Tourmaline Oil had a trailing twelve-month return on equity of 35.48% and a net margin of 63.21%. 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. }, Tourmaline Oil (TSE:TOU) pays an annual dividend of C$1.00 per share and currently has a dividend yield of 1.64%. Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. 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. Soaring natural gas prices have propelled Tourmaline Oil Corp. Chief Executive Officer Mike Rose into the ranks of Canadas billionaires. 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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. President, Chief Executive Officer a Director of Tourmaline Oil, the total compensation of Michael Rose at Tourmaline Oil is $3,373,190. 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. Mr. Rose has more than 38 years of experience in the oil and gas industry and held various exploration and production positions including managing exploration and petroleum engineering research for a large E&P company before founding Berkley Petroleum Corp. ("Berkley") in 1993. One share of TOU stock can currently be purchased for approximately C$60.87. We aim to bring you long-term focused analysis driven by fundamental data. He is a member of the Association of Professional Engineers and Geoscientists of Alberta, Engineers and Geoscientists British Columbia and the Canadian Society of Petroleum Geologists. 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. First, investors should note that the OPEC cuts have not yet taken effect (they begin in May). }, "height": "500", "symbolActiveColor": "rgba(30, 200, 700, 0.41)", The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of $2.90 by $2.99. "width": "100%", 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. Mike Rose Thanks Jamie. 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I have no business relationship with any company whose stock is mentioned in this article. Why Tourmaline Oil Stock Just Fell to 52-week Lows? 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. Tourmaline Oil's mailing address is 250 6 Ave SW Suite 3700, CALGARY, AB T2P 3H7, Canada. Tourmaline Oil does not have a long track record of dividend growth. The company earned $2.18 billion during the quarter. View our TOU earnings forecast. Prior to joining Cinch, Ms. Tait was an audit manager at Ernst & Young Chartered Accountants. Michael Rose is 62, he's been the Chairman of the Board, President, Chief Executive Officer, and Director of Tourmaline Oil since 2008. Prior thereto, he served as Vice President, Production of Tourmaline since March 2013. However, oil prices have since declined, nearly erasing the gains from OPEC's decision. You probably do not want to miss this free list of growing companies that insiders are buying. On January 23 and 25, Jill Angevine, Director, bought 1,120 shares at C$62.63 and C$65.94. 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. Real-time analyst ratings, insider transactions, earnings data, and more. 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. It also carries a book value per share of over $40, just shy of its current share price. Ms. Tait has been the Controller of Tourmaline Oil Corp. since September 2015 and was the Manager of Finance prior thereto. We believe the recent pause in the shares represents an opportunity as we move into the fall of 2021. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. 57.64% of the stock of Tourmaline Oil is held by institutions. Tourmaline gained the mineral rights by giving Perpetual Energy about 6.75 million share of Tourmaline stock, worth approximately CAN$256.5 million. 911 lone star season 1 episode 1 watch online. "largeChartUrl": "https://energynow.ca/markets/", For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. 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. While there are numerous reasons for insiders to sell company shares, there is typically only one reason they buy. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. "d": "Brent Crude (UKOIL)" 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. And, as a special welcome offer, new subscribers can try out our service risk-free with a free 2-week trial and receive a 10% discount on annual subscriptions. FourFourTwo Films is celebrating the last 20 years of World Cup history through a game, a player, a moment, a team and a goal all that makes the World Cup great. Since then, TOU shares have decreased by 10.9% and is now trading at C$60.87. 7 brokers have issued twelve-month target prices for Tourmaline Oil's shares. 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. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. He is a member of the Association of Professional Engineers and Geoscientists of Alberta and the Canadian Society of Petroleum Geologists. Is the stock too good to be true? Most recently, Kelcy Warren, Chairman, bought 1.33 million shares at an average price of $12.99 on Feb. 22, according to MarketBeat. After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008. The following June, Tourmaline purchased Mapan Energy for CAN$106 million in stock. 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. That's what I like to see! Mr. Rose is a member of the Association of Professional Engineers and Geoscientists of Alberta and the Canadian Society of Petroleum Geologists. Baytex's vision is to grow into a top-tier North American oil producer focused on per share value creation, according to the company. that you ought to be aware of before buying any shares in Tourmaline Oil. In this case we're pleased to report that the insider purchases were made at close to current prices. 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.. "isTransparent": false, Mr. Robinson has more than 37 years of experience in the oil and gas industry in the disciplines of finance, financial reporting, budgeting, accounting, management, treasury, tax, and business development. Tourmaline Oil's stock was trading at C$68.32 at the beginning of the year. 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. It's certainly positive to see the recent insider purchases. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. Earlier in the year, they paid CA$18.70 per share in a CA$371k purchase. articles a month for anyone to read, even non-subscribers! 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. As such, the business plan remains strong from a strategic and tactical perspective.. What Stock Would You Invest $5,000 in Right Now? Corporate Secretary and Associate General Counsel. Mike Rose started Tourmaline Oil Corp., now Canada's third-largest natural gas producer, by scooping up land the last time energy companies were in a slump. It's common to see an oil company of its size carry billions in debt on the balance sheet in this capital-intensive industry. However, the company issued a $2/share special dividend earlier this year, and it's highly likely the company issues another special dividend again this year, based on its past track record. 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. Several members of the leadership team have been with Rose at all three companies. "s": "USOIL", Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. 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. 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. However, it only increased shareholding by a small percentage, and it wasn't a huge purchase by absolute value, either. You have already added five stocks to your watchlist. Join thousands of other investors who make better investing decisions with our premium tools. Although it's not the only criteria to consider when evaluating a company, tracking and analyzing insider activity has proven valuable. According to the International Energy Agency's (IEA), Finally, remember that the U.S. has stated it intends to refill the. }, Out of 13 analysts who track the stock, 1 has a strong buy, 11 with a buy and only one hold, according to Yahoo Finance, with an average analyst price target of $42.08 per share. When you subscribe today, you'll gain immediate access to my top picks, personal portfolio insights, and in-depth analysis of over 140 stocks. Prior thereto, he was the Secretary and General Counsel of Tourmaline Oil Corp. since 2008. There are 7 older and 4 younger executives at Tourmaline Oil. Overnight on Wall Street is morning in Europe. The company employs 322 workers across the globe. Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. Monitor your investments 24 hours a day, around the clock from around the globe. 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. That means they have been optimistic about the company in the past, though they may have changed their mind. 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%). He launched Berkley Petroleum Corp. in 1993 and sold it in early 2001 to Anadarko. which phrase signals a contrast between ideals about marriage 304-539-8172; one level homes in clemmons, nc casadeglo3@gmail.com Prior thereto, he wasVice President, Land and Contractsat Berkley Petroleum Corp. until it was acquired in 2001. Access articles from across Canada with one account. Upgrade to MarketBeat All Access to add more stocks to your watchlist. That includes its regular quarterly dividend and a special dividend. He is also Member of Canadian Society of Petroleum . China's Services Activity Surges to More Than Two-Year High. A welcome email is on its way. June 14, 2022; utpal parrikar education . There are currently 6 buy ratings and 1 strong buy rating for the stock. Insider buying: Four separate insiders have purchased C$283,312 worth of stock over the past 12 months, according to MarketBeat. 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. "colorTheme": "light", Without further ado, here are three oil & gas stocks that have recently experienced recent insider buying. Energy Transfer is currently paying out $1.23 annualized (back to its payout levels before the pandemic hit), after its recent distribution increase. }, 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.. Vice President, Finance & Chief Financial Officer. Mr. Kirker has practiced law for more than 30 years in various capacities. Tourmaline and Topaz are the third and fourth oil and gas companies that Rose has built into billion-dollar enterprises. Tourmaline Oil (TSE:TOU) has a market capitalization of C$20.63 billion and generates C$7.10 billion in revenue each year. { 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. Photo by Gavin Young/Postmedia files. 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.. If you don't see it, please check your junk folder. Mr. Rose said an $8-million investment in the project has already saved Tourmaline more than $25-million in fuel costs. 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. Currently, 80% of the company's production comes from natural gas, and it also claims to have the lowest capital costs in the Alberta Deep Basin. But over a five-year period, the stock has only edged up 0.15 per cent. The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 3rd 2023. If you are a Home delivery print subscriber, unlimited online access is. Mr. Tumbach holds a Bachelor of Commerce degree from the University of Calgary and isa Member of the Canadian Association of Petroleum Landmen. VP of Fin., CFO & Non-Independent Director. How were Tourmaline Oil's earnings last quarter? Bottom line: Tourmaline is one of the lowest-risk energy stocks I've analyzed. 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. I have no business relationship with any company whose stock is mentioned in this article. It also carries a book value per share of $5.56, higher than its current stock price. I wrote this article myself, and it expresses my own opinions. What is Tourmaline Oil's stock price today? View the best growth stocks for 2023 here. The special dividends have netted Rose almost C$45 million this year. Tourmaline has also hiked its regular quarterly dividend by 41% over the last 12 months. 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. contact@marketbeat.com Prior to joining Tourmaline, Mr. McKinnon held both engineering and operational roles at Shell Canada Ltd. Mr. McKinnon holds a Bachelor of Science in petroleum engineering from Montana Tech at the University of Montana. Its earnings are supported by its "fee-based" contracts it has signed with its clients. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. The company's average rating score is 3.14, and is based on 6 buy ratings, no hold ratings, and no sell ratings. { The company earns C$4.49 billion in net income (profit) each year or C$13.10 on an earnings per share basis. Prior to March 2013, he served as Completions and Operations Engineering Manager of Tourmaline since 2009. 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 thereto, he was Completions Manager at Tourmaline since May 2013. That means. To help with this, we've discovered 5 warning signs (1 doesn't sit too well with us!) The company was incorporated in 2008 and is headquartered in Calgary, Canada. This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders. 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. "belowLineFillColorFalling": "rgba(41, 98, 255, 0.12)", Distribution: One of the key reasons to invest in its stock is for its distribution. In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. 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. That'll likely change following closure of the Ranger Oil transaction, but it's something to consider when evaluating your current investment options. But Tourmaline ended 2022 with just $494 million in debt. Concerned about the content? There are plenty of other companies that have insiders buying up shares. According to analysts' consensus price target of C$84.44, Tourmaline Oil has a forecasted upside of 38.7% from its current price of C$60.87. 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. 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$662 million since the beginning of this year. Insiders have been buying shares at three oil & gas companies lately. "locale": "en", { The dividend payout ratio of Tourmaline Oil is 7.63%. Recently, he sat down with Tim Egan, CEO of the Canadian Gas Association, to discuss Tourmaline's past, present and future, Canada's road to net zero, and how to navigate that path. Get exclusive access to the National Post ePaper, an electronic replica of the print edition that you can share, download and comment on. What is the dividend yield for Tourmaline Oil? This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Tourmaline Oil Corp. has a . Receive TOU Stock News and Ratings via Email. Tourmaline Oil insiders may have bought shares in the last year, but they didn't sell any. Tourmaline Oil has a PEG Ratio of 1.72. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Should You Be Too? Michael Rose, CEO of Tourmaline OIl Corp. , which the company says essentially offsets its estimated, Enbridge beats profit estimates as oil volumes rebound, LNG Canada project threatened amid cost dispute over Coastal GasLink pipeline, Cenovus Energy posts 2% rise in quarterly profit, exposure, CIBC Capital Market analysts say, billion of free cash flow in 2022 and US$, are lower commodity prices and rising industry costs, tap here to see other videos from our team. 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. Results for {phrase} ({results_count} of {results_count_total}), Displaying {results_count} results of {results_count_total}. 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. But the company does carry quite a bit of debt. To see all exchange delays and terms of use please see Barchart's disclaimer. We apologize, but this video has failed to load. Comments may take up to an hour for moderation before appearing on the site. The future doesn't just happen, we. US Property Taxes Rose Twice as Fast Last Year Than in 2021. . Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. "showSymbolLogo": true, On average, they expect the company's stock price to reach C$84.44 in the next twelve months. 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. Tourmaline is part of the Electricity, Oil & Gas industry, and located in Canada. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. 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. . Overnight on Wall Street is morning in Europe. View which stocks are hot on social media with MarketBeat's trending stocks report. Mr. Robinson is a director and the Vice President, Finance and Chief Financial Officer of Tourmaline. 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. 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. Michael Rose Net Worth Michael Rose biography. 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 Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (Duvernay), a publicly traded oil and gas company (2004-2008). Shares of TOU stock and other Canadian stocks can be purchased through an online brokerage account. First Republic Talks Extend Into Night After Banks Place Bids, Warren Buffett Will Beat the Market in Recession Times, Investors Say, Jerome Powell Could Face More Opposition as Fed Choices Get Tougher, Munger Warns Banks Stuck with Commercial Property Debt, FT Says, Your Sunday US Briefing: Pressure Mounts on First Republic. As the Director of Paramount Resources, the total compensation of Susan Rose at Paramount Resources is CAD$70,000. Most recently, Kendall Douglas Arthur, Senior Officer, bought 10,000 shares at C$5.50 (US$4.08) on March 7. (844) 978-6257. The company can be reached via phone at +1-403-7673587. list of interesting companies, that have HIGH return on equity and low debt. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Unauthorized distribution, transmission or republication strictly prohibited. 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. PEG Ratios above 1 indicate that a company could be overvalued. 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. "d": "WTI Crude" "s": "TVC:USOIL+NYMEX:ICL1! Sign-up to receive the latest news and ratings for Tourmaline Oil and its competitors with MarketBeat's FREE daily newsletter. A few of the highlights, Q2. 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 C$5.9 billion in 2008. EnergyNow is an online energy news and data media service dedicated to providing essential up to-date information on the Canadian oil & gas industry. { Prior to Pembina, Ms. Beck worked in private practice as a securities lawyer at Stikeman Elliott LLP in London, UK and at Blake, Cassels and Graydon LLP in Calgary. Balance sheet strength: Tourmaline has one of the strongest financial positions of any oil & gas stock I've evaluated. Rose also purchased. Prior thereto, he was the Vice President, Land and Contractsof Duvernay Oil Corp. until its acquisition in 2008 for $5.9 billion. Mr. Mike Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008.
