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. I discuss oil prices and analyze 3 companies with recent insider buying. Under recent strip pricing, we see the stock continuing to screen attractive relative to its peers.. View which stocks are hot on social media with MarketBeat's trending stocks report. 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. . Canada's best source for investing news, analysis, and insight on investment strategies, stocks and more. As the Director of Paramount Resources, the total compensation of Susan Rose at Paramount Resources is CAD$70,000. Tourmaline Oil's stock was trading at C$68.32 at the beginning of the year. "belowLineFillColorFallingBottom": "rgba(41, 98, 255, 0)", 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. The consensus among Wall Street research analysts is that investors should "buy" TOU shares. In fact, there have been 34 open market buys compared to only 6 sells in that timeframe, according to Nasdaq. That's what I like to see! 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.. 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. But, I will also point out that the stock is only worth considering if you fully understand the tax implications and potential drawbacks of owning an MLP. articles a month for anyone to read, even non-subscribers! Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. 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). I/we have a beneficial long position in the shares of TRMLF either through stock ownership, options, or other derivatives. Access advanced stock screeners, portfolio monitoring tools, proprietary research reports, and more. One share of TOU stock can currently be purchased for approximately C$60.87. This payout ratio is at a healthy, sustainable level, below 75%. He is also Member of Canadian Society of Petroleum . I have no business relationship with any company whose stock is mentioned in this article. 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. Mr. Robinson holds a Bachelor of Commerce degree from the University of Calgary and is a Chartered Accountant. Tourmaline Oil has received a consensus rating of Buy. We believe the recent pause in the shares represents an opportunity as we move into the fall of 2021. 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. Prior to joining Tourmaline in 2011, Ms. Tait was the Chief Financial Officer of Cinch Energy Corp., a publically traded junior oil and gas company, which was acquired by Tourmaline. Mr. Tumbach has been the Vice President, Land and Contracts of Tourmaline Oil Corp. since 2008. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of $2.90 by $2.99. Subscribe now to read the latest news in your city and across Canada. Join thousands of other investors who make better investing decisions with our premium tools. My comprehensive understanding of these markets and my ability to identify and capitalize on profitable opportunities have enabled me to consistently deliver strong returns for my subscribers. Specifically, they have bought C$588,306.00 in company stock and sold C$0.00 in company stock. Insiders have purchased 14.86 million shares. This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. 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 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. Mr. Prior to March 2013, he served as Completions and Operations Engineering Manager of Tourmaline since 2009. Odyssey Trust Company1-587-885-0960 (within Canada)1-888-290-1175 (Toll Free). This week Michael (Mike) Rose, Chairman, President, and Chief Executive Officer of Tourmaline joins us as our guest. } 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. There are currently 6 buy ratings and 1 strong buy rating for the stock. Tourmaline, Canadas second-largest natural gas producer, has jumped 56% 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. How often does Tourmaline Oil pay dividends? Prior thereto, he was the Secretary and General Counsel of Tourmaline Oil Corp. since 2008. Tourmaline Oil's mailing address is 250 6 Ave SW Suite 3700, CALGARY, AB T2P 3H7, Canada. Heres why, Red Alert Ahead: Report Warns More World Oil and Gas Investment Desperately Needed, Capstone Infrastructure Corporations Wild Rose 2 Wind Farm Signs Landmark Agreement with the City of Edmonton, Capping Russian Oil Prices Is Pure Fantasy, Williston Basin Petroleum Conference 2023, Canada Gas & LNG Exhibition and Conference 2023, The Indigenous Partnerships Success Showcase 2023, Operational Excellence in Energy, Chemicals & Resources (OPEX 2023), 2023 NCC Energy and Natural Resource Summit, 9th Annual Digitalization in Oil and Gas Conference (Digitalization 2023). Investors who can stomach the short-term volatility and the possibility of lower oil & gas prices this quarter should benefit greatly later on. Valuation: Like Tourmaline, Baytex shares look like a bargain here. If you don't see it, please check your junk folder. The company can be reached via phone at +1-403-7673587. Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. Tourmaline has also hiked its regular quarterly dividend by 41% over the last 12 months. 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. Alternatively, email editorial-team (at) simplywallst.com. 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. 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. 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). It's common to see an oil company of its size carry billions in debt on the balance sheet in this capital-intensive industry. Ms. Tait obtained her Chartered Accountant designation in 2003 and her Bachelor of Commerce in 2001 from the University of Calgary. "belowLineFillColorGrowingBottom": "rgba(41, 98, 255, 0)", { "isTransparent": false, Vice President, Finance & Chief Financial Officer. 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. With over a decade of experience in the investment industry, I am a highly skilled private investor with a proven track record of success in the commodities and hard assets sector. 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. Mike Rose Thanks Jamie. Get daily stock ideas from top-performing Wall Street analysts. 7 brokers have issued twelve-month target prices for Tourmaline Oil's shares. Mr. Bush served as Completions and Operations Engineering Manager of Duvernay Oil Corp. until its acquisition in 2008. On January 23 and 25, Jill Angevine, Director, bought 1,120 shares at C$62.63 and C$65.94. "title": "Commodities", Tourmaline Oil trades on the Toronto Stock Exchange (TSX) under the ticker symbol "TOU.". As such, the business plan remains strong from a strategic and tactical perspective.. CIBC Capital Market has a $47.50 price target for the stock with an outperform rating. It also carries a book value per share of $5.56, higher than its current stock price. It said the increase in net earnings. Tourmaline still own just over a 50 per cent stake in Topaz. "plotLineColorFalling": "rgba(41, 98, 255, 1)", 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. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. What is Tourmaline Oil's stock price forecast for 2023? This article by Simply Wall St is general in nature. Their TOU share price forecasts range from C$70.00 to C$112.00. It's certainly positive to see the recent insider purchases. Don't miss this opportunity to take control of your investment strategy and grow your wealth subscribe now! Michael Rose is 62, he's been the Chairman of the Board, President, Chief Executive Officer, and Director of Tourmaline Oil since 2008. 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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. Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. Mr. Rose is a member of the Association of Professional Engineers and Geoscientists of Alberta and the Canadian Society of Petroleum Geologists. 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. Monitor your investments 24 hours a day, around the clock from around the globe. "s": "USOIL", Wallmine is a radically better financial terminal. (844) 978-6257. }, Eine andere -Site. PEG Ratios above 1 indicate that a company could be overvalued. Is this happening to you frequently? { News; Video; Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (Duvernay), a publicly traded oil and gas company (2004-2008). US Property Taxes Rose Twice as Fast Last Year Than in 2021. . On March 7 and 13, Mike Rose, Senior Officer, bought a combined 10,000 shares at C$55.70 and C$58.77. 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. 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). Michael Rose, president and CEO of Tourmaline Oil, . 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. 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. That gives the company enormous financial flexibility - it can ramp up its shareholder returns via increased dividends and buybacks, or use its firepower to complete accretive deals, should it desire to, for example. This idea was discussed in more depth with members of my private investing community, The Gold Bull Portfolio. 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. Insiders have been buying shares at three oil & gas companies lately. 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. Tourmaline's management has guided for 2023 production of 520,000 - 540,000 barrels of oil equivalent per day ("BOE/D"). Rose owns a 0.4 per cent stake in Topaz, worth about $12 million. Energy Transfer is currently paying out $1.23 annualized (back to its payout levels before the pandemic hit), after its recent distribution increase. This suggests a possible upside of 38.7% from the stock's current price. Tourmaline Oil Trading Up 1.9 %. The combined co. will command a higher market cap ($5 billion), stronger production, more liquidity, and a greater ability to return capital to shareholders. Mr. Bush is the Chief Operating Officer of Tourmaline Oil Corp., a position he has held since April 2014. Dividend: One potential downside of owning the stock is the fact that it (currently) does not pay a dividend. Please try again. However, oil prices have since declined, nearly erasing the gains from OPEC's decision. Prior to joining Tourmaline, Ms. Beck worked in legal and business development roles at Pembina Pipeline Corporation. Balance sheet strength: Tourmaline has one of the strongest financial positions of any oil & gas stock I've evaluated. For example, the company is not taxed at the corporate level as it's considered a pass-through entity, and unitholders report their share of the company's income and expenses on their personal tax returns (using form K1's). Tourmaline is Canada's largest natural gas producer and its fourth-largest gas processing midstream operator. '../imgs/USA.png' ?> //= $_COOKIE['currency'] == 'CAD . Unauthorized distribution, transmission or republication strictly prohibited. Its current quarterly dividend of $.25 equals a 1.62% current stock yield. { 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. ], The next issue of FP Investor will soon be in your inbox. 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. Read our dividend analysis for TOU. "belowLineFillColorFalling": "rgba(41, 98, 255, 0.12)", You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. The information you requested is not available at this time, please check back again soon. Tourmaline has also hiked its regular quarterly dividend by 41 per cent over the last 12 months. 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. Tourmaline Oil has a PEG Ratio of 1.72. The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 3rd 2023. 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. 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.. 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. See what's happening in the market right now with MarketBeat's real-time news feed. 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. How many employees does Tourmaline Oil have? 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. 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. And, as a special welcome offer, new subscribers can try out our service risk-free with a free 2-week trial and receive a 10% discount on annual subscriptions. }, Mr. Robinson is a director and the Vice President, Finance and Chief Financial Officer of Tourmaline. Tourmalines Topaz equity ownership was valued at $939.7 million in mid-July, which the company says essentially offsets its estimated 2021 yearend net debt. Prior thereto, he was Exploration Manager of the Companys NEBC and PRH operating areas, and Senior Geologist at Tourmaline, since February 2009. Oil's short-term outlook remains uncertain for these reasons. "symbols": [ "originalTitle": "Commodities" Michael Rose, president and CEO of Tourmaline Oil, spoke with Weekly host Andrew McCreath about his companys outlook on pricing, revenue and cash flow. In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. 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.
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