We aim to bring you long-term focused analysis driven by fundamental data. Results for {phrase} ({results_count} of {results_count_total}), Displaying {results_count} results of {results_count_total}. Access articles from across Canada with one account. 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. Last updated: 1 April 2023 at 11:00am EST. Get in touch with us directly. 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. { 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. Michael L. Rose serves as Chairman of the Board, President, Chief Executive Officer, . News; Video; 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. Tourmaline Oil is Canada's largest natural gas producer, and a leader in employing technology and innovation to produce ever cleaner natural gas. CIBC Capital Market has a $47.50 price target for the stock with an outperform rating. { 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. 7 brokers have issued twelve-month target prices for Tourmaline Oil's shares. 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. View TOU analyst ratings or view top-rated stocks. 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. The company employs 322 workers across the globe. 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. One share of TOU stock can currently be purchased for approximately C$60.87. ], Tourmaline is Canada's largest natural gas producer and its fourth-largest gas processing midstream operator. I discuss oil prices and analyze 3 companies with recent insider buying. VP of Fin., CFO & Non-Independent Director. 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. Tourmaline Enters Long-Term LNG Export Marketing Arrangement With There are 1 executives at Tourmaline Oil getting paid more, with Michael L. Rose having the highest compensation of $3,483,282. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. Tourmaline Oil had a trailing twelve-month return on equity of 35.48% and a net margin of 63.21%. Prior thereto, he wasVice President, Land and Contractsat Berkley Petroleum Corp. until it was acquired in 2001. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. 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. 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. Tourmaline Oil CEO Michael Rose on his energy company's outlook Tourmaline has also hiked its regular quarterly dividend by 41 per cent over the last 12 months. Among other awards, Mr. Rose is the recipient of the Stanley Slipper Gold Medal from the Canadian Society of Petroleum Geologists (2009). 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. When is Tourmaline Oil's next earnings date? There are 1 executives at Tourmaline Oil getting paid more, . Tourmaline Oil does not have a long track record of dividend growth. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. What is Tourmaline Oil's stock price today? As such, the business plan remains strong from a strategic and tactical perspective.. Prior thereto, he served as Vice President, Production of Tourmaline since March 2013. Directors | Tourmaline Oil Tourmaline Oil (TSE:TOU) pays an annual dividend of C$1.00 per share and currently has a dividend yield of 1.64%. 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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. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. ("Duvernay"), a publicly traded oil and gas company (2004-2008). That gives the company enormous financial flexibility - it can ramp up its shareholder returns via increased dividends and buybacks, or use its firepower to complete accretive deals, should it desire to, for example. Ms. Beck holds a Bachelor of Arts (Economics) degree from the University of British Columbia and a Bachelor of Laws degree from Dalhousie University. While there are numerous reasons for insiders to sell company shares, there is typically only one reason they buy. There are 1 executives at Tourmaline Oil getting paid more, with Michael L. Rose having the highest compensation of $3,483,282. Don't miss this opportunity to take control of your investment strategy and grow your wealth subscribe now! And thanks everybody who's on the line. The company was incorporated in 2008 and is headquartered in Calgary, Canada. All Rights Reserved. "locale": "en", 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. Chris Bolin/The Globe and Mail 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. 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). Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. 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. Tourmaline made some exciting announcements last week. (Natural) gas demand just keeps building, Rose said. Most recently, Kendall Douglas Arthur, Senior Officer, bought 10,000 shares at C$5.50 (US$4.08) on March 7. 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. Get short term trading ideas from the MarketBeat Idea Engine. 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. "plotLineColorFalling": "rgba(41, 98, 255, 1)", Ms. Tait has been the Controller of Tourmaline Oil Corp. since September 2015 and was the Manager of Finance prior thereto. 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. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. That means. It owns a diverse portfolio of assets, including pipelines and storage facilities. ", Michael Rose is 62, he's been the Chairman of the Board, President, Chief Executive Officer, and Director of Tourmaline Oil since 2008. Please be aware of the risks associated with these stocks. Second, expect a big oil deficit in H2 2023. 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. 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. Tourmaline Oil's stock was trading at C$68.32 at the beginning of the year. Should I buy or sell Tourmaline Oil stock right now? "belowLineFillColorGrowing": "rgba(41, 98, 255, 0.12)", "plotLineColorGrowing": "rgba(15, 164, 207, 1)", Although it's not the only criteria to consider when evaluating a company, tracking and analyzing insider activity has proven valuable. Natural gas stations coming soon to Canada | Financial Post Mike Rowe has a net worth of $30 million in 2023. mike rose tourmaline net worth - hazrentalcenter.com He is also Member of Canadian Society of Petroleum . Balance sheet strength: Tourmaline has one of the strongest financial positions of any oil & gas stock I've evaluated. "isTransparent": false, Mr. Frostad has served as the Vice President, Exploration of Tourmaline Oil Corp. since November 2019. Many might not know this, but this man is also a professional voice-over artist. I am not receiving compensation for it (other than from Seeking Alpha). This article by Simply Wall St is general in nature. } I believe this is a bullish sign for each stock price, for obvious reasons. 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. Odyssey Trust Company1-587-885-0960 (within Canada)1-888-290-1175 (Toll Free). that you ought to be aware of before buying any shares in Tourmaline Oil. All rights reserved. The company can be reached via phone at +1-403-7673587. Company News. Please. Share your thoughts and join the conversation in the comments. Alternatively, email editorial-team (at) simplywallst.com. 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. China's Services Activity Surges to More Than Two-Year High. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). This payout ratio is at a healthy, sustainable level, below 75%. { Biography of Michael Rose. 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. articles a month for anyone to read, even non-subscribers! According to the International Energy Agency's (IEA), Finally, remember that the U.S. has stated it intends to refill the. "showChart": true, 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. Wallmine is a radically better financial terminal. He launched Berkley Petroleum Corp. in 1993 and sold it in early 2001 to Anadarko. See what's happening in the market right now with MarketBeat's real-time news feed. Please try again. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. I have no business relationship with any company whose stock is mentioned in this article. 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. 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. The company was incorporated in 2008 and is headquartered in Calgary, Canada. I am here with Mike Rose, Tourmaline's President and Chief Executive Officer; Brian Robinson, Vice President, Finance and Chief Financial Officer; and Jamie Heard, our Manager of Capital. Tourmaline surge propels Mike Rose's stake past $1B { 326 E 8th St #105, Sioux Falls, SD 57103 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. This idea was discussed in more depth with members of my private investing community, The Gold Bull Portfolio. Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. He started Duvernay Oil Corp. shortly thereafter, eventually selling it to Shell for $5.9 billion in 2008. 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. Prior thereto, he was the Vice President, Land and Contractsof Duvernay Oil Corp. until its acquisition in 2008 for $5.9 billion. What you need to know, David Rosenberg: Which assets have priced in a recession and which ones haven't. Tourmaline Oil has a P/B Ratio of 1.51. //= $_COOKIE['currency'] == 'USD' ? Insiders have been buying shares at three oil & gas companies lately. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. Investors who can stomach the short-term volatility and the possibility of lower oil & gas prices this quarter should benefit greatly later on. 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. However, oil prices have since declined, nearly erasing the gains from OPEC's decision. Most recently, Kelcy Warren, Chairman, bought 1.33 million shares at an average price of $12.99 on Feb. 22, according to MarketBeat. Join thousands of other investors who make better investing decisions with our premium tools. 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. Prior to joining Tourmaline, Ms. Aspin was a member of the Marketing team at Duvernay Oil Corp. from 2004 until its acquisition in 2008. Photo by Gavin Young/Postmedia files. Tourmaline Oil pays a meaningful dividend of 1.64%, higher than the bottom 25% of all stocks that pay dividends. Michael Rose, CEO of Tourmaline OIl Corp. Photo by Jim Wells/Postmedia. After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008. Prior to joining Tourmaline, Ms. Beck worked in legal and business development roles at Pembina Pipeline Corporation. 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. Entering text into the input field will update the search result below. 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. 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). 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? Overnight on Wall Street is morning in Europe. Among other awards, Mr. Rose is the recipient of the Stanley Slipper Gold Medal from the Canadian Society of Petroleum Geologists (2009). 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. Last year, the company, led by Michael Rose, made four acquisitions valued at a total of $795 million. Please disable your ad-blocker and refresh. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. Should You Be Too? Tourmaline Surge Propels Mike Rose's Stake Past C$1 Billion High institutional ownership can be a signal of strong market trust in this company. On April 17, Janet Weiss, Director, bought 350 shares at C$45.58. 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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. 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. Looking for buying opportunities? Tourmaline continues buying spree in Montney with $750-million deal for Its shares now yield 9.78%, as of writing. Tourmaline's management has guided for 2023 production of 520,000 - 540,000 barrels of oil equivalent per day ("BOE/D"). Tourmaline has also hiked its regular quarterly dividend by 41% over the last 12 months. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Mr. After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008 for $5.9 billion. Oil prices surged to $80/barrel earlier this month following OPEC's unexpected production cuts. The future doesn't just happen, we. "d": "WTI Crude" That's what I like to see! Insider buying: Four separate insiders have purchased C$283,312 worth of stock over the past 12 months, according to MarketBeat. Michael L. Rose serves as Chairman of the Board, President, Chief Executive Officer, Director of the Company. 57.64% of the stock of Tourmaline Oil is held by institutions. American Consumer News, LLC dba MarketBeat 2010-2023. Mr. Rose said an $8-million investment in the project has already saved Tourmaline more than $25-million in fuel costs. Tourmaline Oil trades on the Toronto Stock Exchange (TSX) under the ticker symbol "TOU.". 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. But the company does carry quite a bit of debt. Michael Rose, president and CEO of Tourmaline Oil, . The oldest executive at Tourmaline Oil Corp. is JohnElick, 77, who is the Independent Director. Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary 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). Canadian Natural Gas Has Gone Global: An Interview with Mike Rose from 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 . It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. 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. Markets never sleep, and neither does Bloomberg News. Tourmaline Oil insiders may have bought shares in the last year, but they didn't sell any. Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. Perpetual Energy's chief executive officer was Susan Riddell Rose, Michael Rose's wife. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Mr. Bush is the Chief Operating Officer of Tourmaline Oil Corp., a position he has held since April 2014. 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. 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. 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. Tourmaline Oil insiders own about CA$497m worth of shares (which is 7.0% of the company). The company currently estimates the move will be 20% accretive to its free cash flow per share, for example. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. We believe the recent pause in the shares represents an opportunity as we move into the fall of 2021. Only 5.47% of the stock of Tourmaline Oil is held by insiders. TSE:TOU opened at C$56.23 on Wednesday. First, investors should note that the OPEC cuts have not yet taken effect (they begin in May). 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's certainly positive to see the recent insider purchases. The company earned $2.18 billion during the quarter. Prior thereto, he was the Secretary and General Counsel of Tourmaline Oil Corp. since 2008. 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. Distribution: One of the key reasons to invest in its stock is for its distribution. There are plenty of other companies that have insiders buying up shares. 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. "s": "USOIL", 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. Tourmaline Oil has a PEG Ratio of 1.72. "originalTitle": "Commodities" 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. "showSymbolLogo": true, The special dividends have netted Rose almost $45 million this year. The following June, Tourmaline purchased Mapan Energy for CAN$106 million in stock. "s": "TVC:USOIL+NYMEX:WCW1! 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions.