mike rose tourmaline net worth

Watch: Tourmaline Oil CEO Michael Rose on building CNG stations with Clean Energy Fuels in Western Canada. Identify stocks that meet your criteria using seven unique stock screeners. Dividend: The company paid a $7.90 per share dividend last year, which equals a trailing yield of 17.56% based on its current stock price of $45. 7 brokers have issued twelve-month target prices for Tourmaline Oil's shares. Tourmaline's management has guided for 2023 production of 520,000 - 540,000 barrels of oil equivalent per day ("BOE/D"). Note: The lower trading volume on the U.S. OTC exchange, and the potential for high trading fees on brokerage accounts, is a risk for U.S. investors to consider. 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. Insider buying: Four separate insiders have purchased C$283,312 worth of stock over the past 12 months, according to MarketBeat. { Odyssey Trust Company1-587-885-0960 (within Canada)1-888-290-1175 (Toll Free). Billionaire Tom Steyer Plans Net Zero Apartment Upgrades Across US. He is also Member of Canadian Society of Petroleum . Tourmaline Oil has received a consensus rating of Buy. Tourmaline Oil is Canada's largest natural gas producer, and a leader in employing technology and innovation to produce ever cleaner natural gas. The combined co. will command a higher market cap ($5 billion), stronger production, more liquidity, and a greater ability to return capital to shareholders. Under recent strip pricing, we see the stock continuing to screen attractive relative to its peers.. That's what I like to see! 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. Prior to joining Tourmaline, Ms. Aspin was a member of the Marketing team at Duvernay Oil Corp. from 2004 until its acquisition in 2008. High institutional ownership can be a signal of strong market trust in this company. To help with this, we've discovered 5 warning signs (1 doesn't sit too well with us!) Mr. McKinnon has served as the Vice President, Operations of Tourmaline Oil Corp. since May 2015. We start this journey in 1998 with England vs. Argentina, the game that had everything. To see all exchange delays and terms of use please see Barchart's disclaimer. Get exclusive access to the National Post ePaper, an electronic replica of the print edition that you can share, download and comment on. CIBC analysts think the primary sector risks are lower commodity prices and rising industry costs. This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. A few of the highlights, Q2. 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. 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. 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. Tourmaline Oil is Canada's largest natural gas producer, and a leader in employing technology and innovation to produce ever cleaner natural gas. 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. 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. Check out our latest analysis for Tourmaline Oil. Its shares now yield 9.78%, as of writing. View TOU analyst ratings or view top-rated stocks. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. }. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008 for $5.9 billion. 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. He started Duvernay Oil Corp. shortly thereafter, eventually selling it to Shell for $5.9 billion in 2008. 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. The information you requested is not available at this time, please check back again soon. 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. Receive TOU Stock News and Ratings via Email. Rose also purchased. Prior thereto, he was Exploration Manager of the Companys NEBC and PRH operating areas, and Senior Geologist at Tourmaline, since February 2009. Get email updates from your favourite authors. Tourmaline still own just over a 50 per cent stake in Topaz. Most recently, Kendall Douglas Arthur, Senior Officer, bought 10,000 shares at C$5.50 (US$4.08) on March 7. Overnight on Wall Street is morning in Europe. Tourmaline Oil pays a meaningful dividend of 1.64%, higher than the bottom 25% of all stocks that pay dividends. Overnight on Wall Street is morning in Europe. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. 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 . I discuss oil prices and analyze 3 companies with recent insider buying. Read our dividend analysis for TOU. According to reliable sources, he means about $5 million to $10 million per year from his endorsements and television endeavors. Prior thereto, he was Completions Manager at Tourmaline since May 2013. And the longer term insider transactions also give us confidence. Tourmaline gained the mineral rights by giving Perpetual Energy about 6.75 million share of Tourmaline stock, worth approximately CAN$256.5 million. In the past three months, Tourmaline Oil insiders have bought more of their company's stock than they have sold. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. Their TOU share price forecasts range from C$70.00 to C$112.00. Company News. 7 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Tourmaline Oil in the last twelve months. The ex-dividend date of this dividend is Tuesday, March 14th. Why Tourmaline Oil Stock Just Fell to 52-week Lows? In fact, the recent purchase by Chairman of the Board Michael Rose was not their only acquisition of Tourmaline Oil shares this year. Please log in to your account or sign up in order to add this asset to your watchlist. Market Data powered by QuoteMedia. Tourmaline Oil (TSE:TOU) has a market capitalization of C$20.63 billion and generates C$7.10 billion in revenue each year. Michael L. Rose founded Tourmaline Oil Corp., Duvernay Oil Corp. and Berkley Petroleum Corp. Mr. Rose holds the position of Chairman, President & Chief Executive Officer of Tourmaline Oil Corp. and Chairman at Topaz Energy Corp. (a subsidiary of Tourmaline Oil Corp.). On April 17, Janet Weiss, Director, bought 350 shares at C$45.58. { According to the International Energy Agency's (IEA), Finally, remember that the U.S. has stated it intends to refill the. We provide live feeds designed to help energy professionals, field personnel, business owners, and senior business leaders get the latest energy news and data, energy industry press releases and energy job and event listings. Tourmaline had net income in the last three months of 2020 of $629 million, more than 10 times the $61.3 million it reported in the same period of 2019. Don't miss this opportunity to take control of your investment strategy and grow your wealth subscribe now! CIBC Capital Market has a $47.50 price target for the stock with an outperform rating. Without further ado, here are three oil & gas stocks that have recently experienced recent insider buying. At the 2022 Canada Energy Assembly and Dinner, Mike Rose, President and CEO of Tourmaline Oil Corp, was presented with the Lifetime Achievement Award, sponso. 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. How often does Tourmaline Oil pay dividends? Mr. Bush is the Chief Operating Officer of Tourmaline Oil Corp., a position he has held since April 2014. 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. If you don't see it, please check your junk folder. The company earns C$4.49 billion in net income (profit) each year or C$13.10 on an earnings per share basis. In-depth profiles and analysis for 20,000 public companies. Daily puzzles including the New York Times Crossword. Prior to joining Cinch, Ms. Tait was an audit manager at Ernst & Young Chartered Accountants. Last updated: 1 April 2023 at 11:00am EST. EnergyNow is an online energy news and data media service dedicated to providing essential up to-date information on the Canadian oil & gas industry. 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. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). We currently account for open market transactions and private dispositions, but not derivative transactions. What other stocks do shareholders of Tourmaline Oil own? I have no business relationship with any company whose stock is mentioned in this article. 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. Mr. Mr. Mike Rowe has a net worth of $30 million in 2023. Although it's not the only criteria to consider when evaluating a company, tracking and analyzing insider activity has proven valuable. that you ought to be aware of before buying any shares in Tourmaline Oil. (Natural) gas demand just keeps building, Rose said. 911 lone star season 1 episode 1 watch online. Tourmaline has also hiked its regular quarterly dividend by 41 per cent over the last 12 months. First, investors should note that the OPEC cuts have not yet taken effect (they begin in May). You probably do not want to miss this free list of growing companies that insiders are buying. 326 E 8th St #105, Sioux Falls, SD 57103 Seven years on, he's at it again.. What is Tourmaline Oil's stock price today? 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All rights reserved. Many might not know this, but this man is also a professional voice-over artist. National Bank analyst Dan Payne calls the company stock best in breed, noting that the company has structurally gapped away from the peers, which should continue to yield outsized returns and value.. "symbolActiveColor": "rgba(30, 200, 700, 0.41)", He founded Berkley Petroleum Corp. in 1993 and sold it to Anadarko Petroleum in 2001 before starting Duvernay Oil Corp., which he sold to Shell Canada Ltd. for $5.9 billion in 2008. Story continues below 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. I am here with Mike Rose, Tourmaline's President and Chief Executive Officer; Brian Robinson, Vice President of Finance and Chief Financial Officer; and Jamie Heard, Tourmaline's Senior. But the company does carry quite a bit of debt. 57.64% of the stock of Tourmaline Oil is held by institutions. And recently, Baytex announced $800 million in unsecured notes, not due until 2030, to fund its merger with Ranger Oil (expected to close in Q2). Monitor your investments 24 hours a day, around the clock from around the globe. On March 7 and 13, Mike Rose, Senior Officer, bought a combined 10,000 shares at C$55.70 and C$58.77. What is the dividend yield for Tourmaline Oil? 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. Ms. Beck holds a Bachelor of Arts (Economics) degree from the University of British Columbia and a Bachelor of Laws degree from Dalhousie University. PEG Ratios above 1 indicate that a company could be overvalued. But over a five-year period, the stock has only edged up 0.15 per cent. Michael Rose has been working as a Chairman, President & Chief Executive Officer at Tourmaline for 21 years. 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. Our daily ratings and market update email newsletter. He founded Berkley Petroleum Corp. in 1993 and sold it to Anadarko Petroleum in 2001 before starting Duvernay Oil Corp., which he sold to Shell Canada Ltd. for C$5.9 billion in 2008. "s": "TVC:USOIL+NYMEX:ICL1! With Fed Decision Looming, Economy and Markets Wait Google Stock Concerned About AI? Michael Rose Net Worth Michael Rose biography. Get daily stock ideas from top-performing Wall Street analysts. 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.. 2021 average. 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. Access advanced stock screeners, portfolio monitoring tools, proprietary research reports, and more. The special dividends have netted Rose almost $45 million this year. See what's happening in the market right now with MarketBeat's real-time news feed. 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. As of 2023, Mike Rowe net worth is calculated to be around $30 million. How many employees does Tourmaline Oil have? Create an account or sign in to continue with your reading experience. Ms. Tait has been the Controller of Tourmaline Oil Corp. since September 2015 and was the Manager of Finance prior thereto. Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. 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. "s": "USOIL", "belowLineFillColorGrowing": "rgba(41, 98, 255, 0.12)", Tourmaline Oil has only been the subject of 2 research reports in the past 90 days. Get in touch with us directly. Monitor your investments 24 hours a day, around the clock from around the globe. He launched Berkley Petroleum Corp. in 1993 and sold it in early 2001 to Anadarko. Entering text into the input field will update the search result below. The company's average rating score is 3.14, and is based on 6 buy ratings, no hold ratings, and no sell ratings. 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. 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. 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. All Rights Reserved. "d": "WCS Heavy" Is this happening to you frequently? Here's why Energy Transfer looks like an attractive investment opportunity. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. ("Duvernay"), a publicly traded oil and gas company (2004-2008). June 14, 2022; utpal parrikar education . The companys earnings in the first quarter were lifted on non-cash gains of $321 million, topping analyst expectations, and modestly raised its capex to $1.27 billion this year. The dividend payout ratio of Tourmaline Oil is 7.63%. "tabs": [ Tourmaline Oil Corp. has a . "d": "CDN Light Sweet" This suggests a possible upside of 38.7% from the stock's current price. That gives the company enormous financial flexibility - it can ramp up its shareholder returns via increased dividends and buybacks, or use its firepower to complete accretive deals, should it desire to, for example. Ms. Aspin holds a Bachelor of Commerce degree from the University of Saskatchewan. Several members of the leadership team have been with Rose at all three companies. With its low-cost structure and diversified marketing exposure, analysts say Tourmaline is well-positioned to generate superior returns. With over a decade of experience in the investment industry, I am a highly skilled private investor with a proven track record of success in the commodities and hard assets sector. 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. 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. Tourmaline is part of the Electricity, Oil & Gas industry, and located in Canada. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. "belowLineFillColorFallingBottom": "rgba(41, 98, 255, 0)", Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. Rose owns a 0.4% stake in Topaz, worth about C$12 million. 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. Tourmaline Oil trades on the Toronto Stock Exchange (TSX) under the ticker symbol "TOU.". Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. Additionally, its shares look even more attractive looking out 12 months, as it carries a forward P/E of just 6.86, according to Yahoo Finance. Export data to Excel for your own analysis. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Wallmine is a radically better financial terminal. Sign-up to receive the latest news and ratings for Tourmaline Oil and its competitors with MarketBeat's FREE daily newsletter. First, they announced a partnership on a compressed natural gas (CNG) fueling station network across Western Canada to enable heavy-haul trucks to get off diesel. Second, expect a big oil deficit in H2 2023. Ms. Aspin joined Tourmaline Oil Corp. in 2009 and was appointed Vice President, Marketing in September 2017. We encountered an issue signing you up. The consensus among Wall Street research analysts is that investors should "buy" TOU shares. Mr. Frostad holds a Master of Science (Geology) and Bachelor of Science (Geology) from the University of Calgary. Tourmaline Oil's mailing address is 250 6 Ave SW Suite 3700, CALGARY, AB T2P 3H7, Canada. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Is the stock too good to be true? } The White Oak Shortage That Could Ruin the Bourbon Industry, First Republic Seized by Regulators, to Be Sold to JPMorgan, Australias Rapid Fiscal Revival Brings Budget Surplus in View, Goldman, Bank of America Slightly Push Back Call for BOJ Move, Kings Coronation Holiday Provides Latest Drag for UK Economy, Chinas Midea Said to Make Takeover Approach to Electrolux, Bank Failures, Broken Markets Loom Over Milkens Capitalist Utopia, AI Chatbots Have BeenUsed to Create Dozens of News Content Farms, Tech, AI Driving Job Changes for Nearly a Quarter of All Workers, Jack Ma Joins University of Tokyo as Visiting Professor, Singapore Voices Grave Concern Over South China Sea Tensions, Peter Thiel Tells Black-Tie NYC Audience That Diversity Is a Distraction, What You Need to Know About the Biden Administrations New Mortgage Fees, Russias Most Famous Fashion Designer, Who Dressed First Ladies, Dies at 85, Pope voices willingness to return Indigenous loot, artifacts, The Slow Dance Between Markets and Central Banks, The Oil Industrys Unhappy Marriage Is Starting To Face Facts, Dont Make It Too Hard for Americans to Investin China, The Boring Old Box Truck Gets the Tesla Treatment, For Banks Under Stress, Theres a Federal Backstop That Provides Help Without Stigma, What the US Can Learn From Europes ESG Mistakes, UKs Diverse Communities Ambivalent About Kings Coronation, Japan Coalition Party Says More Handouts for Kids Top Priority, What to Know About Red-Flag Warnings, an Ominous WildfireForecast, Occidental Hopes to Sell the Carbon It Capturesat the Worlds Biggest Plant, Germany Sets the New Standard for Cheap, National Mass Transit, Chinas Now Spurning Ugliest Buildings That Symbolized Its Meteoric Rise, Broke Chinese Gen Zs Turn Factory Town into Top Tourist Spot, Nigerias SEC Plans to Allow Asset-Backed Tokens But Not Crypto, Bitcoin Sags After its Longest Streak of Monthly Gains Since 2021, Bitcoin on Course for Longest Streak of Monthly Gains Since 2021, Chairman/Pres/CEO/Founder, Tourmaline Oil Corp. The following June, Tourmaline purchased Mapan Energy for CAN$106 million in stock. He is a member of the Association of Professional Engineers and Geoscientists of Alberta and the Canadian Society of Petroleum Geologists. Tourmaline Oil Trading Up 1.9 %. Unlimited online access to articles from across Canada with one account. Insiders from multiple oil & gas companies have been using the recent market downturn as a buying opportunity, acquiring shares of their own companies. Analysts Disclosure: I/we have a beneficial long position in the shares of TRMLF either through stock ownership, options, or other derivatives. Mr. Kirker has practiced law for more than 30 years in various capacities. That means that an insider was happy to buy shares at around the current price of CA$22.83. But Tourmaline ended 2022 with just $494 million in debt. With its low-cost structure and diversified marketing exposure, CIBC Capital Market analysts say Tourmaline is well-positioned to generate superior returns at a range of natural gas price assumptions.

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