on October 21, 2023
Sign-up to receive the latest news and ratings for Tourmaline Oil and its competitors with MarketBeat's FREE daily newsletter. Tourmaline and Topaz are the third and fourth oil and gas companies that Rose has built into billion-dollar enterprises. Tourmaline made some exciting announcements last week. And, it expects to end the year with a cash positive position. 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. When is Tourmaline Oil's next earnings date? Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. The official website for the company is www.tourmalineoil.com. Read our dividend analysis for TOU. Monitor your investments 24 hours a day, around the clock from around the globe. 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. [Gas in Transition, Volume 2, Issue 5] }, CEO is the third-largest shareholder of Canada gas producer, TD gives stock its only hold rating on stretched valuation. Tourmaline Oil Corp. (TRMLF) CEO Michael Rose on Q4 2021 Results Mike Rowe Wife, Kids, Age, Height, Movies, Net Worth, Instagram mike rose tourmaline net worth - marconasedkin.de 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. Tourmaline Oil insiders own about CA$497m worth of shares (which is 7.0% of the company). 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). Michael Rose, CEO of Tourmaline OIl Corp. Photo by Jim Wells/Postmedia. Guests watch a video detailing the announcement of a $70 million joint development agreement between Tourmaline Oil Corp. and Clean Energy Fuels Corp. to build CNG stations in Western Canada. { Results for {phrase} ({results_count} of {results_count_total}), Displaying {results_count} results of {results_count_total}. It's certainly positive to see the recent insider purchases. Prior to joining Cinch, Ms. Tait was an audit manager at Ernst & Young Chartered Accountants. Daily puzzles including the New York Times Crossword. Read our dividend analysis for TOU. 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. Officers | Tourmaline Oil Mr. Frostad holds a Master of Science (Geology) and Bachelor of Science (Geology) from the University of Calgary. Michael Rose Net Worth (2023) | wallmine CA On April 17, Janet Weiss, Director, bought 350 shares at C$45.58. To help with this, we've discovered 5 warning signs (1 doesn't sit too well with us!) Tourmaline Oil's (TRMLF) CEO Mike Rose on Q2 2021 Results - SeekingAlpha 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. American Consumer News, LLC dba MarketBeat 2010-2023. ", While Baytex appears to be highly leveraged with close to $1 billion in debt, investors should note that $410 million of this debt does not mature until 2027. Mr. Rose was educated at Queen's University, graduating with an honours degree in Geology. Mr. Bush holds aBachelors degree in Mining Engineering from Montana College of Mineral Science and Technology, Butte Montana. Wallmine is a radically better financial terminal. 7 brokers have issued twelve-month target prices for Tourmaline Oil's shares. 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. Energy Transfer is currently paying out $1.23 annualized (back to its payout levels before the pandemic hit), after its recent distribution increase. Michael Rose has been working as a Chairman, President & Chief Executive Officer at Tourmaline for 21 years. Insiders from multiple oil & gas companies have been using the recent market downturn as a buying opportunity, acquiring shares of their own companies. 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. 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. (Natural) gas demand just keeps building, Rose said. Ms. Beck holds a Bachelor of Arts (Economics) degree from the University of British Columbia and a Bachelor of Laws degree from Dalhousie University. "isTransparent": false, Bullish insiders bet CA$9.2m on Tourmaline Oil Corp. (TSE:TOU) For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. How often does Tourmaline Oil pay dividends? President, Chief Executive Officer a Director of Tourmaline Oil, the total compensation of Michael Rose at Tourmaline Oil is $3,373,190. That'll likely change following closure of the Ranger Oil transaction, but it's something to consider when evaluating your current investment options. 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. Analysts Disclosure: I/we have a beneficial long position in the shares of TRMLF either through stock ownership, options, or other derivatives. Oil prices surged to $80/barrel earlier this month following OPEC's unexpected production cuts. Many might not know this, but this man is also a professional voice-over artist. It's a proven operator with strong, diversified production in North America, low cash costs, and one of the strongest balance sheets in the oil & gas sector. "title": "Commodities", What is Tourmaline Oil's stock price forecast for 2023? 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. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Michael Rose, president and CEO of Tourmaline Oil, spoke with Weekly host Andrew McCreath about his companys outlook on pricing, revenue and cash flow. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Mr. Tumbach has been the Vice President, Land and Contracts of Tourmaline Oil Corp. since 2008. { There are 1 executives at Tourmaline Oil getting paid more, with Michael L. Rose having the highest compensation of $3,483,282. Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. Should You Be Too? While there are numerous reasons for insiders to sell company shares, there is typically only one reason they buy. "showSymbolLogo": true, Under recent strip pricing, we see the stock continuing to screen attractive relative to its peers.. 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. But the company does carry quite a bit of debt. We start this journey in 1998 with England vs. Argentina, the game that had everything. In Conversation: Mike Rose, CEO, Tourmaline Oil [Gas In Transition] Prior to joining Tourmaline, Ms. Aspin was a member of the Marketing team at Duvernay Oil Corp. from 2004 until its acquisition in 2008. Bottom line: Tourmaline is one of the lowest-risk energy stocks I've analyzed. Prior thereto, he wasVice President, Land and Contractsat Berkley Petroleum Corp. until it was acquired in 2001. Mr. Mike Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. I have no business relationship with any company whose stock is mentioned in this article. "belowLineFillColorFallingBottom": "rgba(41, 98, 255, 0)", No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Mr. Rose said an $8-million investment in the project has already saved Tourmaline more than $25-million in fuel costs. "belowLineFillColorGrowing": "rgba(41, 98, 255, 0.12)", Mr. Frostad has served as the Vice President, Exploration of Tourmaline Oil Corp. since November 2019. Most recently, Kendall Douglas Arthur, Senior Officer, bought 10,000 shares at C$5.50 (US$4.08) on March 7. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. Access articles from across Canada with one account. Why Tourmaline Oil Stock Just Fell to 52-week Lows? Concerned about the content? 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. 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. As the Director of Paramount Resources, the total compensation of Susan Rose at Paramount Resources is CAD$70,000. Real-time analyst ratings, insider transactions, earnings data, and more. 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. Tourmaline continues buying spree in Montney with $750-million deal for After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008 for $5.9 billion. "height": "500", Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). Energy Transfer is definitely a lower-risk bet in the oil & gas sector due to these fee-based contracts, as its earnings are not as affected by commodity price fluctuations. Ms. Aspin holds a Bachelor of Commerce degree from the University of Saskatchewan. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. Market Data powered by QuoteMedia. Comments may take up to an hour for moderation before appearing on the site. The dividend payout ratio is 7.63%. If you have an ad-blocker enabled you may be blocked from proceeding. He is also Member of Canadian Society of Petroleum . Simply Wall St has no position in any stocks mentioned.Have feedback on this article? Tourmaline CEO Mike Rose is building an oil company for a post-oil era Without further ado, here are three oil & gas stocks that have recently experienced recent insider buying. Chris Bolin/The Globe and Mail Tourmaline is part of the Electricity, Oil & Gas industry, and located in Canada. Tourmaline Enters Long-Term LNG Export Marketing Arrangement With However, oil prices have since declined, nearly erasing the gains from OPEC's decision. In many cases, I've found that insiders have (mostly) timed their purchases wisely.
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