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. 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 Oil's mailing address is 250 6 Ave SW Suite 3700, CALGARY, AB T2P 3H7, Canada. }, Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). This payout ratio is at a healthy, sustainable level, below 75%. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. (Natural) gas demand just keeps building, Rose said. National Bank analyst Dan Payne calls the company stock best in breed, noting that the company has structurally gapped away from the peers, which should continue to yield outsized returns and value.. A high insider ownership often makes company leadership more mindful of shareholder interests. On average, they expect the company's stock price to reach C$84.44 in the next twelve months. What other stocks do shareholders of Tourmaline Oil own? Soaring natural gas prices have propelled Tourmaline Oil Corp. Chief Executive Officer Mike Rose into the ranks of Canadas billionaires. In the last twelve months, the biggest single purchase by an insider was when Chairman of the Board Michael Rose bought CA$763k worth of shares at a price of CA$77.43 per share. I believe this is a bullish sign for each stock price, for obvious reasons. 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. As a Master Limited Partnership ("MLP"), Energy Transfer also benefits from certain tax advantages. Its shares now yield 9.78%, as of writing. It's certainly positive to see the recent insider purchases. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Mr. Robinson is a director and the Vice President, Finance and Chief Financial Officer of Tourmaline. 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. Mr. Frostad has served as the Vice President, Exploration of Tourmaline Oil Corp. since November 2019. Concerned about the content? Tourmaline gained the mineral rights by giving Perpetual Energy about 6.75 million share of Tourmaline stock, worth approximately CAN$256.5 million. 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. Popular online brokerages with access to the Canadian stock market include BMO InvestorLine, CIBC Investor's Edge, Desjardins Online Brokerage, HSBC InvestDirect, Laurentian Bank Discount Brokerage, National Bank Direct Brokerage, Qtrade Investor, Questrade, RBC Direct Investing, Scotia iTrade, TD Direct Investing, and Virtual Brokers.Compare Top Brokerages Here. TSE:TOU opened at C$56.23 on Wednesday. Here's a summary of insider transactions this year: On April 17, Janet Weiss, Director, bought 350 shares at C$45.58. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). 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. Tourmaline and Topaz are the third and fourth oil and gas companies that Rose has built into billion-dollar enterprises. } 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. that you ought to be aware of before buying any shares in Tourmaline Oil. "d": "NYMEX Natural Gas" I am not receiving compensation for it (other than from Seeking Alpha). "width": "100%", Michael Rose is 62, he's been the Chairman of the Board, President, Chief Executive Officer, and Director of Tourmaline Oil since 2008. That means they have been optimistic about the company in the past, though they may have changed their mind. 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). Under recent strip pricing, we see the stock continuing to screen attractive relative to its peers.. On March 7 and 13, Mike Rose, Senior Officer, bought a combined 10,000 shares at C$55.70 and C$58.77. Although it's not the only criteria to consider when evaluating a company, tracking and analyzing insider activity has proven valuable. Mr. Kirker has practiced law for more than 30 years in various capacities. Share your thoughts and join the conversation in the comments. You have already added five stocks to your watchlist. Monitor your investments 24 hours a day, around the clock from around the globe. 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. Dennis da Silva's Top Picks: April 26, 2023, {{data.symbol | reutersRICLabelFormat:group.RICS}}, {{ stock | formatPrefix }}{{ stock.netChng | formatNetChange }}, Record 4,800-kilometre voyage for Canadian gas offers relief for Asia, Big Oil is paying out years of dividends in one day. Tourmaline Oil had a trailing twelve-month return on equity of 35.48% and a net margin of 63.21%. See what's happening in the market right now with MarketBeat's real-time news feed. Please. The company employs 322 workers across the globe. This idea was discussed in more depth with members of my private investing community, The Gold Bull Portfolio. 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's management has guided for 2023 production of 520,000 - 540,000 barrels of oil equivalent per day ("BOE/D"). I discuss oil prices and analyze 3 companies with recent insider buying. First, investors should note that the OPEC cuts have not yet taken effect (they begin in May). "d": "WCS Heavy" 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. There are plenty of other companies that have insiders buying up shares. Despite a significant decline in U.S. crude stockpiles, the dollar has risen in value and oil has fallen in price, largely due to the likelihood of the Federal Reserve raising interest rates again next month (which could potentially weaken energy demand further). 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. Prior to March 2013, he served as Completions and Operations Engineering Manager of Tourmaline since 2009. That'll likely change following closure of the Ranger Oil transaction, but it's something to consider when evaluating your current investment options. 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. I am here with Mike Rose, Tourmaline's President and Chief Executive Officer; Brian Robinson, Vice President, Finance and Chief Financial Officer; and Jamie Heard, our Manager of Capital. Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. "s": "TVC:UKOIL", After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008. Valuation: Like Tourmaline, Baytex shares look like a bargain here. 326 E 8th St #105, Sioux Falls, SD 57103 Oil prices surged to $80/barrel earlier this month following OPEC's unexpected production cuts. View TOU analyst ratings or view top-rated stocks. Its earnings are supported by its "fee-based" contracts it has signed with its clients. 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. Investors who can stomach the short-term volatility and the possibility of lower oil & gas prices this quarter should benefit greatly later on. In this case we're pleased to report that the insider purchases were made at close to current prices. Many might not know this, but this man is also a professional voice-over artist. The information you requested is not available at this time, please check back again soon. All Rights Reserved. Mr. Tumbach holds a Bachelor of Commerce degree from the University of Calgary and isa Member of the Canadian Association of Petroleum Landmen. Insider buying: Insiders have been buying shares aggressively over the past year. Check out our latest analysis for Tourmaline Oil. Rose also purchased 5,000 shares at C$62.77 on January 25. Monitor your investments 24 hours a day, around the clock from around the globe. Mr. Rose was educated at Queens University, graduating with an honours degree in Geology. Support local journalists and the next generation of journalists. Distribution: One of the key reasons to invest in its stock is for its distribution. I detail the insider transactions, provide an overview of each company and its valuation, and offer a bottom line for investors. 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Should You Be Too? Tourmaline Oil does not have a long track record of dividend growth. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. 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. 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. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. ("Duvernay"), a publicly traded oil and gas company (2004-2008). Mike Rose started Tourmaline Oil Corp., now Canada's third-largest natural gas producer, by scooping up land the last time energy companies were in a slump. And thanks everybody who's on the line. Please disable your ad-blocker and refresh. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Ms. Tait obtained her Chartered Accountant designation in 2003 and her Bachelor of Commerce in 2001 from the University of Calgary. Seven years on, he's at it again.. And, it expects to end the year with a cash positive position. CEO is the third-largest shareholder of Canada gas producer, TD gives stock its only hold rating on stretched valuation. Mr. Rose said an $8-million investment in the project has already saved Tourmaline more than $25-million in fuel costs. How many employees does Tourmaline Oil have? The company can be reached via phone at +1-403-7673587. Its current quarterly dividend of $.25 equals a 1.62% current stock yield. View our TOU earnings forecast. 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. Most recently, Kendall Douglas Arthur, Senior Officer, bought 10,000 shares at C$5.50 (US$4.08) on March 7. 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.. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. Mr. Mike Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. 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. VP of Fin., CFO & Non-Independent Director. This article by Simply Wall St is general in nature. This suggests a possible upside of 38.7% from the stock's current price. 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. 7 brokers have issued twelve-month target prices for Tourmaline Oil's shares. According to the International Energy Agency's (IEA), Finally, remember that the U.S. has stated it intends to refill the. 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. That means. { Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. And the longer term insider transactions also give us confidence. How were Tourmaline Oil's earnings last quarter? Unauthorized distribution, transmission or republication strictly prohibited. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. "d": "Brent Crude (UKOIL)" Receive TOU Stock News and Ratings via Email. Michael Rose, CEO of Tourmaline OIl Corp. Photo by Jim Wells/Postmedia. 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 company earned $2.18 billion during the quarter. "symbols": [ Looking for buying opportunities? Get 30 Days of MarketBeat All Access Free, By creating a free account, you agree to our, First Republic up in air as regulators juggle bank's fate, Stock market today: Tokyo gains, most Asian markets closed, Regulators seize First Republic Bank, sell to JPMorgan Chase, 'Super Mario Bros. Movie' hits $1B, is No. Odyssey Trust Company1-587-885-0960 (within Canada)1-888-290-1175 (Toll Free). Billionaire Tom Steyer Plans Net Zero Apartment Upgrades Across US. (844) 978-6257. There are 1 executives at Tourmaline Oil getting paid more, with Michael L. Rose having the highest compensation of $3,483,282. Join thousands of other investors who make better investing decisions with our premium tools. Get email updates from your favourite authors. Mathematician and author Hannah Fry investigates patterns in human behavior, AI and the creative ideas behind the organizations and pioneers transforming society.
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