What is Tourmaline Oil's stock price forecast for 2023? 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. The official website for the company is www.tourmalineoil.com. { 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 is Canada's largest natural gas producer, and a leader in employing technology and innovation to produce ever cleaner natural gas. Mr. Mike Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. And, it expects to end the year with a cash positive position. Tourmaline gained the mineral rights by giving Perpetual Energy about 6.75 million share of Tourmaline stock, worth approximately CAN$256.5 million. There are 14 executives at Paramount Resources getting paid more, with James Riddell having the highest compensation of $1,815,460. 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. Please disable your ad-blocker and refresh. 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. Seven years on, he's at it again.. Photo by Gavin Young/Postmedia files. Get daily stock ideas from top-performing Wall Street analysts. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. 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%). But over a five-year period, the stock has only edged up 0.15 per cent. Michael Rose, president and CEO of Tourmaline Oil, spoke with Weekly host Andrew McCreath about his companys outlook on pricing, revenue and cash flow. On April 17, Janet Weiss, Director, bought 350 shares at C$45.58. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. }, 7 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Tourmaline Oil in the last twelve months. I/we have a beneficial long position in the shares of TRMLF either through stock ownership, options, or other derivatives. But Tourmaline ended 2022 with just $494 million in debt. Michael Rose, CEO of Tourmaline OIl Corp. , which the company says essentially offsets its estimated, Enbridge beats profit estimates as oil volumes rebound, LNG Canada project threatened amid cost dispute over Coastal GasLink pipeline, Cenovus Energy posts 2% rise in quarterly profit, exposure, CIBC Capital Market analysts say, billion of free cash flow in 2022 and US$, are lower commodity prices and rising industry costs, tap here to see other videos from our team. "d": "WCS Heavy" Prior to joining Tourmaline, Ms. Beck worked in legal and business development roles at Pembina Pipeline Corporation. The company employs 322 workers across the globe. 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. But the company does carry quite a bit of debt. 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.. that you ought to be aware of before buying any shares in Tourmaline Oil. Although it's not the only criteria to consider when evaluating a company, tracking and analyzing insider activity has proven valuable. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. Access articles from across Canada with one account. there have been sell-offs in oil & gas stocks in the first place. 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. "s": "TVC:UKOIL", Concerned about the content? Ms. Aspin holds a Bachelor of Commerce degree from the University of Saskatchewan. "tabs": [ The company was incorporated in 2008 and is headquartered in Calgary, Canada. I detail the insider transactions, provide an overview of each company and its valuation, and offer a bottom line for investors. Ms. Tait obtained her Chartered Accountant designation in 2003 and her Bachelor of Commerce in 2001 from the University of Calgary. 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. When is Tourmaline Oil's next earnings date? 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. { Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. If you are a Home delivery print subscriber, unlimited online access is. The special dividends have netted Rose almost $45 million this year. Bottom line: Tourmaline is one of the lowest-risk energy stocks I've analyzed. Valuation: Like Tourmaline, Baytex shares look like a bargain here. (844) 978-6257. 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. 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. { Market Data powered by QuoteMedia. While there are numerous reasons for insiders to sell company shares, there is typically only one reason they buy. 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. "width": "100%", Why Tourmaline Oil Stock Just Fell to 52-week Lows? P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities. [Gas in Transition, Volume 2, Issue 5] What is Tourmaline Oil's stock price today? Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. 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. "plotLineColorFalling": "rgba(41, 98, 255, 1)", 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. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. Is this happening to you frequently? In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. "s": "OANDA:NATGASUSD", It also carries a book value per share of $5.56, higher than its current stock price. 911 lone star season 1 episode 1 watch online. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. News; Video; Tourmaline Oil has a P/B Ratio of 1.51. High institutional ownership can be a signal of strong market trust in this company. Rose also purchased 5,000 shares at C$62.77 on January 25. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. He is also Member of Canadian Society of Petroleum . Overnight on Wall Street is morning in Europe. 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. This advertisement has not loaded yet, but your article continues below. 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 has also hiked its regular quarterly dividend by 41 per cent over the last 12 months. Mr. Bush served as Completions and Operations Engineering Manager of Duvernay Oil Corp. until its acquisition in 2008. 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 has a fifty day moving average of C$60.92 and a 200 day moving average of C$70.22. Canada's best source for investing news, analysis, and insight on investment strategies, stocks and more. 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. ", He is a member of the Association of Professional Engineers and Geoscientists of Alberta and the Canadian Society of Petroleum Geologists. 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. 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. Tourmaline Oil (TSE:TOU) pays an annual dividend of C$1.00 per share and currently has a dividend yield of 1.64%. Story continues below This article by Simply Wall St is general in nature. Earlier in the year, they paid CA$18.70 per share in a CA$371k purchase. 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. Here's why Energy Transfer looks like an attractive investment opportunity. Insider buying: Insiders have been buying shares aggressively over the past year. ], "s": "TVC:USOIL+NYMEX:WCW1! } That means that an insider was happy to buy shares at around the current price of CA$22.83. 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. Its earnings are supported by its "fee-based" contracts it has signed with its clients. Ms. Beck has been the Corporate Secretary of Tourmaline Oil Corp. since March 2021 and the Associate General Counsel of the Company since 2017. 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. How many employees does Tourmaline Oil have? Export data to Excel for your own analysis. That means. According to the International Energy Agency's (IEA), Finally, remember that the U.S. has stated it intends to refill the. Join the exclusive community of smart investors who trustThe Gold Bull for expert analysis on all commodity stocks! Tourmaline Oil had a trailing twelve-month return on equity of 35.48% and a net margin of 63.21%. Tourmaline Oil pays a meaningful dividend of 1.64%, higher than the bottom 25% of all stocks that pay dividends. 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.. 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. However, it only increased shareholding by a small percentage, and it wasn't a huge purchase by absolute value, either. 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. As of 2023, Mike Rowe net worth is calculated to be around $30 million. 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. 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. 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. list of growing companies that insiders are buying. "originalTitle": "Commodities" In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. 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. We start this journey in 1998 with England vs. Argentina, the game that had everything. It also carries a book value per share of over $40, just shy of its current share price. Don't miss this opportunity to take control of your investment strategy and grow your wealth subscribe now! 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. "colorTheme": "light", We ask you to keep your comments relevant and respectful. 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. 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. 326 E 8th St #105, Sioux Falls, SD 57103 The dividend payout ratio is 7.63%. This suggests a possible upside of 38.7% from the stock's current price. 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. 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. Billionaire Tom Steyer Plans Net Zero Apartment Upgrades Across US. Under recent strip pricing, we see the stock continuing to screen attractive relative to its peers.. Prior thereto, he was Completions Manager at Tourmaline since May 2013. 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. { Mr. Bush is the Chief Operating Officer of Tourmaline Oil Corp., a position he has held since April 2014. The White Oak Shortage That Could Ruin the Bourbon Industry, First Republic Seized by Regulators, to Be Sold to JPMorgan, Australias Rapid Fiscal Revival Brings Budget Surplus in View, Goldman, Bank of America Slightly Push Back Call for BOJ Move, Kings Coronation Holiday Provides Latest Drag for UK Economy, Chinas Midea Said to Make Takeover Approach to Electrolux, Bank Failures, Broken Markets Loom Over Milkens Capitalist Utopia, AI Chatbots Have BeenUsed to Create Dozens of News Content Farms, Tech, AI Driving Job Changes for Nearly a Quarter of All Workers, Jack Ma Joins University of Tokyo as Visiting Professor, Singapore Voices Grave Concern Over South China Sea Tensions, Peter Thiel Tells Black-Tie NYC Audience That Diversity Is a Distraction, What You Need to Know About the Biden Administrations New Mortgage Fees, Russias Most Famous Fashion Designer, Who Dressed First Ladies, Dies at 85, Pope voices willingness to return Indigenous loot, artifacts, The Slow Dance Between Markets and Central Banks, The Oil Industrys Unhappy Marriage Is Starting To Face Facts, Dont Make It Too Hard for Americans to Investin China, The Boring Old Box Truck Gets the Tesla Treatment, For Banks Under Stress, Theres a Federal Backstop That Provides Help Without Stigma, What the US Can Learn From Europes ESG Mistakes, UKs Diverse Communities Ambivalent About Kings Coronation, Japan Coalition Party Says More Handouts for Kids Top Priority, What to Know About Red-Flag Warnings, an Ominous WildfireForecast, Occidental Hopes to Sell the Carbon It Capturesat the Worlds Biggest Plant, Germany Sets the New Standard for Cheap, National Mass Transit, Chinas Now Spurning Ugliest Buildings That Symbolized Its Meteoric Rise, Broke Chinese Gen Zs Turn Factory Town into Top Tourist Spot, Nigerias SEC Plans to Allow Asset-Backed Tokens But Not Crypto, Bitcoin Sags After its Longest Streak of Monthly Gains Since 2021, Bitcoin on Course for Longest Streak of Monthly Gains Since 2021, Chairman/Pres/CEO/Founder, Tourmaline Oil Corp. 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. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. 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. 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 . 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. Please be aware of the risks associated with these stocks. There was an error, please provide a valid email address. The information you requested is not available at this time, please check back again soon. Looking for buying opportunities? Mathematician and author Hannah Fry investigates patterns in human behavior, AI and the creative ideas behind the organizations and pioneers transforming society. What you need to know, David Rosenberg: Which assets have priced in a recession and which ones haven't. 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. Analysts Disclosure: I/we have a beneficial long position in the shares of TRMLF either through stock ownership, options, or other derivatives. 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. CIBC Capital Market has a $47.50 price target for the stock with an outperform rating. As a Master Limited Partnership ("MLP"), Energy Transfer also benefits from certain tax advantages. CIBC analysts think the primary sector risks are lower commodity prices and rising industry costs. Tourmaline is Canada's largest natural gas producer and its fourth-largest gas processing midstream operator. Mr. Robinson holds a Bachelor of Commerce degree from the University of Calgary and is a Chartered Accountant. Its shares now yield 9.78%, as of writing. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. There are plenty of other companies that have insiders buying up shares. 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. As such, the business plan remains strong from a strategic and tactical perspective.. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. 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? (Natural) gas demand just keeps building, Rose said. 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.. The next issue of FP Investor will soon be in your inbox. Prior thereto, he served as Vice President, Production of Tourmaline since March 2013. 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. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Prior to March 2013, he served as Completions and Operations Engineering Manager of Tourmaline since 2009. And thanks everybody who's on the line. 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. Share your thoughts and join the conversation in the comments. Tourmaline's management has guided for 2023 production of 520,000 - 540,000 barrels of oil equivalent per day ("BOE/D"). Markets never sleep, and neither does Bloomberg News. The oldest executive at Tourmaline Oil Corp. is JohnElick, 77, who is the Independent Director. 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. Tourmaline Oil has a PEG Ratio of 1.72. Rose owns a 0.4% stake in Topaz, worth about C$12 million. }, 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. "belowLineFillColorFalling": "rgba(41, 98, 255, 0.12)", Read more about cookies here. 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. Watch the video above to hear more of Roses conversation with Andrew McCreath. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. 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.). Unauthorized distribution, transmission or republication strictly prohibited. Biography of Michael Rose. 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. Chris Bolin/The Globe and Mail Tourmaline Oil Trading Up 1.9 %. In fact, there have been 34 open market buys compared to only 6 sells in that timeframe, according to Nasdaq. 2021 average. Here's a summary of insider transactions this year: On April 17, Janet Weiss, Director, bought 350 shares at C$45.58. In many cases, I've found that insiders have (mostly) timed their purchases wisely. Last year, the company, led by Michael Rose, made four acquisitions valued at a total of $795 million.
Abba Zaba Racist,
Richie Sambora New Jersey Guitar Rig,
States That Have Banned Wake Boats,
Articles M
