In the past three months, Tourmaline Oil insiders have bought more of their company's stock than they have sold. There are 1 executives at Tourmaline Oil getting paid more, . Tourmaline Oil CEO says oil patch acquisition environment still We aim to bring you long-term focused analysis driven by fundamental data. 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. 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. After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008 for $5.9 billion. But over a five-year period, the stock has only edged up 0.15 per cent. I detail the insider transactions, provide an overview of each company and its valuation, and offer a bottom line for investors. Unauthorized distribution, transmission or republication strictly prohibited. Natural gas stations coming soon to Canada | Financial Post Access advanced stock screeners, portfolio monitoring tools, proprietary research reports, and more. However, the company issued a $2/share special dividend earlier this year, and it's highly likely the company issues another special dividend again this year, based on its past track record. We encountered an issue signing you up. Tourmaline continues buying spree in Montney with $750-million deal for 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. Prior thereto, he was the Manager, Corporate Affairs atDuvernay Oil Corp., until its acquisition in 2008 for $5.9 billion. "showFloatingTooltip": true, He is a member of the Association of Professional Engineers and Geoscientists of Alberta, Engineers and Geoscientists British Columbia and the Canadian Society of Petroleum Geologists. 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. Directors | Tourmaline Oil Photo by Gavin Young/Postmedia files. All Rights Reserved. Tourmaline Oil Trading Up 1.9 %. 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. Rose also purchased 5,000 shares at C$62.77 on January 25. Although it's not the only criteria to consider when evaluating a company, tracking and analyzing insider activity has proven valuable. Michael Rose has been working as a Chairman, President & Chief Executive Officer at Tourmaline for 21 years. To see all exchange delays and terms of use please see Barchart's disclaimer. "belowLineFillColorGrowing": "rgba(41, 98, 255, 0.12)", What is Tourmaline Oil's stock price forecast for 2023? I have no business relationship with any company whose stock is mentioned in this article. Sign-up to receive the latest news and ratings for Tourmaline Oil and its competitors with MarketBeat's FREE daily newsletter. The company essentially transports various commodities across the country, namely, crude oil (17% of its adjusted EBITDA), natural gas and refined products (23%), and midstream (nat gas, crude oil, and nat gas liquids (25%). Mr. Frostad holds a Master of Science (Geology) and Bachelor of Science (Geology) from the University of Calgary. Wallmine is a radically better financial terminal. The bottom line: Investors who can stomach the short-term volatility and the possibility of lower oil & gas prices this quarter may be rewarded handsomely in H2 2023 and beyond. Second, expect a big oil deficit in H2 2023. 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. Ms. Beck has been the Corporate Secretary of Tourmaline Oil Corp. since March 2021 and the Associate General Counsel of the Company since 2017. Tourmaline Surge Propels Mike Rose's Stake Past C$1 Billion 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. Tourmaline Oil insiders own about CA$497m worth of shares (which is 7.0% of the company). Bullish insiders bet CA$9.2m on Tourmaline Oil Corp. (TSE:TOU) There are 1 executives at Tourmaline Oil getting paid more, with Michael L. Rose having the highest compensation of $3,483,282. Tourmaline is part of the Electricity, Oil & Gas industry, and located in Canada. That's what I like to see! Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. "s": "OANDA:NATGASUSD", Several members of the leadership team have been with Rose at all three companies. Stockholders of record on Wednesday, March 15th will be given a dividend of 0.25 per share on Friday, March 31st. Dividend: One potential downside of owning the stock is the fact that it (currently) does not pay a dividend. Ms. Aspin joined Tourmaline Oil Corp. in 2009 and was appointed Vice President, Marketing in September 2017. Without further ado, here are three oil & gas stocks that have recently experienced recent insider buying. The company currently estimates the move will be 20% accretive to its free cash flow per share, for example. Mike Rowe Wife, Kids, Age, Height, Movies, Net Worth, Instagram Soaring natural gas prices have propelled Tourmaline Oil Corp. Chief Executive Officer Mike Rose into the ranks of Canadas billionaires. 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 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. There are 1 executives at Tourmaline Oil getting paid more, with Michael L. Rose having the highest compensation of $3,483,282. Valuation: The stock trades at dirt cheap levels, with a P/E ratio of 4.65, and EV/EBITDA of 4.23, both below the sector median. { 326 E 8th St #105, Sioux Falls, SD 57103 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). Oil prices surged to $80/barrel earlier this month following OPEC's unexpected production cuts. Concerned about the content? "belowLineFillColorFallingBottom": "rgba(41, 98, 255, 0)", Tourmaline Oil plans spinoff to help monetize assets - BNN Prior thereto, he wasVice President, Land and Contractsat Berkley Petroleum Corp. until it was acquired in 2001. 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. After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities. Oil's short-term outlook remains uncertain for these reasons. In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. The company was incorporated in 2008 and is headquartered in Calgary, Canada. 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. 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. . 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. However, it only increased shareholding by a small percentage, and it wasn't a huge purchase by absolute value, either. Support local journalists and the next generation of journalists. This article by Simply Wall St is general in nature. It used its cash flow to focus on reducing its net debt (30% reduction last year, to $987 million) and reward shareholders with an aggressive share buyback (24.3 million shares, of 4.3% of shares outstanding, were repurchased in 2022). 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. 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. Balance sheet strength: Tourmaline has one of the strongest financial positions of any oil & gas stock I've evaluated. 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. Tourmaline Oil insiders may have bought shares in the last year, but they didn't sell any. "showChart": true, { Last updated: 1 April 2023 at 11:00am EST. 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. Ms. Tait has been the Controller of Tourmaline Oil Corp. since September 2015 and was the Manager of Finance prior thereto. 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. Mr. Rose said an $8-million investment in the project has already saved Tourmaline more than $25-million in fuel costs. Rose owns a 0.4% stake in Topaz, worth about C$12 million. Tourmaline Oil's mailing address is 250 6 Ave SW Suite 3700, CALGARY, AB T2P 3H7, Canada. Subscribe now to read the latest news in your city and across Canada. VP of Fin., CFO & Non-Independent Director. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Theme Park Donation Request,
Clare College Cambridge Accommodation Costs,
50 Sunset Terrace Unionville, Ct,
Krystal And Saagar Political Views,
Palisades Tennis Club Membership Fee,
Articles M