And the longer term insider transactions also give us confidence. 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. Market Data powered by QuoteMedia. 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. 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. Mike Rose Thanks Jamie. 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. After Bank Turmoil, Says RBA. 2021 average. Rose also purchased. 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 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. "As technology evolves, we're doing things we've never been able to do. Michael L. Rose serves as Chairman of the Board, President, Chief Executive Officer, . Among other awards, Mr. Rose is the recipient of the Stanley Slipper Gold Medal from the Canadian Society of Petroleum Geologists (2009). Tourmaline Oil had a trailing twelve-month return on equity of 35.48% and a net margin of 63.21%. "s": "OANDA:NATGASUSD", 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.. Mike Rowe has a net worth of $30 million in 2023. Odyssey Trust Company1-587-885-0960 (within Canada)1-888-290-1175 (Toll Free). If someone buys shares at well below current prices, it's a good sign on balance, but keep in mind they may no longer see value. "s": "TVC:USOIL+NYMEX:ICL1! EnergyNow is an online energy news and data media service dedicated to providing essential up to-date information on the Canadian oil & gas industry. Please try again. Mr. 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. High institutional ownership can be a signal of strong market trust in this company. mike rose tourmaline net worth. Tourmaline and Topaz are the third and fourth oil and gas companies that Rose has built into billion-dollar enterprises. Ms. Aspin holds a Bachelor of Commerce degree from the University of Saskatchewan. 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. Tourmaline Oil (TSE:TOU) has a market capitalization of C$20.63 billion and generates C$7.10 billion in revenue each year. There are plenty of other companies that have insiders buying up shares. This idea was discussed in more depth with members of my private investing community, The Gold Bull Portfolio. If you want to know exactly who sold, for how much, and when, simply click on the graph below! The consensus among Wall Street research analysts is that investors should "buy" TOU shares. "d": "CDN Light Sweet" Mr. Robinson holds a Bachelor of Commerce degree from the University of Calgary and is a Chartered Accountant. { He is also Member of Canadian Society of Petroleum . Get email updates from your favourite authors. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. The company employs 322 workers across the globe. Billionaire Tom Steyer Plans Net Zero Apartment Upgrades Across US. 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. Please be aware of the risks associated with these stocks. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. With Fed Decision Looming, Economy and Markets Wait Google Stock Concerned About AI? Our Posthaste newsletter has all the breaking business news and market signals you need, Our Posthaste newsletter has all the breaking business news you need, My precious: Meet the Canadian natural gas producer that analysts are calling the 'best-in-breed', '50% correction': Why Canada's office real estate sector is heading for a reckoning, How the CRA strike will affect your tax returns, refunds, benefits and more, Quebec faces big electricity shortfall after wooing U.S. to buy cheap hydro power, Why is remote work a major sticking point in PSAC negotiations? You have already added five stocks to your watchlist. The ex-dividend date of this dividend is Tuesday, March 14th. "belowLineFillColorFallingBottom": "rgba(41, 98, 255, 0)", The dividend payout ratio is 7.63%. Baytex's vision is to grow into a top-tier North American oil producer focused on per share value creation, according to the company. Here's a summary of insider transactions this year: On April 17, Janet Weiss, Director, bought 350 shares at C$45.58. Mr. Mike Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. But the company does carry quite a bit of debt. One share of TOU stock can currently be purchased for approximately C$60.87. Mr. The company earned $2.18 billion during the quarter. Concerned about the content? It also carries a book value per share of $5.56, higher than its current stock price. There are currently 6 buy ratings and 1 strong buy rating for the stock. 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. There are 7 older and 4 younger executives at Tourmaline Oil. 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. I have no business relationship with any company whose stock is mentioned in this article. Tourmaline has also hiked its regular quarterly dividend by 41% over the last 12 months. CIBC Capital Market has a $47.50 price target for the stock with an outperform rating. list of growing companies that insiders are buying. 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 aim to bring you long-term focused analysis driven by fundamental data. What is Tourmaline Oil's stock price today? 326 E 8th St #105, Sioux Falls, SD 57103 contact@marketbeat.com Valuation: Like Tourmaline, Baytex shares look like a bargain here. Most recently, Kendall Douglas Arthur, Senior Officer, bought 10,000 shares at C$5.50 (US$4.08) on March 7. 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. }, ", We start this journey in 1998 with England vs. Argentina, the game that had everything. Insiders have purchased 14.86 million shares. 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. It used its cash flow to focus on reducing its net debt (30% reduction last year, to $987 million) and reward shareholders with an aggressive share buyback (24.3 million shares, of 4.3% of shares outstanding, were repurchased in 2022). "tabs": [ I discuss oil prices and analyze 3 companies with recent insider buying. Prior to joining Tourmaline, Ms. Aspin was a member of the Marketing team at Duvernay Oil Corp. from 2004 until its acquisition in 2008. In many cases, I've found that insiders have (mostly) timed their purchases wisely. Michael Rose, president and CEO of Tourmaline Oil, spoke with Weekly host Andrew McCreath about his companys outlook on pricing, revenue and cash flow. 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. 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. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. 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. View which stocks are hot on social media with MarketBeat's trending stocks report. 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. Stockholders of record on Wednesday, March 15th will be given a dividend of 0.25 per share on Friday, March 31st. This article by Simply Wall St is general in nature. There are 1 executives at Tourmaline Oil getting paid more, with Michael L. Rose having the highest compensation of $3,483,282. 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. 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%). It also carries a book value per share of over $40, just shy of its current share price. First, they announced a partnership on a compressed natural gas (CNG) fueling station network across Western Canada to enable heavy-haul trucks to get off diesel. }. The official website for the company is www.tourmalineoil.com. 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.. 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. The company earns C$4.49 billion in net income (profit) each year or C$13.10 on an earnings per share basis. Mr. Tourmaline Oil declared a quarterly dividend on Wednesday, March 1st. "symbols": [ We currently account for open market transactions and private dispositions, but not derivative transactions. Prior thereto, he wasVice President, Land and Contractsat Berkley Petroleum Corp. until it was acquired in 2001. Support local journalists and the next generation of journalists. "width": "100%", First, investors should note that the OPEC cuts have not yet taken effect (they begin in May). We believe the recent pause in the shares represents an opportunity as we move into the fall of 2021. Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. Tourmaline's management has guided for 2023 production of 520,000 - 540,000 barrels of oil equivalent per day ("BOE/D"). Please log in to your account or sign up in order to add this asset to your watchlist. Mathematician and author Hannah Fry investigates patterns in human behavior, AI and the creative ideas behind the organizations and pioneers transforming society. Balance sheet strength: Tourmaline has one of the strongest financial positions of any oil & gas stock I've evaluated. Tourmaline Oil has only been the subject of 2 research reports in the past 90 days. Popular online brokerages with access to the Canadian stock market include BMO InvestorLine, CIBC Investor's Edge, Desjardins Online Brokerage, HSBC InvestDirect, Laurentian Bank Discount Brokerage, National Bank Direct Brokerage, Qtrade Investor, Questrade, RBC Direct Investing, Scotia iTrade, TD Direct Investing, and Virtual Brokers.Compare Top Brokerages Here. It's common to see an oil company of its size carry billions in debt on the balance sheet in this capital-intensive industry. It owns a diverse portfolio of assets, including pipelines and storage facilities. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. "originalTitle": "Commodities" Ms. Aspin joined Tourmaline Oil Corp. in 2009 and was appointed Vice President, Marketing in September 2017. "belowLineFillColorFalling": "rgba(41, 98, 255, 0.12)", Entering text into the input field will update the search result below. Seven years on, he's at it again.. Ms. Beck has been the Corporate Secretary of Tourmaline Oil Corp. since March 2021 and the Associate General Counsel of the Company since 2017. How were Tourmaline Oil's earnings last quarter? Tourmaline has also hiked its regular quarterly dividend by 41 per cent over the last 12 months. Share your thoughts and join the conversation in the 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. This advertisement has not loaded yet, but your article continues below. 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 billion from $662 million since the beginning of this year. 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 for $5.9 billion. Should You Be Too? 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. There are 1 executives at Tourmaline Oil getting paid more, . Prior to joining Cinch, Ms. Tait was an audit manager at Ernst & Young Chartered Accountants. Tourmaline, led by chief executive officer Mike Rose, is buying Black Swan Ltd. for about $750-million in stock. there have been sell-offs in oil & gas stocks in the first place. "plotLineColorFalling": "rgba(41, 98, 255, 1)", Tourmaline Oil Corp. has a . "showFloatingTooltip": true, Michael Rose, president and CEO of Tourmaline Oil, . 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. That means they have been optimistic about the company in the past, though they may have changed their mind. Oil's short-term outlook remains uncertain for these reasons. To see all exchange delays and terms of use please see Barchart's disclaimer. 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. The special dividends have netted Rose almost C$45 million this year. "belowLineFillColorGrowingBottom": "rgba(41, 98, 255, 0)", 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. 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. Our 2020 Tourmaline aggregate dividend of $130 million and our net Topaz aggregate dividend of $17 million will be paid from our estimated 2020 free cash flow of $173 million. 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. 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. I detail the insider transactions, provide an overview of each company and its valuation, and offer a bottom line for investors. 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. I am not receiving compensation for it (other than from Seeking Alpha). Tourmaline, named after the semi-precious stone, has also struck a long-term agreement with Cheniere Energy Inc., one of the largest liquefied natural gas producers in the U.S., to supply 140,000 mmbtu per day of natural gas to the companys Corpus Christi liquefaction terminal in Texas for a 15-year term starting 2023. Insiders have been buying shares at three oil & gas companies lately. Tourmaline and Topaz are the third and fourth oil and gas companies that Rose has built into billion-dollar enterprises. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Tourmaline Oil does not have a long track record of dividend growth. Michael Rose has been working as a Chairman, President & Chief Executive Officer at Tourmaline for 21 years. Tourmaline Oil Trading Up 1.9 %. 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. Energy Transfer is definitely a lower-risk bet in the oil & gas sector due to these fee-based contracts, as its earnings are not as affected by commodity price fluctuations. Tourmaline Location 250-6th Ave SW Ste 2900, Calgary, Alberta, T2P 3H7, Canada Description Industry Electricity, Oil & Gas Energy, Utilities & Waste Treatment { Enjoy insights and behind-the-scenes analysis from our award-winning journalists. 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.. Since then, TOU shares have decreased by 10.9% and is now trading at C$60.87. All Rights Reserved. The company can be reached via phone at +1-403-7673587. Prior thereto, he was Completions Manager at Tourmaline since May 2013. The following June, Tourmaline purchased Mapan Energy for CAN$106 million in stock. What Stock Would You Invest $5,000 in Right Now? Our daily ratings and market update email newsletter. Watch: Tourmaline Oil CEO Michael Rose on building CNG stations with Clean Energy Fuels in Western Canada. 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). News; Video; Mr. Rose said an $8-million investment in the project has already saved Tourmaline more than $25-million in fuel costs. 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. Real-time analyst ratings, insider transactions, earnings data, and more. 7 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Tourmaline Oil in the last twelve months. }, On March 7 and 13, Mike Rose, Senior Officer, bought a combined 10,000 shares at C$55.70 and C$58.77. 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. This week Michael (Mike) Rose, Chairman, President, and Chief Executive Officer of Tourmaline joins us as our guest. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Tourmaline Oil insiders may have bought shares in the last year, but they didn't sell any. 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. Comments may take up to an hour for moderation before appearing on the site. 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. { "showChart": true, But over a five-year period, the stock has only edged up 0.15 per cent. But Tourmaline ended 2022 with just $494 million in debt. 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. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). We provide live feeds designed to help energy professionals, field personnel, business owners, and senior business leaders get the latest energy news and data, energy industry press releases and energy job and event listings. Sign-up to receive the latest news and ratings for Tourmaline Oil and its competitors with MarketBeat's FREE daily newsletter. 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). In this case we're pleased to report that the insider purchases were made at close to current prices. Energy Transfer Partners is one North America's largest midstream energy companies, with approximately 120,000 miles of pipelines and energy infrastructure assets located across 41 states. How many employees does Tourmaline Oil have? The combined co. will command a higher market cap ($5 billion), stronger production, more liquidity, and a greater ability to return capital to shareholders. There are 14 executives at Paramount Resources getting paid more, with James Riddell having the highest compensation of $1,815,460. Tourmaline is Canada's largest natural gas producer and its fourth-largest gas processing midstream operator. That includes its regular quarterly dividend and a special dividend. The company has a fifty day moving average of C$60.92 and a 200 day moving average of C$70.22. With its low-cost structure and diversified marketing exposure, analysts say Tourmaline is well-positioned to generate superior returns.