mike rose tourmaline net worth

According to the International Energy Agency's (IEA), Finally, remember that the U.S. has stated it intends to refill the. 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). I discuss oil prices and analyze 3 companies with recent insider buying. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. "d": "WCS Heavy" Rose owns a 0.4% stake in Topaz, worth about C$12 million. "s": "OANDA:NATGASUSD", "showFloatingTooltip": true, 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. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. "d": "Brent Crude (UKOIL)" Risks to consider: Energy Transfer has stable, consistent cash flow and earnings from its largely fee-based contracts. Mr. Bush served as Completions and Operations Engineering Manager of Duvernay Oil Corp. until its acquisition in 2008. 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. 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. Second, expect a big oil deficit in H2 2023. Markets never sleep, and neither does Bloomberg News. Their TOU share price forecasts range from C$70.00 to C$112.00. "d": "WTI Crude" Under recent strip pricing, we see the stock continuing to screen attractive relative to its peers.. Why Tourmaline Oil Stock Just Fell to 52-week Lows? Prior thereto, he was Completions Manager at Tourmaline since May 2013. 57.64% of the stock of Tourmaline Oil is held by institutions. 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. The special dividends have netted Rose almost $45 million this year. Tourmaline has also hiked its regular quarterly dividend by 41 per cent over the last 12 months. "d": "NYMEX Natural Gas" Analysts are almost universally bullish on Tourmaline, with 12 buy recommendations and just one hold, from TD Securities analyst Aaron Bilkoski, according to data compiled by Bloomberg. US Property Taxes Rose Twice as Fast Last Year Than in 2021. . But over a five-year period, the stock has only edged up 0.15 per cent. While that sounds like a small percentage, Energy Transfer is a $39 billion company, so it represents a huge investment worth more than $1 billion. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. Check out our latest analysis for Tourmaline Oil. Commodity prices tanking in a worse-than-expected recession, for example, could put pressure on its earnings, and make it harder to service that debt, or at least maintain its distribution payout. He started Duvernay Oil Corp. shortly thereafter, eventually selling it to Shell for $5.9 billion in 2008. When you subscribe today, you'll gain immediate access to my top picks, personal portfolio insights, and in-depth analysis of over 140 stocks. I am not receiving compensation for it (other than from Seeking Alpha). I am not receiving compensation for it (other than from Seeking Alpha). There are 1 executives at Tourmaline Oil getting paid more, with Michael L. Rose having the highest compensation of $3,483,282. View analysts price targets for TOU or view top-rated stocks among Wall Street analysts. "s": "USOIL", 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. How were Tourmaline Oil's earnings last quarter? 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. Mr. Rose was educated at Queen's University, graduating with an honours degree in Geology. The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 3rd 2023. Mr. Rose said an $8-million investment in the project has already saved Tourmaline more than $25-million in fuel costs. I have no business relationship with any company whose stock is mentioned in this article. 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. }, It's certainly positive to see the recent insider purchases. 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. "isTransparent": false, '../imgs/USA.png' ?> //= $_COOKIE['currency'] == 'CAD . 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. 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). }, 326 E 8th St #105, Sioux Falls, SD 57103 TSE:TOU opened at C$56.23 on Wednesday. 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 combined co. will command a higher market cap ($5 billion), stronger production, more liquidity, and a greater ability to return capital to shareholders. Unauthorized distribution, transmission or republication strictly prohibited. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. 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. Market Data powered by QuoteMedia. This suggests a possible upside of 38.7% from the stock's current price. Insiders have purchased 14.86 million shares. Receive TOU Stock News and Ratings via Email. Mr. Bush holds aBachelors degree in Mining Engineering from Montana College of Mineral Science and Technology, Butte Montana. Oil's short-term outlook remains uncertain for these reasons. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. That means that an insider was happy to buy shares at around the current price of CA$22.83. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. that you ought to be aware of before buying any shares in Tourmaline Oil. After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008. The oldest executive at Tourmaline Oil Corp. is JohnElick, 77, who is the Independent Director. Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. There are 7 older and 4 younger executives at Tourmaline Oil. And the longer term insider transactions also give us confidence. Michael Rose has been working as a Chairman, President & Chief Executive Officer at Tourmaline for 21 years. ", Alternatively, email editorial-team (at) simplywallst.com. Concerned about the content? Ms. Beck holds a Bachelor of Arts (Economics) degree from the University of British Columbia and a Bachelor of Laws degree from Dalhousie University. This payout ratio is at a healthy, sustainable level, below 75%. This payout ratio is at a healthy, sustainable level, below 75%. 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. 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. Please disable your ad-blocker and refresh. "belowLineFillColorFalling": "rgba(41, 98, 255, 0.12)", (Natural) gas demand just keeps building, Rose said. Tourmaline and Topaz are the third and fourth oil and gas companies that Rose has built into billion-dollar enterprises. What is Tourmaline Oil's stock price forecast for 2023? Without further ado, here are three oil & gas stocks that have recently experienced recent insider buying. Access articles from across Canada with one account. On April 17, Janet Weiss, Director, bought 350 shares at C$45.58. } We continue to see the stock as a go-to name for natural gas exposure through H2/21, according to Jamie Kubik, analyst at CIBC Capital Markets. 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. Tourmaline Oil Corp. has a . 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. In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. Mr. Bush is the Chief Operating Officer of Tourmaline Oil Corp., a position he has held since April 2014. The following insiders have purchased ET shares in the last two years, according to MarketBeat (with dollar value): Approximately 3.28% of its stock is owned by insiders. 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. But the latter half of 2023 seems more promising for a rally in oil & gas prices due to supply concerns, and in the stocks I mention below. . "belowLineFillColorGrowing": "rgba(41, 98, 255, 0.12)", Is the stock too good to be true? Currently, 5.47% of its stock (18.5 million shares) is owned by insiders, which is the largest insider ownership among senior E&P peers, according to the company. Prior thereto, Mr. Robinson was Vice President, Finance and Chief Financial Officer of Duvernay and prior to that was Vice President, Finance and Chief Financial Officer of Berkley. Mr. Kirker has practiced law for more than 30 years in various capacities. Michael Rose, CEO of Tourmaline OIl Corp. Photo by Jim Wells/Postmedia. Share your thoughts and join the conversation in the comments. Soaring natural gas prices have propelled Tourmaline Oil Corp. Chief Executive Officer Mike Rose into the ranks of Canada's billionaires.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 from C$662 million since the beginning of this year.

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