Access articles from across Canada with one account. "showFloatingTooltip": true, FourFourTwo Films is celebrating the last 20 years of World Cup history through a game, a player, a moment, a team and a goal all that makes the World Cup great. The special dividends have netted Rose almost $45 million this year. A welcome email is on its way. Prior to March 2013, he served as Completions and Operations Engineering Manager of Tourmaline since 2009. If you don't see it, please check your junk folder. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. Its earnings are supported by its "fee-based" contracts it has signed with its clients. 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 billion from $662 million since the beginning of this year. View TOU analyst ratings or view top-rated stocks. We start this journey in 1998 with England vs. Argentina, the game that had everything. 2021 average. "showChart": true, 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. 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. "symbols": [ Please log in to your account or sign up in order to add this asset to your watchlist. It also carries a book value per share of $5.56, higher than its current stock price. 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. Rose owns a 0.4 per cent stake in Topaz, worth about $12 million. Get short term trading ideas from the MarketBeat Idea Engine. that you ought to be aware of before buying any shares in Tourmaline Oil. Watch: Tourmaline Oil CEO Michael Rose on building CNG stations with Clean Energy Fuels in Western Canada. He launched Berkley Petroleum Corp. in 1993 and sold it in early 2001 to Anadarko. Only 5.47% of the stock of Tourmaline Oil is held by insiders. 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? When is Tourmaline Oil's next earnings date? Watch the video above to hear more of Roses conversation with Andrew McCreath. { Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. Mr. Tumbach holds a Bachelor of Commerce degree from the University of Calgary and isa Member of the Canadian Association of Petroleum Landmen. 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. There are 1 executives at Tourmaline Oil getting paid more, . Tourmaline is Canada's largest natural gas producer and its fourth-largest gas processing midstream operator. This payout ratio is at a healthy, sustainable level, below 75%. On March 7 and 13, Mike Rose, Senior Officer, bought a combined 10,000 shares at C$55.70 and C$58.77. Vice President, Finance & Chief Financial Officer. The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 3rd 2023. The next issue of FP Investor will soon be in your inbox. which phrase signals a contrast between ideals about marriage 304-539-8172; one level homes in clemmons, nc [email protected] 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. 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). There was an error, please provide a valid email address. We start this journey in 1998 with England vs. Argentina, the game that had everything. "belowLineFillColorGrowing": "rgba(41, 98, 255, 0.12)", Since then, TOU shares have decreased by 10.9% and is now trading at C$60.87. On January 23 and 25, Jill Angevine, Director, bought 1,120 shares at C$62.63 and C$65.94. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. In Conversation: Mike Rose, CEO, Tourmaline Oil [Gas In Transition] (Natural) gas demand just keeps building, Rose said. 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.. 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. Tourmaline gained the mineral rights by giving Perpetual Energy about 6.75 million share of Tourmaline stock, worth approximately CAN$256.5 million. 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. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? The company currently estimates the move will be 20% accretive to its free cash flow per share, for example. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. On average, they expect the company's stock price to reach C$84.44 in the next twelve months. Michael Rose Net Worth (2023) | wallmine "locale": "en", 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. 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). That means that an insider was happy to buy shares at around the current price of CA$22.83. However, it only increased shareholding by a small percentage, and it wasn't a huge purchase by absolute value, either. 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 hisdeath in 2018. 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. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. We currently account for open market transactions and private dispositions, but not derivative transactions. A high insider ownership often makes company leadership more mindful of shareholder interests. 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. But over a five-year period, the stock has only edged up 0.15 per cent. The company-specific risks to achieving its price target include infrastructure constraints that may limit Tourmalines ability to tie-in new production and changes to production deliverability assumptions (i.e., initial production rates and production declines) on Tourmalines undeveloped assets.. Tourmaline Oil CEO Michael Rose on his energy company's outlook Tourmaline and Topaz are the third and fourth oil and gas companies that Rose has built into billion-dollar enterprises. Sign-up to receive the latest news and ratings for Tourmaline Oil and its competitors with MarketBeat's FREE daily newsletter. 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. Tourmaline Location 250-6th Ave SW Ste 2900, Calgary, Alberta, T2P 3H7, Canada Description Industry Electricity, Oil & Gas Energy, Utilities & Waste Treatment Read our dividend analysis for TOU. Popular online brokerages with access to the Canadian stock market include BMO InvestorLine, CIBC Investor's Edge, Desjardins Online Brokerage, HSBC InvestDirect, Laurentian Bank Discount Brokerage, National Bank Direct Brokerage, Qtrade Investor, Questrade, RBC Direct Investing, Scotia iTrade, TD Direct Investing, and Virtual Brokers.Compare Top Brokerages Here. Tourmaline Oil trades on the Toronto Stock Exchange (TSX) under the ticker symbol "TOU.". Tourmaline Oil Corp. (TRMLF) CEO Michael Rose on Q4 2021 Results Its shares carry a P/E of 3.49 (below the sector median of 7.59), and an EV/EBITDA of 2.76 (vs. 5.53 sector median), according to data from Seeking Alpha. In many cases, I've found that insiders have (mostly) timed their purchases wisely. 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But the company does carry quite a bit of debt. Valuation: Energy Transfer looks like a reasonably priced MLP, with a P/E of 9, an EV/EBITDA of 7, and a price-to-sales of .44. The company was incorporated in 2008 and is headquartered in Calgary, Canada. The stock is a high-yielder that should continue to pump out consistent distributions every quarter, and its near-10% yield looks sustainable, despite the company's debt load. 7 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Tourmaline Oil in the last twelve months. 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.