companies that Rose has built into billion-dollar enterprises. Tourmaline Oil pays a meaningful dividend of 1.64%, higher than the bottom 25% of all stocks that pay dividends. Insider buying: Insiders have been buying shares aggressively over the past year. We start this journey in 1998 with England vs. Argentina, the game that had everything. Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. Get short term trading ideas from the MarketBeat Idea Engine. Only 5.47% of the stock of Tourmaline Oil is held by insiders. "title": "Commodities", There are currently 6 buy ratings and 1 strong buy rating for the stock. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? Tourmaline CEO Mike Rose is building an oil company for a post-oil era How many employees does Tourmaline Oil have? Mr. Bush is the Chief Operating Officer of Tourmaline Oil Corp., a position he has held since April 2014.
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