Tourmaline Oil insiders may have bought shares in the last year, but they didn't sell any. Mr. Frostad has served as the Vice President, Exploration of Tourmaline Oil Corp. since November 2019. The company has a fifty day moving average of C$60.92 and a 200 day moving average of C$70.22. Mr. Rose was educated at Queens University, graduating with an honours degree in Geology. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Check out our latest analysis for Tourmaline Oil. 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. 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. "d": "NYMEX Natural Gas" 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. Rose also purchased. [Gas in Transition, Volume 2, Issue 5] Dividend: One potential downside of owning the stock is the fact that it (currently) does not pay a dividend. Alternatively, email editorial-team (at) simplywallst.com. It said the increase in net earnings. Tourmaline Oil's mailing address is 250 6 Ave SW Suite 3700, CALGARY, AB T2P 3H7, Canada. { Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. . Ms. Aspin holds a Bachelor of Commerce degree from the University of Saskatchewan. To see all exchange delays and terms of use please see Barchart's disclaimer. "symbolActiveColor": "rgba(30, 200, 700, 0.41)", View the best growth stocks for 2023 here. 326 E 8th St #105, Sioux Falls, SD 57103 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. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. Michael Rose, president and CEO of Tourmaline Oil, . Tourmaline still own just over a 50 per cent stake in Topaz. What you need to know, David Rosenberg: Which assets have priced in a recession and which ones haven't. 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. But the company does carry quite a bit of debt. Mr. Bush is the Chief Operating Officer of Tourmaline Oil Corp., a position he has held since April 2014. EnergyNow is an online energy news and data media service dedicated to providing essential up to-date information on the Canadian oil & gas industry. 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. Tourmaline is a Canadian senior oil and natural gascompany focused on long-term growth through anaggressive exploration, development, production and acquisition program in the Western CanadianSedimentary Basin. This distribution looks very sustainable here given that Energy Transfer is producing close to $2 billion in distributable cash flow on a quarterly basis, and is paying out ~$950 million in distributions per quarter to maintain its yield (see its Q4 2022 financial results for more details). Michael Rose, president and CEO of Tourmaline Oil, spoke with Weekly host Andrew McCreath about his company's outlook on pricing, revenue and cash flow. "gridLineColor": "rgba(42, 46, 57, 0)", On January 23 and 25, Jill Angevine, Director, bought 1,120 shares at C$62.63 and C$65.94. That includes its regular quarterly dividend and a special dividend. Mike Rose Thanks Jamie. } Markets never sleep, and neither does Bloomberg News. 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. China's Services Activity Surges to More Than Two-Year High. Tourmaline Oil does not have a long track record of dividend growth. I discuss oil prices and analyze 3 companies with recent insider buying. 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. 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). We currently account for open market transactions and private dispositions, but not derivative transactions. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. "d": "Brent Crude (UKOIL)" 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. 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 earns C$4.49 billion in net income (profit) each year or C$13.10 on an earnings per share basis. //= $_COOKIE['currency'] == 'USD' ? Upgrade to MarketBeat All Access to add more stocks to your watchlist. Prior thereto, he was the Secretary and General Counsel of Tourmaline Oil Corp. since 2008. (Natural) gas demand just keeps building, Rose said. 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. We believe the recent pause in the shares represents an opportunity as we move into the fall of 2021. Please be aware of the risks associated with these stocks. With its low-cost structure and diversified marketing exposure, analysts say Tourmaline is well-positioned to generate superior returns. Tourmaline stock was trading 155 per cent higher to $33.53 per share at the end of last week, compared to the same period last year, and nearly 205 per cent higher compared to March 2020 when oil and gas stock prices began to slide. Prior to March 2013, he served as Completions and Operations Engineering Manager of Tourmaline since 2009. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. The special dividends have netted Rose almost $45 million this year. Receive TOU Stock News and Ratings via Email. My comprehensive understanding of these markets and my ability to identify and capitalize on profitable opportunities have enabled me to consistently deliver strong returns for my subscribers. Here's why Energy Transfer looks like an attractive investment opportunity. The future doesn't just happen, we. 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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. Currently, 5.47% of its stock (18.5 million shares) is owned by insiders, which is the largest insider ownership among senior E&P peers, according to the company. Read more about cookies here. Michael Rose Net Worth Michael Rose biography. Only 5.47% of the stock of Tourmaline Oil is held by insiders. The next issue of FP Investor will soon be in your inbox. 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. 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. And recently, Baytex announced $800 million in unsecured notes, not due until 2030, to fund its merger with Ranger Oil (expected to close in Q2). Insider buying: Four separate insiders have purchased C$283,312 worth of stock over the past 12 months, according to MarketBeat. Ms. Tait has been the Controller of Tourmaline Oil Corp. since September 2015 and was the Manager of Finance prior thereto. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. ", This suggests a possible upside of 38.7% from the stock's current price. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about Tourmaline Oil. 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. Several members of the leadership team have been with Rose at all three companies. The information you requested is not available at this time, please check back again soon. articles a month for anyone to read, even non-subscribers! But Tourmaline ended 2022 with just $494 million in debt. As such, the business plan remains strong from a strategic and tactical perspective.. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. 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. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. 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.). In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. Prior thereto, he was the Vice President, Land and Contractsof Duvernay Oil Corp. until its acquisition in 2008 for $5.9 billion. Story continues below Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. that you ought to be aware of before buying any shares in Tourmaline Oil. Results for {phrase} ({results_count} of {results_count_total}), Displaying {results_count} results of {results_count_total}. The company currently estimates the move will be 20% accretive to its free cash flow per share, for example. After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008. Prior to joining Cinch, Ms. Tait was an audit manager at Ernst & Young Chartered Accountants. TSE:TOU opened at C$56.23 on Wednesday. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Share your thoughts and join the conversation in the comments. The company was incorporated in 2008 and is headquartered in Calgary, Canada. Watch: Tourmaline Oil CEO Michael Rose on building CNG stations with Clean Energy Fuels in Western Canada. Michael L. Rose serves as Chairman of the Board, President, Chief Executive Officer, Director of the Company. Oil prices surged to $80/barrel earlier this month following OPEC's unexpected production cuts. 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. Tourmaline Oil's stock was trading at C$68.32 at the beginning of the year. Subscribe now to read the latest news in your city and across Canada. When is Tourmaline Oil's next earnings date? list of interesting companies, that have HIGH return on equity and low debt. Mr. 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). "s": "TVC:USOIL+NYMEX:WCW1! You probably do not want to miss this free list of growing companies that insiders are buying. Please. Since then, TOU shares have decreased by 10.9% and is now trading at C$60.87. 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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. You have already added five stocks to your watchlist.
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