If you want to know exactly who sold, for how much, and when, simply click on the graph below! In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. 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. Tourmaline made some exciting announcements last week. First Republic Talks Extend Into Night After Banks Place Bids, Warren Buffett Will Beat the Market in Recession Times, Investors Say, Jerome Powell Could Face More Opposition as Fed Choices Get Tougher, Munger Warns Banks Stuck with Commercial Property Debt, FT Says, Your Sunday US Briefing: Pressure Mounts on First Republic. Subscribe now to read the latest news in your city and across 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). 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 Oils/Energy sector average P/E ratio of about 56.11. Overnight on Wall Street is morning in Europe. 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. Daily puzzles including the New York Times Crossword. "locale": "en", 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). This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. View analysts price targets for TOU or view top-rated stocks among Wall Street analysts. }, "height": "500", Michael L. Rose founded Tourmaline Oil Corp., Duvernay Oil Corp. and Berkley Petroleum Corp. Mr. Rose holds the position of Chairman, President & Chief Executive Officer of Tourmaline Oil Corp. and Chairman at Topaz Energy Corp. (a subsidiary of Tourmaline Oil Corp.). Tourmaline, led by chief executive officer Mike Rose, is buying Black Swan Ltd. for about $750-million in stock. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). He is also Member of Canadian Society of Petroleum . Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). "belowLineFillColorFalling": "rgba(41, 98, 255, 0.12)", Prior to joining Tourmaline, Mr. McKinnon held both engineering and operational roles at Shell Canada Ltd. Mr. McKinnon holds a Bachelor of Science in petroleum engineering from Montana Tech at the University of Montana. "s": "TVC:USOIL+NYMEX:ICL1! First, investors should note that the OPEC cuts have not yet taken effect (they begin in May). Most recently, Kelcy Warren, Chairman, bought 1.33 million shares at an average price of $12.99 on Feb. 22, according to MarketBeat. Baytex's vision is to grow into a top-tier North American oil producer focused on per share value creation, according to the company. 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. I have no business relationship with any company whose stock is mentioned in this article. Get short term trading ideas from the MarketBeat Idea Engine. Mike Rowe has a net worth of $30 million in 2023. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. There are 1 executives at Tourmaline Oil getting paid more, . Bottom line: Baytex's stock is down 28.59% over the past year, but the worst of it may be behind it. 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. 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. 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. Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. 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I wrote this article myself, and it expresses my own opinions. 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. 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. Bottom line: Tourmaline is one of the lowest-risk energy stocks I've analyzed. Its earnings are supported by its "fee-based" contracts it has signed with its clients. Several members of the leadership team have been with Rose at all three companies. 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 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. On average, they expect the company's stock price to reach C$84.44 in the next twelve months. This suggests a possible upside of 38.7% from the stock's current price. Mr. Frostad has served as the Vice President, Exploration of Tourmaline Oil Corp. since November 2019. Please be aware of the risks associated with these stocks. "d": "Brent Crude (UKOIL)" Mr. 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). { 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. The company currently estimates the move will be 20% accretive to its free cash flow per share, for example. 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). How many employees does Tourmaline Oil have? Mr. Bush is the Chief Operating Officer of Tourmaline Oil Corp., a position he has held since April 2014. Mike Rose Thanks Jamie. However, oil prices have since declined, nearly erasing the gains from OPEC's decision. { Second, expect a big oil deficit in H2 2023. [Gas in Transition, Volume 2, Issue 5] Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Sign-up to receive the latest news and ratings for Tourmaline Oil and its competitors with MarketBeat's FREE daily newsletter. High institutional ownership can be a signal of strong market trust in this company. But the company does carry quite a bit of debt. But over a five-year period, the stock has only edged up 0.15 per cent. "scaleFontColor": "rgba(120, 123, 134, 1)", As such, the business plan remains strong from a strategic and tactical perspective.. The next issue of FP Investor will soon be in your inbox. Tourmaline's management has guided for 2023 production of 520,000 - 540,000 barrels of oil equivalent per day ("BOE/D"). View TOU analyst ratings or view top-rated stocks. 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. Tourmaline Oil executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Mr. Kirker holds a Bachelor of Arts degree and a Masters of Science in Psychology, both from the University of Calgary, as well as a Bachelor of Laws degree from the University of Alberta. Concerned about the content? Mr. Rose was educated at Queens University, graduating with an honours degree in Geology. Please disable your ad-blocker and refresh. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. There are 1 executives at Tourmaline Oil getting paid more, with Michael L. Rose having the highest compensation of $3,483,282. But the latter half of 2023 seems more promising for a rally in oil & gas prices due to supply concerns, and in the stocks I mention below. Billionaire Tom Steyer Plans Net Zero Apartment Upgrades Across US. "originalTitle": "Commodities" Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. "colorTheme": "light", Wallmine is a radically better financial terminal. Without further ado, here are three oil & gas stocks that have recently experienced recent insider buying. The oldest executive at Tourmaline Oil Corp. is JohnElick, 77, who is the Independent Director. 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. 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. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. To help with this, we've discovered 5 warning signs (1 doesn't sit too well with us!) "tabs": [ 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. Ms. Beck holds a Bachelor of Arts (Economics) degree from the University of British Columbia and a Bachelor of Laws degree from Dalhousie University. Is the stock too good to be true? Ms. Aspin joined Tourmaline Oil Corp. in 2009 and was appointed Vice President, Marketing in September 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. There are 14 executives at Paramount Resources getting paid more, with James Riddell having the highest compensation of $1,815,460. 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. { Only 5.47% of the stock of Tourmaline Oil is held by insiders. Its current quarterly dividend of $.25 equals a 1.62% current stock yield. This idea was discussed in more depth with members of my private investing community, The Gold Bull Portfolio. After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008 for $5.9 billion. 7 brokers have issued twelve-month target prices for Tourmaline Oil's shares. Prior to joining Tourmaline, Mr. Frostad served as Geologist at Duvernay Oil Corp until its acquisition in 2008. Tourmaline has also hiked its regular quarterly dividend by 41 per cent over the last 12 months. "belowLineFillColorGrowing": "rgba(41, 98, 255, 0.12)", Please try again. It's certainly positive to see the recent insider purchases. He started Duvernay Oil Corp. shortly thereafter, eventually selling it to Shell for $5.9 billion in 2008. In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. However, it only increased shareholding by a small percentage, and it wasn't a huge purchase by absolute value, either. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities. Photo by Gavin Young/Postmedia files. Tourmaline Oil's mailing address is 250 6 Ave SW Suite 3700, CALGARY, AB T2P 3H7, Canada. //= $_COOKIE['currency'] == 'USD' ? Here's a summary of insider transactions this year: On April 17, Janet Weiss, Director, bought 350 shares at C$45.58. Looking for buying opportunities? As of 2023, Mike Rowe net worth is calculated to be around $30 million. Earlier in the year, they paid CA$18.70 per share in a CA$371k purchase. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? What Stock Would You Invest $5,000 in Right Now? Energy Transfer Partners is one North America's largest midstream energy companies, with approximately 120,000 miles of pipelines and energy infrastructure assets located across 41 states. The dividend payout ratio of Tourmaline Oil is 7.63%. In fact, there have been 34 open market buys compared to only 6 sells in that timeframe, according to Nasdaq. 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. 2021 average. Insiders have purchased 14.86 million shares. This week Michael (Mike) Rose, Chairman, President, and Chief Executive Officer of Tourmaline joins us as our guest. 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. Entering text into the input field will update the search result below. I wrote this article myself, and it expresses my own opinions. 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. With its low-cost structure and diversified marketing exposure, analysts say Tourmaline is well-positioned to generate superior returns. This article by Simply Wall St is general in nature. Eine andere -Site. }, Valuation: Like Tourmaline, Baytex shares look like a bargain here. Get in touch with us directly. Since then, TOU shares have decreased by 10.9% and is now trading at C$60.87. Mathematician and author Hannah Fry investigates patterns in human behavior, AI and the creative ideas behind the organizations and pioneers transforming society. In fact, the recent purchase by Chairman of the Board Michael Rose was not their only acquisition of Tourmaline Oil shares this year. 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. { Wallmine is a radically better financial terminal. 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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. Although it's not the only criteria to consider when evaluating a company, tracking and analyzing insider activity has proven valuable. 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. Tourmaline is part of the Electricity, Oil & Gas industry, and located in Canada. (844) 978-6257. "width": "100%", Perpetual Energy's chief executive officer was Susan Riddell Rose, Michael Rose's wife. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. What is Tourmaline Oil's stock price forecast for 2023? 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. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. View our TOU earnings forecast. As a Master Limited Partnership ("MLP"), Energy Transfer also benefits from certain tax advantages. Tourmaline Oil's stock was trading at C$68.32 at the beginning of the year. { Please log in to your account or sign up in order to add this asset to your watchlist. Visit our Community Guidelines for more information and details on how to adjust your email settings. Seven years on, he's at it again.. { Mr. Rose was educated at Queen's University, graduating with an honours degree in Geology. 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. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. "s": "TVC:UKOIL", Get daily stock ideas from top-performing Wall Street analysts. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. 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. 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. Tourmaline has also hiked its regular quarterly dividend by 41% over the last 12 months. While there are numerous reasons for insiders to sell company shares, there is typically only one reason they buy. }, With Fed Decision Looming, Economy and Markets Wait Google Stock Concerned About AI? The official website for the company is www.tourmalineoil.com. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. This payout ratio is at a healthy, sustainable level, below 75%. "As technology evolves, we're doing things we've never been able to do. Access articles from across Canada with one account. Read more about cookies here. Michael Rose has been working as a Chairman, President & Chief Executive Officer at Tourmaline for 21 years. Michael Rose is 62, he's been the Chairman of the Board, President, Chief Executive Officer, and Director of Tourmaline Oil since 2008. Mr. Kirker has practiced law for more than 30 years in various capacities. "plotLineColorGrowing": "rgba(15, 164, 207, 1)", Energy Transfer is currently paying out $1.23 annualized (back to its payout levels before the pandemic hit), after its recent distribution increase. Support local journalists and the next generation of journalists. list of growing companies that insiders are buying. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. Tourmaline Oil (TSE:TOU) has a market capitalization of C$20.63 billion and generates C$7.10 billion in revenue each year. Why Tourmaline Oil Stock Just Fell to 52-week Lows? ", "dateRange": "12M", Many might not know this, but this man is also a professional voice-over artist. 'active' : 'js-change-currency' ?> //= plugin_dir_url( __FILE__ ) . Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. ("Duvernay"), a publicly traded oil and gas company (2004-2008).
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