The official website for the company is www.tourmalineoil.com. This advertisement has not loaded yet, but your article continues below. The Ranger Oil acquisition looks like a transformative move for the company, and, I think it's a good sign that insiders have been buying ahead of the closing of the acquisition. You have already added five stocks to your watchlist. Michael Rose has been working as a Chairman, President & Chief Executive Officer at Tourmaline for 21 years. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). The combined co. will command a higher market cap ($5 billion), stronger production, more liquidity, and a greater ability to return capital to shareholders. The oldest executive at Tourmaline Oil Corp. is JohnElick, 77, who is the Independent Director. In fact, there have been 34 open market buys compared to only 6 sells in that timeframe, according to Nasdaq. On April 17, Janet Weiss, Director, bought 350 shares at C$45.58. contact@marketbeat.com Mr. Bush holds aBachelors degree in Mining Engineering from Montana College of Mineral Science and Technology, Butte Montana. Dividend: One potential downside of owning the stock is the fact that it (currently) does not pay a dividend. A high insider ownership often makes company leadership more mindful of shareholder interests. It's common to see an oil company of its size carry billions in debt on the balance sheet in this capital-intensive industry. Specifically, they have bought C$588,306.00 in company stock and sold C$0.00 in company stock. Prior thereto, he was the Manager, Corporate Affairs atDuvernay Oil Corp., until its acquisition in 2008 for $5.9 billion. Note: The lower trading volume on the U.S. OTC exchange, and the potential for high trading fees on brokerage accounts, is a risk for U.S. investors to consider. He is a member of the Association of Professional Engineers and Geoscientists of Alberta and the Canadian Society of Petroleum Geologists. While he sees less upside for Tourmaline, Bilkoski still has a buy rating on Topaz Energy Corp., an energy royalty and infrastructure spinoff for which all 14 analysts have buy recommendations. Michael Rose, CEO of Tourmaline OIl Corp. , which the company says essentially offsets its estimated, Enbridge beats profit estimates as oil volumes rebound, LNG Canada project threatened amid cost dispute over Coastal GasLink pipeline, Cenovus Energy posts 2% rise in quarterly profit, exposure, CIBC Capital Market analysts say, billion of free cash flow in 2022 and US$, are lower commodity prices and rising industry costs, tap here to see other videos from our team. Please try again. 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 Oil has a P/B Ratio of 1.51. Valuation: Like Tourmaline, Baytex shares look like a bargain here. 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. 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Tourmaline Oil pays a meaningful dividend of 1.64%, higher than the bottom 25% of all stocks that pay dividends. Wallmine is a radically better financial terminal. This should lead to annual operating cash flow just shy of $4 billion and free cash flow of $2 billion, according to company estimates published at its corporate presentation. Access to my personal gold portfolio and build your own winning portfolio. Tourmaline is Canada's largest natural gas producer and its fourth-largest gas processing midstream operator. "d": "NYMEX Natural Gas" Overnight on Wall Street is morning in Europe. "s": "OANDA:NATGASUSD", Real-time analyst ratings, insider transactions, earnings data, and more. Tourmaline has also hiked its regular quarterly dividend by 41% over the last 12 months. Michael Rose, CEO of Tourmaline OIl Corp. Photo by Jim Wells/Postmedia. 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. There are plenty of other companies that have insiders buying up shares. Rose owns a 0.4% stake in Topaz, worth about C$12 million. }, 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. Join the exclusive community of smart investors who trustThe Gold Bull for expert analysis on all commodity stocks! Most recently, Kendall Douglas Arthur, Senior Officer, bought 10,000 shares at C$5.50 (US$4.08) on March 7. "plotLineColorFalling": "rgba(41, 98, 255, 1)", How were Tourmaline Oil's earnings last quarter? 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). Support local journalists and the next generation of journalists. Concerned about the content? Tourmaline Oil has only been the subject of 2 research reports in the past 90 days. 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. Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. If you don't see it, please check your junk folder. 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. How often does Tourmaline Oil pay dividends? 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. "isTransparent": false, Watch: Tourmaline Oil CEO Michael Rose on building CNG stations with Clean Energy Fuels in Western Canada. Tourmaline Oil Corp., Canadas 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. I have no business relationship with any company whose stock is mentioned in this article. We currently account for open market transactions and private dispositions, but not derivative transactions. } 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. 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. }, Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. "symbolActiveColor": "rgba(30, 200, 700, 0.41)", I am not receiving compensation for it (other than from Seeking Alpha). 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. We continue to see the stock as a go-to name for natural gas exposure through H2/21, according to Jamie Kubik, analyst at CIBC Capital Markets. 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. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. Get in touch with us directly. 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. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. "belowLineFillColorGrowing": "rgba(41, 98, 255, 0.12)", I am here with Mike Rose, Tourmaline's President and Chief Executive Officer; Brian Robinson, Vice President of Finance and Chief Financial Officer; and Jamie Heard, Tourmaline's Senior. 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. 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. June 14, 2022; utpal parrikar education . And, it expects to end the year with a cash positive position. Tourmaline Oil's stock was trading at C$68.32 at the beginning of the year. Get daily stock ideas from top-performing Wall Street analysts. Sign-up to receive the latest news and ratings for Tourmaline Oil and its competitors with MarketBeat's FREE daily newsletter. View TOU analyst ratings or view top-rated stocks. Daily puzzles including the New York Times Crossword. { But over a five-year period, the stock has only edged up 0.15 per cent. As of 2023, Mike Rowe net worth is calculated to be around $30 million. One share of TOU stock can currently be purchased for approximately C$60.87. Michael L. Rose founded Tourmaline Oil Corp., Duvernay Oil Corp. and Berkley Petroleum Corp. Mr. Rose holds the position of Chairman, President & Chief Executive Officer of Tourmaline Oil Corp. and Chairman at Topaz Energy Corp. (a subsidiary of Tourmaline Oil Corp.). Additionally, its shares look even more attractive looking out 12 months, as it carries a forward P/E of just 6.86, according to Yahoo Finance. "locale": "en", While there are numerous reasons for insiders to sell company shares, there is typically only one reason they buy. 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. Ms. Aspin holds a Bachelor of Commerce degree from the University of Saskatchewan. With its low-cost structure and diversified marketing exposure, analysts say Tourmaline is well-positioned to generate superior returns. Based on aggregate information from My MarketBeat watchlists, some companies that other Tourmaline Oil investors own include Intact Financial (IFC), Constellation Software (CSU), Peyto Exploration & Development (PEY), Alimentation Couche-Tard (ATD.B), AutoCanada (ACQ), Vermilion Energy (VET), Toronto-Dominion Bank (TD), AbbVie (ABBV), Agnico Eagle Mines (AEM) and Enbridge (ENB). Ms. Tait has been the Controller of Tourmaline Oil Corp. since September 2015 and was the Manager of Finance prior thereto. Soaring natural gas prices have propelled Tourmaline Oil Corp. Chief Executive Officer Mike Rose into the ranks of Canada's billionaires.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 from C$662 million since the beginning of this year. Should I buy or sell Tourmaline Oil stock right now? It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. }, And thanks everybody who's on the line. 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. China's Services Activity Surges to More Than Two-Year High. "belowLineFillColorFalling": "rgba(41, 98, 255, 0.12)", Receive TOU Stock News and Ratings via Email. Tourmaline Oil Trading Up 1.9 %. Should You Be Too? Mike Rowe has a net worth of $30 million in 2023. National Bank analyst Dan Payne calls the company stock best in breed, noting that the company has structurally gapped away from the peers, which should continue to yield outsized returns and value.. 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.. Prior to joining Cinch, Ms. Tait was an audit manager at Ernst & Young Chartered Accountants. The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 3rd 2023. Soaring natural gas prices have propelled Tourmaline Oil Corp. Chief Executive Officer Mike Rose into the ranks of Canadas billionaires. 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. The special dividends have netted Rose almost $45 million this year. Mr. Tumbach holds a Bachelor of Commerce degree from the University of Calgary and isa Member of the Canadian Association of Petroleum Landmen. Tourmaline Oil insiders own about CA$497m worth of shares (which is 7.0% of the company). 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 executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Oil's short-term outlook remains uncertain for these reasons. "d": "WCS Heavy" Tourmaline gained the mineral rights by giving Perpetual Energy about 6.75 million share of Tourmaline stock, worth approximately CAN$256.5 million. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). On March 7 and 13, Mike Rose, Senior Officer, bought a combined 10,000 shares at C$55.70 and C$58.77. Get 30 Days of MarketBeat All Access Free, By creating a free account, you agree to our, First Republic up in air as regulators juggle bank's fate, Stock market today: Tokyo gains, most Asian markets closed, Regulators seize First Republic Bank, sell to JPMorgan Chase, 'Super Mario Bros. Movie' hits $1B, is No. 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. Markets never sleep, and neither does Bloomberg News. Tourmaline Oil has received a consensus rating of Buy. The company has been on an acquisition spree, having completed the purchase of Black Swan Energy Ltd., and Paramount Resources Ltd.s land assets in North Montney. Tourmaline is the third oil and gas company Rose has founded and led. Read our dividend analysis for TOU. What is Tourmaline Oil's stock price today? Beginning in January 2023, Tourmaline will supply 140,000 mmBtu per day (approximately 140 mmcf/d) to the Corpus Christi liquefaction terminal for a 15-year term. Its shares carry a P/E of 3.49 (below the sector median of 7.59), and an EV/EBITDA of 2.76 (vs. 5.53 sector median), according to data from Seeking Alpha. Subscribe now to read the latest news in your city and across Canada. This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders. I detail the insider transactions, provide an overview of each company and its valuation, and offer a bottom line for investors. ] Watch the video above to hear more of Roses conversation with Andrew McCreath. Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. [Gas in Transition, Volume 2, Issue 5] Tourmaline, led by chief executive officer Mike Rose, is buying Black Swan Ltd. for about $750-million in 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 market average P/E ratio of about 126.86. Tourmaline Oil declared a quarterly dividend on Wednesday, March 1st. The company has a fifty day moving average of C$60.92 and a 200 day moving average of C$70.22. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Mr. Kirker has been the Chief Legal Officer, External Affairs since March 2022. Mathematician and author Hannah Fry investigates patterns in human behavior, AI and the creative ideas behind the organizations and pioneers transforming society. 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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. 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. which phrase signals a contrast between ideals about marriage 304-539-8172; one level homes in clemmons, nc casadeglo3@gmail.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). Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. Tourmaline and Topaz are the third and fourth oil and gas companies that Rose has built into billion-dollar enterprises. "width": "100%", Share your thoughts and join the conversation in the comments. TSE:TOU opened at C$56.23 on Wednesday. Corporate Secretary and Associate General Counsel. Mr. Frostad has served as the Vice President, Exploration of Tourmaline Oil Corp. since November 2019. Get email updates from your favourite authors. After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008 for $5.9 billion. Analysts Disclosure: I/we have a beneficial long position in the shares of TRMLF either through stock ownership, options, or other derivatives. Insider buying: Four separate insiders have purchased C$283,312 worth of stock over the past 12 months, according to MarketBeat. 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. Since then, TOU shares have decreased by 10.9% and is now trading at C$60.87. Insiders have purchased 14.86 million shares. 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. Rose also purchased 5,000 shares at C$62.77 on January 25. The company was incorporated in 2008 and is headquartered in Calgary, Canada. 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. Only 5.47% of the stock of Tourmaline Oil is held by insiders. Michael L. Rose serves as Chairman of the Board, President, Chief Executive Officer, Director of the Company. There are 14 executives at Paramount Resources getting paid more, with James Riddell having the highest compensation of $1,815,460. ], Vice President, Finance & Chief Financial Officer. (Natural) gas demand just keeps building, Rose said. Tourmaline has also hiked its regular quarterly dividend by 41 per cent over the last 12 months. The consensus among Wall Street research analysts is that investors should "buy" TOU shares. When is Tourmaline Oil's next earnings date? You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. View the best growth stocks for 2023 here. Prior thereto, he was the Vice President, Land and Contractsof Duvernay Oil Corp. until its acquisition in 2008 for $5.9 billion. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. 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. Rose, a geologist by training who started four successful oil and gas companies in Calgary, has watched his 4.9 per cent stake in Tourmaline balloon to $1.04 billionfrom $662 million since the beginning of this year. There are 1 executives at Tourmaline Oil getting paid more, with Michael L. Rose having the highest compensation of $3,483,282. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. Last updated: 1 April 2023 at 11:00am EST. "largeChartUrl": "https://energynow.ca/markets/", The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of $2.90 by $2.99. There are 1 executives at Tourmaline Oil getting paid more, with Michael L. Rose having the highest compensation of $3,483,282. To see all exchange delays and terms of use please see Barchart's disclaimer. 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. According to the International Energy Agency's (IEA), Finally, remember that the U.S. has stated it intends to refill the. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser.
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