Earlier in the year, they paid CA$18.70 per share in a CA$371k purchase. 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. Tourmaline Oil trades on the Toronto Stock Exchange (TSX) under the ticker symbol "TOU.". Ms. Beck holds a Bachelor of Arts (Economics) degree from the University of British Columbia and a Bachelor of Laws degree from Dalhousie University. Seven years on, he's at it again.. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). I wrote this article myself, and it expresses my own opinions. FourFourTwo Films is celebrating the last 20 years of World Cup history through a game, a player, a moment, a team and a goal all that makes the World Cup great. 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.. "symbols": [ Unlimited online access to articles from across Canada with one account. China's Services Activity Surges to More Than Two-Year High. 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. And thanks everybody who's on the line. In-depth profiles and analysis for 20,000 public companies. 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. The company has been on an acquisition spree, having completed the purchase of Black Swan Energy Ltd., and Paramount Resources Ltd.s land assets in North Montney. 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. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. "belowLineFillColorFallingBottom": "rgba(41, 98, 255, 0)", Tourmaline Oil insiders may have bought shares in the last year, but they didn't sell any. "plotLineColorGrowing": "rgba(15, 164, 207, 1)", Access to my personal gold portfolio and build your own winning portfolio. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities. Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. 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. There are 7 older and 4 younger executives at Tourmaline Oil. What is Tourmaline Oil's stock price forecast for 2023? Create an account or sign in to continue with your reading experience. Monitor your investments 24 hours a day, around the clock from around the globe. There are 14 executives at Paramount Resources getting paid more, with James Riddell having the highest compensation of $1,815,460. 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 his death in 2018. 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. Mr. Rose said an $8-million investment in the project has already saved Tourmaline more than $25-million in fuel costs. 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. We start this journey in 1998 with England vs. Argentina, the game that had everything. Tourmaline is part of the Electricity, Oil & Gas industry, and located in Canada. 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 3rd 2023. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. 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. The special dividends have netted Rose almost $45 million this year. Mr. Tumbach holds a Bachelor of Commerce degree from the University of Calgary and isa Member of the Canadian Association of Petroleum Landmen. Watch the video above to hear more of Roses conversation with Andrew McCreath. there have been sell-offs in oil & gas stocks in the first place. 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. As of 2023, Mike Rowe net worth is calculated to be around $30 million. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. 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. "showChart": true, The ex-dividend date of this dividend is Tuesday, March 14th. 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. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Tourmaline Oil has only been the subject of 2 research reports in the past 90 days. As a Master Limited Partnership ("MLP"), Energy Transfer also benefits from certain tax advantages. Billionaire Tom Steyer Plans Net Zero Apartment Upgrades Across US. The company currently estimates the move will be 20% accretive to its free cash flow per share, for example. View the best growth stocks for 2023 here. I have no business relationship with any company whose stock is mentioned in this article. Tourmaline, Canadas second-largest natural gas producer, has jumped 56 per cent over that period thanks to a combination of rising natural gas prices on tight supplies and a series of dividend hikes and special dividend payouts. Tourmaline Oil Corp. has a . 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. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. [Gas in Transition, Volume 2, Issue 5] Risks to consider: Energy Transfer has stable, consistent cash flow and earnings from its largely fee-based contracts. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. Here's why Energy Transfer looks like an attractive investment opportunity. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of $2.90 by $2.99. In fact, the recent purchase by Chairman of the Board Michael Rose was not their only acquisition of Tourmaline Oil shares this year. Under recent strip pricing, we see the stock continuing to screen attractive relative to its peers.. 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. Prior thereto, he wasVice President, Land and Contractsat Berkley Petroleum Corp. until it was acquired in 2001. 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. Oil prices surged to $80/barrel earlier this month following OPEC's unexpected production cuts. What you need to know, David Rosenberg: Which assets have priced in a recession and which ones haven't. "colorTheme": "light", Ms. Aspin joined Tourmaline Oil Corp. in 2009 and was appointed Vice President, Marketing in September 2017. "showSymbolLogo": true, 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 market average P/E ratio of about 126.86. Among other awards, Mr. Rose is the recipient of the Stanley Slipper Gold Medal from the Canadian Society of Petroleum Geologists (2009). 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. To see all exchange delays and terms of use please see Barchart's disclaimer. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about Tourmaline Oil. Should I buy or sell Tourmaline Oil stock right now? Prior to joining Cinch, Ms. Tait was an audit manager at Ernst & Young Chartered Accountants. But over a five-year period, the stock has only edged up 0.15 per cent. On March 7 and 13, Mike Rose, Senior Officer, bought a combined 10,000 shares at C$55.70 and C$58.77. I am not receiving compensation for it (other than from Seeking Alpha). 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. A few of the highlights, Q2. 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 . 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. Join thousands of other investors who make better investing decisions with our premium tools. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). How were Tourmaline Oil's earnings last quarter? However, it only increased shareholding by a small percentage, and it wasn't a huge purchase by absolute value, either. Its current quarterly dividend of $.25 equals a 1.62% current stock yield. 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. Michael Rose, CEO of Tourmaline OIl Corp. Photo by Jim Wells/Postmedia. 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. As the Director of Paramount Resources, the total compensation of Susan Rose at Paramount Resources is CAD$70,000.
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