Tourmaline Oil declared a quarterly dividend on Wednesday, March 1st. 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. that you ought to be aware of before buying any shares in 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. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. 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. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. 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. A welcome email is on its way. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. What is Tourmaline Oil's stock price today? In this case we're pleased to report that the insider purchases were made at close to current prices. Rose also purchased 5,000 shares at C$62.77 on January 25. It's common to see an oil company of its size carry billions in debt on the balance sheet in this capital-intensive industry. }, This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. In Conversation: Mike Rose, CEO, Tourmaline Oil [Gas In Transition] Billionaire Tom Steyer Plans Net Zero Apartment Upgrades Across US. 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. Tourmaline Surge Propels Mike Rose's Stake Past C$1 Billion Michael Rose has been working as a Chairman, President & Chief Executive Officer at Tourmaline for 21 years. There are currently 6 buy ratings and 1 strong buy rating for the stock. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. 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.. mike rose tourmaline net worth - goldstockcanada.com Tourmaline Oil trades on the Toronto Stock Exchange (TSX) under the ticker symbol "TOU.". 'active' : 'js-change-currency' ?> //= plugin_dir_url( __FILE__ ) . Receive TOU Stock News and Ratings via Email. Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Michael Rose, president and CEO of Tourmaline Oil, . Mike Rowe Wife, Kids, Age, Height, Movies, Net Worth, Instagram Tourmaline Oil's mailing address is 250 6 Ave SW Suite 3700, CALGARY, AB T2P 3H7, Canada. But Tourmaline ended 2022 with just $494 million in debt. In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. 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. The company employs 322 workers across the globe. 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. 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. Mr. Rose is a member of the Association of Professional Engineers and Geoscientists of Alberta and the Canadian Society of Petroleum Geologists. Its current quarterly dividend of $.25 equals a 1.62% current stock yield. //= $_COOKIE['currency'] == 'USD' ? I believe this is a bullish sign for each stock price, for obvious reasons. "largeChartUrl": "https://energynow.ca/markets/", View which stocks are hot on social media with MarketBeat's trending stocks report. CIBC Capital Market has a $47.50 price target for the stock with an outperform rating. { 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. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. 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. He is also Member of Canadian Society of Petroleum . CEO is the third-largest shareholder of Canada gas producer, TD gives stock its only hold rating on stretched valuation. Unlimited online access to articles from across Canada with one account. 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. With its low-cost structure and diversified marketing exposure, analysts say Tourmaline is well-positioned to generate superior returns. { If you have an ad-blocker enabled you may be blocked from proceeding. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil's (TRMLF) CEO Mike Rose on Q2 2021 Results - SeekingAlpha Please be aware of the risks associated with these stocks. Ms. Aspin joined Tourmaline Oil Corp. in 2009 and was appointed Vice President, Marketing in September 2017. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Here's a summary of insider transactions this year: On April 17, Janet Weiss, Director, bought 350 shares at C$45.58. Tourmaline Oil Corp. (TSE:TOU) released its quarterly earnings results on Wednesday, March, 1st. Ms. Beck has been the Corporate Secretary of Tourmaline Oil Corp. since March 2021 and the Associate General Counsel of the Company since 2017. 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. The Midas Touch - BIC Here's why Energy Transfer looks like an attractive investment opportunity. 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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. What you need to know, David Rosenberg: Which assets have priced in a recession and which ones haven't. Analysts Disclosure: I/we have a beneficial long position in the shares of TRMLF either through stock ownership, options, or other derivatives. However, the company issued a $2/share special dividend earlier this year, and it's highly likely the company issues another special dividend again this year, based on its past track record. In the past three months, Tourmaline Oil insiders have bought more of their company's stock than they have sold. Tourmaline Oil Insider Buying: 3 Oil And Gas Stocks To Consider Now Tourmaline, led by chief executive officer Mike Rose, is buying Black Swan Ltd. for about $750-million in stock. Tourmaline Oil insiders own about CA$497m worth of shares (which is 7.0% of the company). "title": "Commodities", How many employees does Tourmaline Oil have? 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. Shares of TOU stock and other Canadian stocks can be purchased through an online brokerage account. First, investors should note that the OPEC cuts have not yet taken effect (they begin in May). According to reliable sources, he means about $5 million to $10 million per year from his endorsements and television endeavors. Tourmaline gained the mineral rights by giving Perpetual Energy about 6.75 million share of Tourmaline stock, worth approximately CAN$256.5 million. Wallmine is a radically better financial terminal. contact@marketbeat.com After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008. Mike Rose, Tourmaline Oil Corp: Profile and Biography 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). Michael Rose Net Worth (2023) | wallmine Tourmaline Oil CEO Michael Rose on his energy company's outlook My precious: Meet the Canadian natural gas producer that analysts are 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. The Ranger Oil acquisition looks like a transformative move for the company, and, I think it's a good sign that insiders have been buying ahead of the closing of the acquisition. "belowLineFillColorFallingBottom": "rgba(41, 98, 255, 0)", "s": "OANDA:NATGASUSD", We apologize, but this video has failed to load. One share of TOU stock can currently be purchased for approximately C$60.87. 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 can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. ] Mr. Kirker has practiced law for more than 30 years in various capacities. The information you requested is not available at this time, please check back again soon. The company has a fifty day moving average of C$60.92 and a 200 day moving average of C$70.22. Mr. Tumbach holds a Bachelor of Commerce degree from the University of Calgary and isa Member of the Canadian Association of Petroleum Landmen. Tourmaline and Topaz are the third and fourth oil and gas companies that Rose has built into billion-dollar enterprises. The company earned $2.18 billion during the quarter. Earlier in the year, they paid CA$18.70 per share in a CA$371k purchase. view top-rated stocks among Wall Street analysts, 250 6 Ave SW Suite 3700, CALGARY, AB T2P 3H7, Canada. Tourmaline had net income in the last three months of 2020 of $629 million, more than 10 times the $61.3 million it reported in the same period of 2019. The stock is a high-yielder that should continue to pump out consistent distributions every quarter, and its near-10% yield looks sustainable, despite the company's debt load. High institutional ownership can be a signal of strong market trust in this company. Michael Rose, CEO of Tourmaline OIl Corp. , which the company says essentially offsets its estimated, Enbridge beats profit estimates as oil volumes rebound, LNG Canada project threatened amid cost dispute over Coastal GasLink pipeline, Cenovus Energy posts 2% rise in quarterly profit, exposure, CIBC Capital Market analysts say, billion of free cash flow in 2022 and US$, are lower commodity prices and rising industry costs, tap here to see other videos from our team. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. All Rights Reserved. The companys updated fiveyear plan, at current prices, delivers $1.8 billion of free cash flow in 2022 and US$7 billion over the full fiveyear duration of the plan. Tourmaline Oil Corp. (TRMLF) CEO Michael Rose on Q4 2021 Results Is this happening to you frequently? 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. The company was incorporated in 2008 and is headquartered in Calgary, Canada. PEG Ratios above 1 indicate that a company could be overvalued. Get in touch with us directly. 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 . All rights reserved. Canada Energy Assembly and Dinner 2022 Lifetime Achievement Award: Mike
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