//= $_COOKIE['currency'] == 'USD' ? 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. 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. Tourmaline Oil Corp., Canada's 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. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. 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. } 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. Distribution: One of the key reasons to invest in its stock is for its distribution. Should You Be Too? We encountered an issue signing you up. When is Tourmaline Oil's next earnings date? Tourmaline Location 250-6th Ave SW Ste 2900, Calgary, Alberta, T2P 3H7, Canada Description Industry Electricity, Oil & Gas Energy, Utilities & Waste Treatment Looking for buying opportunities? Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. He launched Berkley Petroleum Corp. in 1993 and sold it in early 2001 to Anadarko. Ms. Beck holds a Bachelor of Arts (Economics) degree from the University of British Columbia and a Bachelor of Laws degree from Dalhousie University. 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. 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. Story continues below }, 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. 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. With its low-cost structure and diversified marketing exposure, analysts say Tourmaline is well-positioned to generate superior returns. First, investors should note that the OPEC cuts have not yet taken effect (they begin in May). Tourmaline and Topaz are the third and fourth oil and gas companies that Rose has built into billion-dollar enterprises. Perpetual Energy's chief executive officer was Susan Riddell Rose, Michael Rose's wife. Previously, Mr. Robinson held numerous positions in finance and accounting with intermediate and senior oil and gas companies commencing his career with a large public accounting firm. You probably do not want to miss this free list of growing companies that insiders are buying. 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. 2021 average. In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. 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. Bottom line: Baytex's stock is down 28.59% over the past year, but the worst of it may be behind it. In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. I am not receiving compensation for it (other than from Seeking Alpha). 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. This payout ratio is at a healthy, sustainable level, below 75%. The company currently estimates the move will be 20% accretive to its free cash flow per share, for example. Tourmaline has also hiked its regular quarterly dividend by 41 per cent over the last 12 months. Get MarketBeat All Access Free for 30 Days (Ad), How to Invest in the Top Grocery Stocks for This Year, Array Technologies Brings Solar Flare To 2023 Earnings Forecast, Best Bank Stocks to Invest in Ahead of Rising Interest Rates, Mondelez International Pricing Power Takes It To New Highs, Dont Chase Church & Dwight Higher; Let The Price Come To You, Rollins Pest Control Needs to be in Your Watchlist, Demand For Public Safety Technologies Drives Motorola's Growth, Tourmaline Oil: Top 25 Undervalued Toronto Stock Exchange Stocks (TOU), Tourmaline Oil Corp. (TSE:TOU) Receives C$84.44 Average Price Target from Brokerages, Get MarketBeat All Access Free for 30 Days, Bullish insiders bet CA$9.2m on Tourmaline Oil Corp. (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. Tourmaline Oil's stock was trading at C$68.32 at the beginning of the year. 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. Insiders from multiple oil & gas companies have been using the recent market downturn as a buying opportunity, acquiring shares of their own companies. Don't miss this opportunity to take control of your investment strategy and grow your wealth subscribe now! Tourmaline Oil (TSE:TOU) has a market capitalization of C$20.63 billion and generates C$7.10 billion in revenue each year. Vice President, Finance & Chief Financial Officer. Insiders have been buying shares at three oil & gas companies lately. As such, the business plan remains strong from a strategic and tactical perspective.. Watch: Tourmaline Oil CEO Michael Rose on building CNG stations with Clean Energy Fuels in Western Canada. There are currently 6 buy ratings and 1 strong buy rating for the stock. Results for {phrase} ({results_count} of {results_count_total}), Displaying {results_count} results of {results_count_total}. The ex-dividend date of this dividend is Tuesday, March 14th. 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. VP of Fin., CFO & Non-Independent Director. { 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. "symbolActiveColor": "rgba(30, 200, 700, 0.41)", June 14, 2022; utpal parrikar education . High institutional ownership can be a signal of strong market trust in this company. Insiders have purchased 14.86 million shares. { Soaring natural gas prices have propelled Tourmaline Oil Corp. Chief Executive Officer Mike Rose into the ranks of Canadas billionaires. 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. The special dividends have netted Rose almost C$45 million this year. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about Tourmaline Oil. We apologize, but this video has failed to load. Company News. Michael Rose, president and CEO of Tourmaline Oil, spoke with Weekly host Andrew McCreath about his company's outlook on pricing, revenue and cash flow. Sign-up to receive the latest news and ratings for Tourmaline Oil and its competitors with MarketBeat's FREE daily newsletter. Tourmaline Oil has a PEG Ratio of 1.72. Michael Rose has been working as a Chairman, President & Chief Executive Officer at Tourmaline for 21 years. Dividend: One potential downside of owning the stock is the fact that it (currently) does not pay a dividend. View TOU analyst ratings or view top-rated stocks. Ms. Tait has been the Controller of Tourmaline Oil Corp. since September 2015 and was the Manager of Finance prior thereto. "showChart": true, News; Video; Their TOU share price forecasts range from C$70.00 to C$112.00. This article by Simply Wall St is general in nature. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. But Tourmaline ended 2022 with just $494 million in debt. The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 3rd 2023. I discuss oil prices and analyze 3 companies with recent insider buying. 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. Access advanced stock screeners, portfolio monitoring tools, proprietary research reports, and more. The following June, Tourmaline purchased Mapan Energy for CAN$106 million in stock. 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. { Prior to joining Tourmaline, Ms. Beck worked in legal and business development roles at Pembina Pipeline Corporation. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Check out our latest analysis for Tourmaline Oil. Tourmaline is part of the Electricity, Oil & Gas industry, and located in Canada. President, Chief Executive Officer a Director of Tourmaline Oil, the total compensation of Michael Rose at Tourmaline Oil is $3,373,190. Our Posthaste newsletter has all the breaking business news and market signals you need, Our Posthaste newsletter has all the breaking business news you need, My precious: Meet the Canadian natural gas producer that analysts are calling the 'best-in-breed', '50% correction': Why Canada's office real estate sector is heading for a reckoning, How the CRA strike will affect your tax returns, refunds, benefits and more, Quebec faces big electricity shortfall after wooing U.S. to buy cheap hydro power, Why is remote work a major sticking point in PSAC negotiations? We have enabled email notificationsyou will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Join thousands of other investors who make better investing decisions with our premium tools. Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. Odyssey Trust Company1-587-885-0960 (within Canada)1-888-290-1175 (Toll Free). Specifically, they have bought C$588,306.00 in company stock and sold C$0.00 in company stock. 57.64% of the stock of Tourmaline Oil is held by institutions. Mr. Bush holds aBachelors degree in Mining Engineering from Montana College of Mineral Science and Technology, Butte Montana. "isTransparent": false, [Gas in Transition, Volume 2, Issue 5] EnergyNow is an online energy news and data media service dedicated to providing essential up to-date information on the Canadian oil & gas industry. 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. 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. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of $2.90 by $2.99. We start this journey in 1998 with England vs. Argentina, the game that had everything. Valuation: Like Tourmaline, Baytex shares look like a bargain here. Prior to joining Cinch, Ms. Tait was an audit manager at Ernst & Young Chartered Accountants. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. 2022 was a great year for Baytex, as it says it generated record free cash flow of $622 million ($1.11 per share) on the back of strong production of 83,519 boe/d. 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. TSE:TOU opened at C$56.23 on Wednesday. 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. Market Data powered by QuoteMedia. 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. Insider buying: Four separate insiders have purchased C$283,312 worth of stock over the past 12 months, 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. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. 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. 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. 7 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Tourmaline Oil in the last twelve months. In fact, the recent purchase by Chairman of the Board Michael Rose was not their only acquisition of Tourmaline Oil shares this year. This idea was discussed in more depth with members of my private investing community, The Gold Bull Portfolio. Monitor your investments 24 hours a day, around the clock from around the globe. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (Duvernay), a publicly traded oil and gas company (2004-2008). Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. In 2019, Tourmaline spun out its royalty business Topaz Energy Corp., named after another gemstone, which listed on the Toronto Stock Exchange in a $230.5 million offering last year. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities. that you ought to be aware of before buying any shares in Tourmaline Oil. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). The future doesn't just happen, we. 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. Wallmine is a radically better financial terminal. Mike Rose, chairman and chief executive officer of Tourmaline Oil Corp., listens during an interview in New York, U.S., on Thursday, March 12, 2015.

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