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mike rose tourmaline net worth

    mike rose tourmaline net worth

    Mathematician and author Hannah Fry investigates patterns in human behavior, AI and the creative ideas behind the organizations and pioneers transforming society. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Seven years on, he's at it again.. Since then, TOU shares have decreased by 10.9% and is now trading at C$60.87. 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. Soaring natural gas prices have propelled Tourmaline Oil Corp. Chief Executive Officer Mike Rose into the ranks of Canadas billionaires. Bottom line: Tourmaline is one of the lowest-risk energy stocks I've analyzed. Sign-up to receive the latest news and ratings for Tourmaline Oil and its competitors with MarketBeat's FREE daily newsletter. 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. Michael Rose Net Worth Michael Rose biography. Tourmaline is the third oil and gas company Rose has founded and led. 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. We start this journey in 1998 with England vs. Argentina, the game that had everything. He started Duvernay Oil Corp. shortly thereafter, eventually selling it to Shell for $5.9 billion in 2008. 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. That's what I like to see! When is Tourmaline Oil's next earnings date? How often does Tourmaline Oil pay dividends? Results for {phrase} ({results_count} of {results_count_total}), Displaying {results_count} results of {results_count_total}. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Prior to joining Tourmaline, Ms. Aspin was a member of the Marketing team at Duvernay Oil Corp. from 2004 until its acquisition in 2008. { There are 1 executives at Tourmaline Oil getting paid more, with Michael L. Rose having the highest compensation of $3,483,282. Insider buying: Insiders have been buying shares aggressively over the past year. Tourmaline Oil Trading Up 1.9 %. The information you requested is not available at this time, please check back again soon. 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. 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. 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. Rose also purchased. 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. The ex-dividend date of this dividend is Tuesday, March 14th. I wrote this article myself, and it expresses my own opinions. There are currently 6 buy ratings and 1 strong buy rating for the stock. Billionaire Tom Steyer Plans Net Zero Apartment Upgrades Across US. Even after reducing debt by $800 million last year, it has total long-term debt of $48.2 billion. Its current quarterly dividend of $.25 equals a 1.62% current stock yield. President, Chief Executive Officer a Director of Tourmaline Oil, the total compensation of Michael Rose at Tourmaline Oil is $3,373,190. "d": "WCS Heavy" With its low-cost structure and diversified marketing exposure, analysts say Tourmaline is well-positioned to generate superior returns. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Tourmaline has also hiked its regular quarterly dividend by 41% over the last 12 months. And, it expects to end the year with a cash positive position. What is Tourmaline Oil's stock price forecast for 2023? VP of Fin., CFO & Non-Independent Director. Ms. Aspin holds a Bachelor of Commerce degree from the University of Saskatchewan. Tourmaline Oil insiders own about CA$497m worth of shares (which is 7.0% of the company). Valuation: Like Tourmaline, Baytex shares look like a bargain here. There are plenty of other companies that have insiders buying up shares. "locale": "en", Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. Please. So we are pleased to announce a very strong Q2 2020 with significant free cash flow generation. Mr. Robinson is a director and the Vice President, Finance and Chief Financial Officer of Tourmaline. Share your thoughts and join the conversation in the comments. Analysts Disclosure: I/we have a beneficial long position in the shares of TRMLF either through stock ownership, options, or other derivatives. On April 17, Janet Weiss, Director, bought 350 shares at C$45.58. Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. 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. Odyssey Trust Company1-587-885-0960 (within Canada)1-888-290-1175 (Toll Free). This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. (844) 978-6257. Access advanced stock screeners, portfolio monitoring tools, proprietary research reports, and more. 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. Mr. Tumbach holds a Bachelor of Commerce degree from the University of Calgary and isa Member of the Canadian Association of Petroleum Landmen. 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. A high insider ownership often makes company leadership more mindful of shareholder interests. 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.. Insiders have been buying shares at three oil & gas companies lately. { You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. It said the increase in net earnings. Markets never sleep, and neither does Bloomberg News. 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. "symbols": [ 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.). Seeking Alpha's Disclosure: Past performance is no guarantee of future results. "s": "USOIL", In this case we're pleased to report that the insider purchases were made at close to current prices. This article by Simply Wall St is general in nature. Oil prices surged to $80/barrel earlier this month following OPEC's unexpected production cuts. Second, expect a big oil deficit in H2 2023. According to the International Energy Agency's (IEA), Finally, remember that the U.S. has stated it intends to refill the. He is also Member of Canadian Society of Petroleum . 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.. Prior thereto, he was the Secretary and General Counsel of Tourmaline Oil Corp. since 2008. We encountered an issue signing you up. Ms. Aspin joined Tourmaline Oil Corp. in 2009 and was appointed Vice President, Marketing in September 2017. Prior thereto, he wasVice President, Land and Contractsat Berkley Petroleum Corp. until it was acquired in 2001. You have already added five stocks to your watchlist. Last year, the company, led by Michael Rose, made four acquisitions valued at a total of $795 million. Tourmaline has also hiked its regular quarterly dividend by 41 per cent over the last 12 months. 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. Read more about cookies here. 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. Prior thereto, he served as Vice President, Production of Tourmaline since March 2013. PEG Ratios above 1 indicate that a company could be overvalued. "belowLineFillColorFalling": "rgba(41, 98, 255, 0.12)", We ask you to keep your comments relevant and respectful. This payout ratio is at a healthy, sustainable level, below 75%. "scaleFontColor": "rgba(120, 123, 134, 1)", 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. "colorTheme": "light", There are 14 executives at Paramount Resources getting paid more, with James Riddell having the highest compensation of $1,815,460. Mr. Rose said an $8-million investment in the project has already saved Tourmaline more than $25-million in fuel costs. I have no business relationship with any company whose stock is mentioned in this article. Overnight on Wall Street is morning in Europe. Only 5.47% of the stock of Tourmaline Oil is held by insiders. "d": "NYMEX Natural Gas" Tourmaline, named after the semi-precious stone, has also struck a long-term agreement with Cheniere Energy Inc., one of the largest liquefied natural gas producers in the U.S., to supply 140,000 mmbtu per day of natural gas to the companys Corpus Christi liquefaction terminal in Texas for a 15-year term starting 2023. Michael Rose, CEO of Tourmaline OIl Corp. , which the company says essentially offsets its estimated, Enbridge beats profit estimates as oil volumes rebound, LNG Canada project threatened amid cost dispute over Coastal GasLink pipeline, Cenovus Energy posts 2% rise in quarterly profit, exposure, CIBC Capital Market analysts say, billion of free cash flow in 2022 and US$, are lower commodity prices and rising industry costs, tap here to see other videos from our team. The company employs 322 workers across the globe. There was an error, please provide a valid email address. Is this happening to you frequently? On January 23 and 25, Jill Angevine, Director, bought 1,120 shares at C$62.63 and C$65.94. Tourmaline Oil does not have a long track record of dividend growth. Photo by Gavin Young/Postmedia files. 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. "showSymbolLogo": true, View analysts price targets for TOU or view top-rated stocks among Wall Street analysts. which phrase signals a contrast between ideals about marriage 304-539-8172; one level homes in clemmons, nc casadeglo3@gmail.com If you have an ad-blocker enabled you may be blocked from proceeding. My comprehensive understanding of these markets and my ability to identify and capitalize on profitable opportunities have enabled me to consistently deliver strong returns for my subscribers. The consensus among Wall Street research analysts is that investors should "buy" TOU shares. 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. There are 1 executives at Tourmaline Oil getting paid more, . 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. 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. Its earnings are supported by its "fee-based" contracts it has signed with its clients. 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 company earned $2.18 billion during the quarter. There are 7 older and 4 younger executives at Tourmaline Oil. If you don't see it, please check your junk folder. Mr. Rose was educated at Queens University, graduating with an honours degree in Geology. View the best growth stocks for 2023 here. Tourmaline and Topaz are the third and fourth oil and gas companies that Rose has built into billion-dollar enterprises. Mr. Frostad holds a Master of Science (Geology) and Bachelor of Science (Geology) from the University of Calgary. Last updated: 1 April 2023 at 11:00am EST. 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. Rose also purchased 5,000 shares at C$62.77 on January 25. Perpetual Energy's chief executive officer was Susan Riddell Rose, Michael Rose's wife. Should You Be Too? Real-time analyst ratings, insider transactions, earnings data, and more. On March 7 and 13, Mike Rose, Senior Officer, bought a combined 10,000 shares at C$55.70 and C$58.77. CIBC analysts think the primary sector risks are lower commodity prices and rising industry costs. In fact, the recent purchase by Chairman of the Board Michael Rose was not their only acquisition of Tourmaline Oil shares this year. Prior to March 2013, he served as Completions and Operations Engineering Manager of Tourmaline since 2009.

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