Mr. Rose said an $8-million investment in the project has already saved Tourmaline more than $25-million in fuel costs. 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). { Ms. Aspin joined Tourmaline Oil Corp. in 2009 and was appointed Vice President, Marketing in September 2017. Michael L. Rose serves as Chairman of the Board, President, Chief Executive Officer, Director of the Company. 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. This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders. Perpetual Energy's chief executive officer was Susan Riddell Rose, Michael Rose's wife. 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. 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. Its earnings are supported by its "fee-based" contracts it has signed with its clients. Company News. 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. Michael Rose Email & Phone Number - Tourmaline | ZoomInfo 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%). The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of $2.90 by $2.99. Read our dividend analysis for TOU. Soaring natural gas prices have propelled Tourmaline Oil Corp. Chief Executive Officer Mike Rose into the ranks of Canadas billionaires. 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's stock was trading at C$68.32 at the beginning of the year. 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 Completions Manager at Tourmaline since May 2013. You have already added five stocks to your watchlist. 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. Unauthorized distribution, transmission or republication strictly prohibited. "isTransparent": false, We ask you to keep your comments relevant and respectful. Tourmaline Oil has only been the subject of 2 research reports in the past 90 days. Identify stocks that meet your criteria using seven unique stock screeners. Tourmaline Oil pays a meaningful dividend of 1.64%, higher than the bottom 25% of all stocks that pay dividends. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. The combined co. will command a higher market cap ($5 billion), stronger production, more liquidity, and a greater ability to return capital to shareholders. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. 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. "width": "100%", Canadian Natural Gas Has Gone Global: An Interview with Mike Rose from there have been sell-offs in oil & gas stocks in the first place. I detail the insider transactions, provide an overview of each company and its valuation, and offer a bottom line for investors. Michael Rose Net Worth (2023) | wallmine Please be aware of the risks associated with these stocks. Valuation: Like Tourmaline, Baytex shares look like a bargain here. The oldest executive at Tourmaline Oil Corp. is JohnElick, 77, who is the Independent Director. 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. Stockholders of record on Wednesday, March 15th will be given a dividend of 0.25 per share on Friday, March 31st. Billionaire Tom Steyer Plans Net Zero Apartment Upgrades Across US. 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. 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. Tourmaline Oil is Canada's largest natural gas producer, and a leader in employing technology and innovation to produce ever cleaner natural gas. Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. Prior thereto, he was Exploration Manager of the Companys NEBC and PRH operating areas, and Senior Geologist at Tourmaline, since February 2009. Tourmaline Surge Propels Mike Rose's Stake Past C$1 Billion PEG Ratios above 1 indicate that a company could be overvalued. If you have an ad-blocker enabled you may be blocked from proceeding. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). And thanks everybody who's on the line. What is Tourmaline Oil's stock price forecast for 2023? "colorTheme": "light", 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. 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. Bullish insiders bet CA$9.2m on Tourmaline Oil Corp. (TSE:TOU) 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. View TOU analyst ratings or view top-rated stocks. 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. Michael L. Rose serves as Chairman of the Board, President, Chief Executive Officer, . Prior thereto, Mr. Robinson was Vice President, Finance and Chief Financial Officer of Duvernay and prior to that was Vice President, Finance and Chief Financial Officer of Berkley. CIBC Capital Market has a $47.50 price target for the stock with an outperform rating. Monitor your investments 24 hours a day, around the clock from around the globe. Valuation: Energy Transfer looks like a reasonably priced MLP, with a P/E of 9, an EV/EBITDA of 7, and a price-to-sales of .44. "s": "OANDA:NATGASUSD", CIBC analysts think the primary sector risks are lower commodity prices and rising industry costs. Tourmaline Oil CEO says oil patch acquisition environment still This advertisement has not loaded yet, but your article continues below. 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. There was an error, please provide a valid email address. 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. Since then, TOU shares have decreased by 10.9% and is now trading at C$60.87. Insiders have been buying shares at three oil & gas companies lately. 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. { 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 (2023) | wallmine CA Is the stock too good to be true? "height": "500", Concerned about the content? Mike Rowe has a net worth of $30 million in 2023. 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). Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. Join thousands of other investors who make better investing decisions with our premium tools. But Tourmaline ended 2022 with just $494 million in debt. Our daily ratings and market update email newsletter. list of growing companies that insiders are buying. We aim to bring you long-term focused analysis driven by fundamental data. 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. The company earned $2.18 billion during the quarter. Ms. Tait obtained her Chartered Accountant designation in 2003 and her Bachelor of Commerce in 2001 from the University of Calgary. There are 1 executives at Tourmaline Oil getting paid more, with Michael L. Rose having the highest compensation of $3,483,282. Mr. Bush holds aBachelors degree in Mining Engineering from Montana College of Mineral Science and Technology, Butte Montana. And, it expects to end the year with a cash positive position. Tourmaline Oil insiders may have bought shares in the last year, but they didn't sell any. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. While that sounds like a small percentage, Energy Transfer is a $39 billion company, so it represents a huge investment worth more than $1 billion. 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. 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. Although it's not the only criteria to consider when evaluating a company, tracking and analyzing insider activity has proven valuable. And the longer term insider transactions also give us confidence. Most recently, Kelcy Warren, Chairman, bought 1.33 million shares at an average price of $12.99 on Feb. 22, according to MarketBeat. 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. If you don't see it, please check your junk folder. Get short term trading ideas from the MarketBeat Idea Engine. 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. Don't miss this opportunity to take control of your investment strategy and grow your wealth subscribe now!