mike rose tourmaline net worth

[Gas in Transition, Volume 2, Issue 5] "s": "OANDA:NATGASUSD", You are now being redirected to the BCE.ca website (Bell Canada Enterprises), where you can view our Accessibility plan,and submit your feedback using our Accessibility webform. There are 1 executives at Tourmaline Oil getting paid more, with Michael L. Rose having the highest compensation of $3,483,282. The company was incorporated in 2008 and is headquartered in Calgary, Canada. This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. Dennis da Silva's Top Picks: April 26, 2023, {{data.symbol | reutersRICLabelFormat:group.RICS}}, {{ stock | formatPrefix }}{{ stock.netChng | formatNetChange }}, U.S. natural gas slumps as LNG plant shutdown strands supplies, U.S. natural gas prices slump after fire at Texas LNG terminal, Gas exporters see growing support for East Coast plant in Canada. It owns a diverse portfolio of assets, including pipelines and storage facilities. I detail the insider transactions, provide an overview of each company and its valuation, and offer a bottom line for investors. Prior thereto, he served as Vice President, Production of Tourmaline since March 2013. Here's a summary of insider transactions this year: On April 17, Janet Weiss, Director, bought 350 shares at C$45.58. Access to my personal gold portfolio and build your own winning portfolio. Mr. Rose was educated at Queens University, graduating with an honours degree in Geology. I/we have a beneficial long position in the shares of TRMLF either through stock ownership, options, or other derivatives. There are 14 executives at Paramount Resources getting paid more, with James Riddell having the highest compensation of $1,815,460. Currently, 80% of the company's production comes from natural gas, and it also claims to have the lowest capital costs in the Alberta Deep Basin. 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. 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. "belowLineFillColorGrowingBottom": "rgba(41, 98, 255, 0)", Here's why Energy Transfer looks like an attractive investment opportunity. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. "isTransparent": false, We currently account for open market transactions and private dispositions, but not derivative transactions. US Property Taxes Rose Twice as Fast Last Year Than in 2021. . Read more about cookies here. 7 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Tourmaline Oil in the last twelve months. Concerned about the content? Michael Rose, CEO of Tourmaline OIl Corp. Photo by Jim Wells/Postmedia. 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(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. 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. Its shares now yield 9.78%, as of writing. 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). 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). And thanks everybody who's on the line. "largeChartUrl": "https://energynow.ca/markets/", which phrase signals a contrast between ideals about marriage 304-539-8172; one level homes in clemmons, nc casadeglo3@gmail.com Billionaire Tom Steyer Plans Net Zero Apartment Upgrades Across US. 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. The company currently estimates the move will be 20% accretive to its free cash flow per share, for example. Tourmaline Oil (TSE:TOU) has a market capitalization of C$20.63 billion and generates C$7.10 billion in revenue each year. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. If you are a Home delivery print subscriber, unlimited online access is. { While he sees less upside for Tourmaline, Bilkoski still has a buy rating on Topaz Energy Corp., an energy royalty and infrastructure spinoff for which all 14 analysts have buy recommendations. That includes its regular quarterly dividend and a special dividend. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Mathematician and author Hannah Fry investigates patterns in human behavior, AI and the creative ideas behind the organizations and pioneers transforming society. Tourmaline Oil has only been the subject of 2 research reports in the past 90 days. 57.64% of the stock of Tourmaline Oil is held by institutions. Mike Rowe has a net worth of $30 million in 2023. View which stocks are hot on social media with MarketBeat's trending stocks report. But, I will also point out that the stock is only worth considering if you fully understand the tax implications and potential drawbacks of owning an MLP. The combined co. will command a higher market cap ($5 billion), stronger production, more liquidity, and a greater ability to return capital to shareholders. Michael Rose, president and CEO of Tourmaline Oil, . Michael Rose has been working as a Chairman, President & Chief Executive Officer at Tourmaline for 21 years. "dateRange": "12M", High institutional ownership can be a signal of strong market trust in this company. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. ("Duvernay"), a publicly traded oil and gas company (2004-2008). Bottom line: Tourmaline is one of the lowest-risk energy stocks I've analyzed. Photo by Gavin Young/Postmedia files. 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. Is this happening to you frequently? 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Among other awards, Mr. Rose is the recipient of the Stanley Slipper Gold Medal from the Canadian Society of Petroleum Geologists (2009). Mr. Frostad has served as the Vice President, Exploration of Tourmaline Oil Corp. since November 2019. 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 you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt. Tourmaline Oil has a P/B Ratio of 1.51. articles a month for anyone to read, even non-subscribers! Prior thereto, he wasVice President, Land and Contractsat Berkley Petroleum Corp. until it was acquired in 2001. 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. And, as a special welcome offer, new subscribers can try out our service risk-free with a free 2-week trial and receive a 10% discount on annual subscriptions. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. Distribution: One of the key reasons to invest in its stock is for its distribution. Mr. Rose was educated at Queen's University, graduating with an honours degree in Geology. Don't miss this opportunity to take control of your investment strategy and grow your wealth subscribe now! 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. This distribution looks very sustainable here given that Energy Transfer is producing close to $2 billion in distributable cash flow on a quarterly basis, and is paying out ~$950 million in distributions per quarter to maintain its yield (see its Q4 2022 financial results for more details). Tourmaline Oil Corp., Canadas largest natural gas producer, enjoyed a stunning second quarter, with net earnings soaring 1,993 per cent, compared to the same period last year, on a production increase of 47 per cent. Michael Rose, CEO of Tourmaline OIl Corp. , which the company says essentially offsets its estimated, Enbridge beats profit estimates as oil volumes rebound, LNG Canada project threatened amid cost dispute over Coastal GasLink pipeline, Cenovus Energy posts 2% rise in quarterly profit, exposure, CIBC Capital Market analysts say, billion of free cash flow in 2022 and US$, are lower commodity prices and rising industry costs, tap here to see other videos from our team. There are currently 6 buy ratings and 1 strong buy rating for the stock. Sign-up to receive the latest news and ratings for Tourmaline Oil and its competitors with MarketBeat's FREE daily newsletter. You have already added five stocks to your watchlist. 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. It also carries a book value per share of $5.56, higher than its current stock price. In fact, the recent purchase by Chairman of the Board Michael Rose was not their only acquisition of Tourmaline Oil shares this year. Insider buying: Insiders have been buying shares aggressively over the past year. 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. Markets never sleep, and neither does Bloomberg News. Tourmaline Oil Corp. (TSE:TOU) released its quarterly earnings results on Wednesday, March, 1st. 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. Monitor your investments 24 hours a day, around the clock from around the globe. 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. All rights reserved. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body. Valuation: Like Tourmaline, Baytex shares look like a bargain here. While there are numerous reasons for insiders to sell company shares, there is typically only one reason they buy. Soaring natural gas prices have propelled Tourmaline Oil Corp. Chief Executive Officer Mike Rose into the ranks of Canadas billionaires. There are plenty of other companies that have insiders buying up shares. Tourmaline, Canadas second-largest natural gas producer, has jumped 56% over that period thanks to a combination of rising natural gas prices on tight supplies and a series of dividend hikes and special dividend payouts. According to reliable sources, he means about $5 million to $10 million per year from his endorsements and television endeavors. Get exclusive access to the National Post ePaper, an electronic replica of the print edition that you can share, download and comment on. //= $_COOKIE['currency'] == 'USD' ? Please try again. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. Tourmaline Location 250-6th Ave SW Ste 2900, Calgary, Alberta, T2P 3H7, Canada Description Industry Electricity, Oil & Gas Energy, Utilities & Waste Treatment Tourmaline Oil has received a consensus rating of Buy. "As technology evolves, we're doing things we've never been able to do. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Mr. 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.). Prior to joining Cinch, Ms. Tait was an audit manager at Ernst & Young Chartered Accountants. Even after reducing debt by $800 million last year, it has total long-term debt of $48.2 billion. there have been sell-offs in oil & gas stocks in the first place. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. The next issue of FP Investor will soon be in your inbox. The company was incorporated in 2008 and is headquartered in Calgary, Canada. However, it only increased shareholding by a small percentage, and it wasn't a huge purchase by absolute value, either. What Stock Would You Invest $5,000 in Right Now? Tourmaline Oil had a trailing twelve-month return on equity of 35.48% and a net margin of 63.21%. A welcome email is on its way. After Bank Turmoil, Says RBA. 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. If you want to know exactly who sold, for how much, and when, simply click on the graph below! "width": "100%", Baytex's vision is to grow into a top-tier North American oil producer focused on per share value creation, according to the company. 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. To help with this, we've discovered 5 warning signs (1 doesn't sit too well with us!) Specifically, they have bought C$588,306.00 in company stock and sold C$0.00 in company stock. Get daily stock ideas from top-performing Wall Street analysts. He is also Member of Canadian Society of Petroleum . Markets never sleep, and neither does Bloomberg News. { Ms. Tait obtained her Chartered Accountant designation in 2003 and her Bachelor of Commerce in 2001 from the University of Calgary. That means. This article by Simply Wall St is general in nature. The official website for the company is www.tourmalineoil.com. View TOU analyst ratings or view top-rated stocks. We apologize, but this video has failed to load. 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. 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. } Tourmaline Oil Corp. has a . 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%). The company employs 322 workers across the globe. 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. Many might not know this, but this man is also a professional voice-over artist. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Tourmaline has also hiked its regular quarterly dividend by 41 per cent over the last 12 months. On March 7 and 13, Mike Rose, Senior Officer, bought a combined 10,000 shares at C$55.70 and C$58.77. 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. President, Chief Executive Officer a Director of Tourmaline Oil, the total compensation of Michael Rose at Tourmaline Oil is $3,373,190. Why Tourmaline Oil Stock Just Fell to 52-week Lows? 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. "title": "Commodities", Tourmaline Oil's mailing address is 250 6 Ave SW Suite 3700, CALGARY, AB T2P 3H7, Canada. And, it expects to end the year with a cash positive position. After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008. TSE:TOU opened at C$56.23 on Wednesday. According to the International Energy Agency's (IEA), Finally, remember that the U.S. has stated it intends to refill the. Export data to Excel for your own analysis. Ms. Beck has been the Corporate Secretary of Tourmaline Oil Corp. since March 2021 and the Associate General Counsel of the Company since 2017. CEO is the third-largest shareholder of Canada gas producer, TD gives stock its only hold rating on stretched valuation. Ms. Tait has been the Controller of Tourmaline Oil Corp. since September 2015 and was the Manager of Finance prior thereto. Tourmaline Oil is Canada's largest natural gas producer, and a leader in employing technology and innovation to produce ever cleaner natural gas. "locale": "en", Get short term trading ideas from the MarketBeat Idea Engine. Tourmaline, led by chief executive officer Mike Rose, is buying Black Swan Ltd. for about $750-million in stock. Tourmaline Oil has a PEG Ratio of 1.72. { Please be aware of the risks associated with these stocks. Mr. Robinson has more than 37 years of experience in the oil and gas industry in the disciplines of finance, financial reporting, budgeting, accounting, management, treasury, tax, and business development. Prior thereto, he was the Vice President, Land and Contractsof Duvernay Oil Corp. until its acquisition in 2008 for $5.9 billion. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. The companys updated fiveyear plan, at current prices, delivers $1.8 billion of free cash flow in 2022 and US$7 billion over the full fiveyear duration of the plan. The dividend payout ratio of Tourmaline Oil is 7.63%. I wrote this article myself, and it expresses my own opinions. 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. Bottom line: Baytex's stock is down 28.59% over the past year, but the worst of it may be behind it. ", Mr. Kirker has been the Chief Legal Officer, External Affairs since March 2022. News; Video; 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. 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. A high insider ownership often makes company leadership more mindful of shareholder interests. 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. 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. 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. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. But over a five-year period, the stock has only edged up 0.15 per cent. 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). Join thousands of other investors who make better investing decisions with our premium tools. Prior thereto, he was Completions Manager at Tourmaline since May 2013. While he sees less upside for Tourmaline, Bilkoski still has a buy rating on Topaz Energy Corp., an energy royalty and infrastructure spinoff for which all 14 analysts have buy recommendations. June 14, 2022; utpal parrikar education . view top-rated stocks among Wall Street analysts, 250 6 Ave SW Suite 3700, CALGARY, AB T2P 3H7, Canada. EnergyNow is an online energy news and data media service dedicated to providing essential up to-date information on the Canadian oil & gas industry. Rose also purchased 5,000 shares at C$62.77 on January 25. Market Data powered by QuoteMedia. Without further ado, here are three oil & gas stocks that have recently experienced recent insider buying. Our daily ratings and market update email newsletter. "d": "CDN Light Sweet" mike rose tourmaline net worth. 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. 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. Share your thoughts and join the conversation in the comments. And the longer term insider transactions also give us confidence. Mr. Robinson holds a Bachelor of Commerce degree from the University of Calgary and is a Chartered Accountant. Prior thereto, he was the Secretary and General Counsel of Tourmaline Oil Corp. since 2008. 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. Mr. Rose said an $8-million investment in the project has already saved Tourmaline more than $25-million in fuel costs.

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