Here's why Energy Transfer looks like an attractive investment opportunity. "belowLineFillColorGrowingBottom": "rgba(41, 98, 255, 0)", 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. American Consumer News, LLC dba MarketBeat 2010-2023. "gridLineColor": "rgba(42, 46, 57, 0)", As such, the business plan remains strong from a strategic and tactical perspective.. 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. Mr. Our daily ratings and market update email newsletter. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Last year, the company, led by Michael Rose, made four acquisitions valued at a total of $795 million. Stockholders of record on Wednesday, March 15th will be given a dividend of 0.25 per share on Friday, March 31st. Tourmaline Oil does not have a long track record of dividend growth. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. Mr. Frostad has served as the Vice President, Exploration of Tourmaline Oil Corp. since November 2019. Tourmaline, led by chief executive officer Mike Rose, is buying Black Swan Ltd. for about $750-million in stock. I am not receiving compensation for it (other than from Seeking Alpha). This suggests a possible upside of 38.7% from the stock's current price. Tourmaline is part of the Electricity, Oil & Gas industry, and located in Canada. Michael L. Rose serves as Chairman of the Board, President, Chief Executive Officer, . Prior to joining Tourmaline, Mr. Frostad served as Geologist at Duvernay Oil Corp until its acquisition in 2008. 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. 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. View our TOU earnings forecast. Mr. In the past three months, Tourmaline Oil insiders have bought more of their company's stock than they have sold. 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. Mr. Tumbach holds a Bachelor of Commerce degree from the University of Calgary and isa Member of the Canadian Association of Petroleum Landmen. The information you requested is not available at this time, please check back again soon. Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Is the stock too good to be true? The next issue of FP Investor will soon be in your inbox. Michael Rose is 62, he's been the Chairman of the Board, President, Chief Executive Officer, and Director of Tourmaline Oil since 2008. Most recently, Kendall Douglas Arthur, Senior Officer, bought 10,000 shares at C$5.50 (US$4.08) on March 7. Results for {phrase} ({results_count} of {results_count_total}), Displaying {results_count} results of {results_count_total}. Prior to joining Cinch, Ms. Tait was an audit manager at Ernst & Young Chartered Accountants. Michael Rose, president and CEO of Tourmaline Oil, . 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. { And, it expects to end the year with a cash positive position. Tourmaline has also hiked its regular quarterly dividend by 41% over the last 12 months. Why Tourmaline Oil Stock Just Fell to 52-week Lows? In this case we're pleased to report that the insider purchases were made at close to current prices. Valuation: Like Tourmaline, Baytex shares look like a bargain here. 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.. 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%). 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. }. "title": "Commodities", Mr. Rose is a member of the Association of Professional Engineers and Geoscientists of Alberta and the Canadian Society of Petroleum Geologists. Although it's not the only criteria to consider when evaluating a company, tracking and analyzing insider activity has proven valuable. 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. Michael Rose has been working as a Chairman, President & Chief Executive Officer at Tourmaline for 21 years. Export data to Excel for your own analysis. This should lead to annual operating cash flow just shy of $4 billion and free cash flow of $2 billion, according to company estimates published at its corporate presentation. View the best growth stocks for 2023 here. View TOU analyst ratings or view top-rated stocks. Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. If you have an ad-blocker enabled you may be blocked from proceeding. Please be aware of the risks associated with these stocks. Join the exclusive community of smart investors who trustThe Gold Bull for expert analysis on all commodity stocks! The dividend payout ratio is 7.63%. Tourmaline and Topaz are the third and fourth oil and gas companies that Rose has built into billion-dollar enterprises. In many cases, I've found that insiders have (mostly) timed their purchases wisely. What Stock Would You Invest $5,000 in Right Now? Oil prices surged to $80/barrel earlier this month following OPEC's unexpected production cuts. How many employees does Tourmaline Oil have? Mr. Robinson holds a Bachelor of Commerce degree from the University of Calgary and is a Chartered Accountant. 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. 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. 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. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. 7 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Tourmaline Oil in the last twelve months. Its earnings are supported by its "fee-based" contracts it has signed with its clients. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Please log in to your account or sign up in order to add this asset to your watchlist. Ms. Tait obtained her Chartered Accountant designation in 2003 and her Bachelor of Commerce in 2001 from the University of Calgary. list of growing companies that insiders are buying. Read more about cookies here. I detail the insider transactions, provide an overview of each company and its valuation, and offer a bottom line for investors. "s": "USOIL", "scaleFontColor": "rgba(120, 123, 134, 1)", Mike Rose, Tourmaline's president and CEO, said: "Our long-term supply agreement with Cheniere is the next important step in [the company's] evolving market diversification . 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).
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