Mr. Frostad holds a Master of Science (Geology) and Bachelor of Science (Geology) from the University of Calgary. Mr. Rose is a member of the Association of Professional Engineers and Geoscientists of Alberta and the Canadian Society of Petroleum Geologists. 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. "symbols": [ 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. that you ought to be aware of before buying any shares in Tourmaline Oil. 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. I have no business relationship with any company whose stock is mentioned in this article. [Gas in Transition, Volume 2, Issue 5] Tourmaline Oil Corp (TRMLF) CEO Mike Rose on Q2 2020 Results - SeekingAlpha No recommendation or advice is being given as to whether any investment is suitable for a particular investor. High institutional ownership can be a signal of strong market trust in this company. The combined co. will command a higher market cap ($5 billion), stronger production, more liquidity, and a greater ability to return capital to shareholders. Michael L. Rose serves as Chairman of the Board, President, Chief Executive Officer, . 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. Tourmaline Surge Propels Mike Rose's Stake Past C$1 Billion The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 3rd 2023. articles a month for anyone to read, even non-subscribers! 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. Sign-up to receive the latest news and ratings for Tourmaline Oil and its competitors with MarketBeat's FREE daily newsletter. Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. PEG Ratios above 1 indicate that a company could be overvalued. 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. I wrote this article myself, and it expresses my own opinions. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). Mathematician and author Hannah Fry investigates patterns in human behavior, AI and the creative ideas behind the organizations and pioneers transforming society. Tourmaline Oil Corp. (TRMLF) CEO Michael Rose on Q4 2021 Results Risks to consider: Energy Transfer has stable, consistent cash flow and earnings from its largely fee-based contracts. The company's average rating score is 3.14, and is based on 6 buy ratings, no hold ratings, and no sell ratings. If you don't see it, please check your junk folder. 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. Even after reducing debt by $800 million last year, it has total long-term debt of $48.2 billion. Seven years on, he's at it again.. "isTransparent": false, 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. 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. Ms. Tait has been the Controller of Tourmaline Oil Corp. since September 2015 and was the Manager of Finance prior thereto. Tourmaline Oil has a PEG Ratio of 1.72. 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. Oil prices surged to $80/barrel earlier this month following OPEC's unexpected production cuts. Please try again. It also carries a book value per share of over $40, just shy of its current share price. 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. Mr. Frostad has served as the Vice President, Exploration of Tourmaline Oil Corp. since November 2019. { Second, expect a big oil deficit in H2 2023. Odyssey Trust Company1-587-885-0960 (within Canada)1-888-290-1175 (Toll Free). Since then, TOU shares have decreased by 10.9% and is now trading at C$60.87. According to the International Energy Agency's (IEA), Finally, remember that the U.S. has stated it intends to refill the. In fact, the recent purchase by Chairman of the Board Michael Rose was not their only acquisition of Tourmaline Oil shares this year. "gridLineColor": "rgba(42, 46, 57, 0)", 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. Michael Rose Net Worth Michael Rose biography. You have already added five stocks to your watchlist. Canada Energy Assembly and Dinner 2022 Lifetime Achievement Award: Mike Tourmaline Oil has only been the subject of 2 research reports in the past 90 days. 911 lone star season 1 episode 1 watch online. Insiders have been buying shares at three oil & gas companies lately. 57.64% of the stock of Tourmaline Oil is held by institutions. Mr. Rose was educated at Queen's University, graduating with an honours degree in Geology. 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. My precious: Meet the Canadian natural gas producer that analysts are That includes its regular quarterly dividend and a special dividend. Identify stocks that meet your criteria using seven unique stock screeners. 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. What is Tourmaline Oil's stock price forecast for 2023? On average, they expect the company's stock price to reach C$84.44 in the next twelve months. 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. I am not receiving compensation for it (other than from Seeking Alpha). 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. Why Tourmaline Oil Stock Just Fell to 52-week Lows? 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 pays a meaningful dividend of 1.64%, higher than the bottom 25% of all stocks that pay dividends. 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. Mr. McKinnon has served as the Vice President, Operations of Tourmaline Oil Corp. since May 2015. There are 1 executives at Tourmaline Oil getting paid more, with Michael L. Rose having the highest compensation of $3,483,282. 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. 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. Without further ado, here are three oil & gas stocks that have recently experienced recent insider buying. In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. For example, the company is not taxed at the corporate level as it's considered a pass-through entity, and unitholders report their share of the company's income and expenses on their personal tax returns (using form K1's). Tourmaline's management has guided for 2023 production of 520,000 - 540,000 barrels of oil equivalent per day ("BOE/D"). It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. 7 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Tourmaline Oil in the last twelve months. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. "showSymbolLogo": true, Bottom line: Tourmaline is one of the lowest-risk energy stocks I've analyzed. 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.. 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). ] Earlier in the year, they paid CA$18.70 per share in a CA$371k purchase. Michael Rose Net Worth (2023) | wallmine 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. Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. mike rose tourmaline net worth - goldstockcanada.com The next issue of FP Investor will soon be in your inbox. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. "d": "Brent Crude (UKOIL)" This payout ratio is at a healthy, sustainable level, below 75%. Officers | Tourmaline Oil Photo by Gavin Young/Postmedia files. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. there have been sell-offs in oil & gas stocks in the first place. Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. He is also Member of Canadian Society of Petroleum . But Tourmaline ended 2022 with just $494 million in debt. This payout ratio is at a healthy, sustainable level, below 75%. 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. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Mr. Bush holds aBachelors degree in Mining Engineering from Montana College of Mineral Science and Technology, Butte Montana. 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. 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. Michael Rose Net Worth (2023) | wallmine CA In the past three months, Tourmaline Oil insiders have bought more of their company's stock than they have sold. "d": "CDN Light Sweet" Their TOU share price forecasts range from C$70.00 to C$112.00. Tourmaline still own just over a 50 per cent stake in Topaz. 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. Ms. Beck holds a Bachelor of Arts (Economics) degree from the University of British Columbia and a Bachelor of Laws degree from Dalhousie University. Tourmaline Oil (TSE:TOU) has a market capitalization of C$20.63 billion and generates C$7.10 billion in revenue each year. View our TOU earnings forecast. Real-time analyst ratings, insider transactions, earnings data, and more. Tourmaline, led by chief executive officer Mike Rose, is buying Black Swan Ltd. for about $750-million in stock. 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.. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. ("Duvernay"), a publicly traded oil and gas company (2004-2008). Many might not know this, but this man is also a professional voice-over artist. Create an account or sign in to continue with your reading experience. Alternatively, email editorial-team (at) simplywallst.com. list of interesting companies, that have HIGH return on equity and low debt. It's common to see an oil company of its size carry billions in debt on the balance sheet in this capital-intensive industry. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. 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. This advertisement has not loaded yet, but your article continues below. { 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. Rose also purchased. Access articles from across Canada with one account. Tourmaline continues buying spree in Montney with $750-million deal for Tourmaline and Topaz are the third and fourth oil and gas companies that Rose has built into billion-dollar enterprises. 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. Entering text into the input field will update the search result below. Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders.
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