Prior thereto, he was Completions Manager at Tourmaline since May 2013. TSE:TOU opened at C$56.23 on Wednesday. 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. I believe this is a bullish sign for each stock price, for obvious reasons. 911 lone star season 1 episode 1 watch online. US Property Taxes Rose Twice as Fast Last Year Than in 2021. . Monitor your investments 24 hours a day, around the clock from around the globe. All rights reserved. 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 his death in 2018. Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. There are plenty of other companies that have insiders buying up shares. Several members of the leadership team have been with Rose at all three companies. And, it expects to end the year with a cash positive position. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. This payout ratio is at a healthy, sustainable level, below 75%. First, it's worth taking a step back to understand the current oil price action to see why there have been sell-offs in oil & gas stocks in the first place. The special dividends have netted Rose almost C$45 million this year. Tourmaline Oil (TSE:TOU) has a market capitalization of C$20.63 billion and generates C$7.10 billion in revenue each year. After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008. Shares of TOU stock and other Canadian stocks can be purchased through an online brokerage account. "belowLineFillColorGrowing": "rgba(41, 98, 255, 0.12)", Tourmaline Oil has a PEG Ratio of 1.72. 1 for 4 weeks, Alibaba's Jack Ma turns up in Japan as college professor, On May Day, workers rally for better labor conditions, 'Waste of time': Community college transfers derail students. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Markets never sleep, and neither does Bloomberg News. Tourmaline had net income in the last three months of 2020 of $629 million, more than 10 times the $61.3 million it reported in the same period of 2019. }. Ms. Beck has been the Corporate Secretary of Tourmaline Oil Corp. since March 2021 and the Associate General Counsel of the Company since 2017. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. Mr. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. 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 pays a meaningful dividend of 1.64%, higher than the bottom 25% of all stocks that pay dividends. The combined co. will command a higher market cap ($5 billion), stronger production, more liquidity, and a greater ability to return capital to shareholders. Michael Rose, president and CEO of Tourmaline Oil, spoke with Weekly host Andrew McCreath about his companys outlook on pricing, revenue and cash flow. We currently account for open market transactions and private dispositions, but not derivative transactions. Most recently, Kendall Douglas Arthur, Senior Officer, bought 10,000 shares at C$5.50 (US$4.08) on March 7. Last year, the company, led by Michael Rose, made four acquisitions valued at a total of $795 million. To help with this, we've discovered 5 warning signs (1 doesn't sit too well with us!) "width": "100%", Among other awards, Mr. Rose is the recipient of the Stanley Slipper Gold Medal from the Canadian Society of Petroleum Geologists (2009). It's common to see an oil company of its size carry billions in debt on the balance sheet in this capital-intensive industry. 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. Michael Rose, president and CEO of Tourmaline Oil, . Mr. Tumbach holds a Bachelor of Commerce degree from the University of Calgary and isa Member of the Canadian Association of Petroleum Landmen. That means. In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. "plotLineColorFalling": "rgba(41, 98, 255, 1)", We aim to bring you long-term focused analysis driven by fundamental data. [Gas in Transition, Volume 2, Issue 5] I wrote this article myself, and it expresses my own opinions. Visit our Community Guidelines for more information and details on how to adjust your email settings. 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. He founded Berkley Petroleum Corp. in 1993 and sold it to Anadarko Petroleum in 2001 before starting Duvernay Oil Corp., which he sold to Shell Canada Ltd. for $5.9 billion in 2008. When is Tourmaline Oil's next earnings date? Tourmaline Oil Corp. (TSE:TOU) released its quarterly earnings results on Wednesday, March, 1st. In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. Mr. Frostad holds a Master of Science (Geology) and Bachelor of Science (Geology) from the University of Calgary. This advertisement has not loaded yet, but your article continues below. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. 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. Acquisition activity is looking prescient, least of which is a +22 per cent increase in the 2022e NYMEX natural gas futures strip since its prior print, though we suspect this will be aided by the application of the Tourmaline execution machine on acquired assets and overall exceptional cost structure synergies, said Robert Fitzmartyn. Tourmaline, Canadas second-largest natural gas producer, has jumped 56% 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. While there are numerous reasons for insiders to sell company shares, there is typically only one reason they buy. The bottom line: Investors who can stomach the short-term volatility and the possibility of lower oil & gas prices this quarter may be rewarded handsomely in H2 2023 and beyond. Insiders have been buying shares at three oil & gas companies lately. Access advanced stock screeners, portfolio monitoring tools, proprietary research reports, and more. This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. "isTransparent": false, The company earned $2.18 billion during the quarter. The stock is a high-yielder that should continue to pump out consistent distributions every quarter, and its near-10% yield looks sustainable, despite the company's debt load. mike rose tourmaline net worth. I wrote this article myself, and it expresses my own opinions. Mr. Rose said an $8-million investment in the project has already saved Tourmaline more than $25-million in fuel costs. Note: The lower trading volume on the U.S. OTC exchange, and the potential for high trading fees on brokerage accounts, is a risk for U.S. investors to consider. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. You have already added five stocks to your watchlist. The following insiders have purchased ET shares in the last two years, according to MarketBeat (with dollar value): Approximately 3.28% of its stock is owned by insiders. Baytex Energy Corp. is crude oil and natural gas producer with operations in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. 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. My areas of expertise include investing in gold and silver miners, royalty and streaming companies, pure exploration companies, as well as oil and gas producers and MLPs. According to reliable sources, he means about $5 million to $10 million per year from his endorsements and television endeavors. On April 17, Janet Weiss, Director, bought 350 shares at C$45.58. 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. Oil's short-term outlook remains uncertain for these reasons. 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. Soaring natural gas prices have propelled Tourmaline Oil Corp. Chief Executive Officer Mike Rose into the ranks of Canadas billionaires. He is also Member of Canadian Society of Petroleum . With Fed Decision Looming, Economy and Markets Wait Google Stock Concerned About AI? 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. 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. We apologize, but this video has failed to load. The ex-dividend date of this dividend is Tuesday, March 14th. Ms. Beck holds a Bachelor of Arts (Economics) degree from the University of British Columbia and a Bachelor of Laws degree from Dalhousie University. Read more about cookies here. What is Tourmaline Oil's stock price today? The special dividends have netted Rose almost $45 million this year. What other stocks do shareholders of Tourmaline Oil own? 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). "d": "NYMEX Natural Gas" 365 Bloor Street East, Toronto, Ontario, M4W 3L4. Guests watch a video detailing the announcement of a $70 million joint development agreement between Tourmaline Oil Corp. and Clean Energy Fuels Corp. to build CNG stations in Western Canada. Energy Transfer is currently paying out $1.23 annualized (back to its payout levels before the pandemic hit), after its recent distribution increase. The information you requested is not available at this time, please check back again soon. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. The information you requested is not available at this time, please check back again soon. If you don't see it, please check your junk folder. 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Second, expect a big oil deficit in H2 2023. Market Data powered by QuoteMedia. Without further ado, here are three oil & gas stocks that have recently experienced recent insider buying. Dividend: One potential downside of owning the stock is the fact that it (currently) does not pay a dividend. that you ought to be aware of before buying any shares in Tourmaline Oil. (844) 978-6257. Looking for buying opportunities? How many employees does Tourmaline Oil have? Tourmaline Oil's mailing address is 250 6 Ave SW Suite 3700, CALGARY, AB T2P 3H7, Canada. The company employs 322 workers across the globe. What Stock Would You Invest $5,000 in Right Now? Daily puzzles including the New York Times Crossword. 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. Prior to joining Tourmaline, Ms. Aspin was a member of the Marketing team at Duvernay Oil Corp. from 2004 until its acquisition in 2008. Odyssey Trust Company1-587-885-0960 (within Canada)1-888-290-1175 (Toll Free). There are 14 executives at Paramount Resources getting paid more, with James Riddell having the highest compensation of $1,815,460. Risks to consider: Energy Transfer has stable, consistent cash flow and earnings from its largely fee-based contracts. It's a proven operator with strong, diversified production in North America, low cash costs, and one of the strongest balance sheets in the oil & gas sector. Potential Tourmaline Oil Corp. (TSE:TOU) shareholders may wish to note that the Chairman of the Board, Michael Rose, recently bought CA$238k worth of stock, paying CA$23.79 for each share. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. I detail the insider transactions, provide an overview of each company and its valuation, and offer a bottom line for investors. Prior thereto, he was the Secretary and General Counsel of Tourmaline Oil Corp. since 2008. articles a month for anyone to read, even non-subscribers! } Receive TOU Stock News and Ratings via Email. View which stocks are hot on social media with MarketBeat's trending stocks report. Entering text into the input field will update the search result below. 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. Tourmaline is part of the Electricity, Oil & Gas industry, and located in Canada. What is Tourmaline Oil's stock price forecast for 2023? "gridLineColor": "rgba(42, 46, 57, 0)", See what's happening in the market right now with MarketBeat's real-time news feed. In fact, there have been 34 open market buys compared to only 6 sells in that timeframe, according to Nasdaq. 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. Ms. Tait has been the Controller of Tourmaline Oil Corp. since September 2015 and was the Manager of Finance prior thereto. Mr. McKinnon has served as the Vice President, Operations of Tourmaline Oil Corp. since May 2015. Tourmaline Oil is Canada's largest natural gas producer, and a leader in employing technology and innovation to produce ever cleaner natural gas. The companys earnings in the first quarter were lifted on non-cash gains of $321 million, topping analyst expectations, and modestly raised its capex to $1.27 billion this year. 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The oldest executive at Tourmaline Oil Corp. is JohnElick, 77, who is the Independent Director. 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. In the last twelve months, the biggest single purchase by an insider was when Chairman of the Board Michael Rose bought CA$763k worth of shares at a price of CA$77.43 per share. He wrote in a note earlier this month that Tourmaline has been a fantastic Canadian natural-gas business, with nearly flawless strategic execution over the past several years but that its valuation had become stretched.. Get exclusive access to the National Post ePaper, an electronic replica of the print edition that you can share, download and comment on. Mike Rose, Tourmaline's president and CEO, said: "Our long-term supply agreement with Cheniere is the next important step in [the company's] evolving market diversification . President, Chief Executive Officer a Director of Tourmaline Oil, the total compensation of Michael Rose at Tourmaline Oil is $3,373,190. This idea was discussed in more depth with members of my private investing community, The Gold Bull Portfolio. "height": "500", 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. It owns a diverse portfolio of assets, including pipelines and storage facilities. On March 7 and 13, Mike Rose, Senior Officer, bought a combined 10,000 shares at C$55.70 and C$58.77. Mr. Bush served as Completions and Operations Engineering Manager of Duvernay Oil Corp. until its acquisition in 2008. 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. Please log in to your account or sign up in order to add this asset to your watchlist. "showChart": true, 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Mr. Kirker holds a Bachelor of Arts degree and a Masters of Science in Psychology, both from the University of Calgary, as well as a Bachelor of Laws degree from the University of Alberta. Tourmaline Location 250-6th Ave SW Ste 2900, Calgary, Alberta, T2P 3H7, Canada Description Industry Electricity, Oil & Gas Energy, Utilities & Waste Treatment 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.. News; Video; Baytex's vision is to grow into a top-tier North American oil producer focused on per share value creation, according to the company. In the past three months, Tourmaline Oil insiders have bought more of their company's stock than they have sold. Tourmaline gained the mineral rights by giving Perpetual Energy about 6.75 million share of Tourmaline stock, worth approximately CAN$256.5 million. Specifically, they have bought C$588,306.00 in company stock and sold C$0.00 in company stock. 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 Oils/Energy sector average P/E ratio of about 56.11. On March 7 and 13, Mike Rose, Senior Officer, bought a combined 10,000 shares at C$55.70 and C$58.77. What is the dividend yield for Tourmaline Oil? So we are pleased to announce a very strong Q2 2020 with significant free cash flow generation. As the Chairman of the Board, President, Chief Executive Officer, and Director of Tourmaline Oil, the total compensation of Michael Rose at Tourmaline Oil is $3,373,190. The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 3rd 2023. Please be aware of the risks associated with these stocks. there have been sell-offs in oil & gas stocks in the first place. Analysts Disclosure: I/we have a beneficial long position in the shares of TRMLF either through stock ownership, options, or other derivatives. It also carries a book value per share of over $40, just shy of its current share price. Tourmaline stands out to me as a super-attractive oil & gas stock for several reasons: Insider buying: Three insiders at Tourmaline Oil Corp. have bought C$6 million (US$4.45 million) worth of shares over the past year, according to MarketBeat. UPDATE 1-U.S. regulator seizes First Republic Bank, to sell assets to JP Morgan, U.S. regulator seizes First Republic Bank, to sell assets to JP Morgan, Morgan Stanleys Wilson Says Hawkish Fed Surprise to Roil Stocks, Australian 7-Eleven franchise puts 700-store chain up for sale, UPDATE 1-Sudan conflict shows no sign of easing, Sudanese brace for more violence. 2021 average. 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. Here's why Energy Transfer looks like an attractive investment opportunity. Prior thereto, he was the Vice President, Land and Contractsof Duvernay Oil Corp. until its acquisition in 2008 for $5.9 billion. Rose owns a 0.4% stake in Topaz, worth about C$12 million. View analysts price targets for TOU or view top-rated stocks among Wall Street analysts. Should I buy or sell Tourmaline Oil stock right now? Mr. Rose is a member of the Association of Professional Engineers and Geoscientists of Alberta and the Canadian Society of Petroleum Geologists. Mr. Frostad has served as the Vice President, Exploration of Tourmaline Oil Corp. since November 2019. contact@marketbeat.com 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). We start this journey in 1998 with England vs. Argentina, the game that had everything. Its shares now yield 9.78%, as of writing. [Gas in Transition, Volume 2, Issue 5] But, I will also point out that the stock is only worth considering if you fully understand the tax implications and potential drawbacks of owning an MLP. "s": "USOIL", Billionaire Tom Steyer Plans Net Zero Apartment Upgrades Across US. Tourmaline Oil is Canada's largest natural gas producer, and a leader in employing technology and innovation to produce ever cleaner natural gas. 57.64% of the stock of Tourmaline Oil is held by institutions. As the Director of Paramount Resources, the total compensation of Susan Rose at Paramount Resources is CAD$70,000. We ask you to keep your comments relevant and respectful. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. "belowLineFillColorFalling": "rgba(41, 98, 255, 0.12)", Insiders from multiple oil & gas companies have been using the recent market downturn as a buying opportunity, acquiring shares of their own companies. View TOU analyst ratings or view top-rated stocks. Tourmaline Oil has received a consensus rating of Buy. Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. 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.
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