See what's happening in the market right now with MarketBeat's real-time news feed. Seven years on, he's at it again.. Mr. I have no business relationship with any company whose stock is mentioned in this article. Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Get daily stock ideas from top-performing Wall Street analysts. "isTransparent": false, On March 7 and 13, Mike Rose, Senior Officer, bought a combined 10,000 shares at C$55.70 and C$58.77. Canadian Natural Gas Has Gone Global: An Interview with Mike Rose from Mr. Rose was educated at Queens University, graduating with an honours degree in Geology. 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.. Markets never sleep, and neither does Bloomberg News. Insider buying: Insiders have been buying shares aggressively over the past year. 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. 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. Rose also purchased 5,000 shares at C$62.77 on January 25. Tourmaline Oil had a trailing twelve-month return on equity of 35.48% and a net margin of 63.21%. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about Tourmaline Oil. View which stocks are hot on social media with MarketBeat's trending stocks report. According to reliable sources, he means about $5 million to $10 million per year from his endorsements and television endeavors. Dividend: One potential downside of owning the stock is the fact that it (currently) does not pay a dividend. The combined co. will command a higher market cap ($5 billion), stronger production, more liquidity, and a greater ability to return capital to shareholders. But over a five-year period, the stock has only edged up 0.15 per cent. Natural gas stations coming soon to Canada | Financial Post 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.. In fact, there have been 34 open market buys compared to only 6 sells in that timeframe, according to Nasdaq. 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. Mr. Bush is the Chief Operating Officer of Tourmaline Oil Corp., a position he has held since April 2014. "plotLineColorFalling": "rgba(41, 98, 255, 1)", When you subscribe today, you'll gain immediate access to my top picks, personal portfolio insights, and in-depth analysis of over 140 stocks. 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. Since then, TOU shares have decreased by 10.9% and is now trading at C$60.87. }. 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. 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. Tourmaline Surge Propels Mike Rose's Stake Past C$1 Billion Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Bullish insiders bet CA$9.2m on Tourmaline Oil Corp. (TSE:TOU) Mike Rowe has a net worth of $30 million in 2023. American Consumer News, LLC dba MarketBeat 2010-2023. Read more about cookies here. Mr. Bush served as Completions and Operations Engineering Manager of Duvernay Oil Corp. until its acquisition in 2008. Please try again. 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. Prior thereto, he was the Vice President, Land and Contractsof Duvernay Oil Corp. until its acquisition in 2008 for $5.9 billion. Oil prices surged to $80/barrel earlier this month following OPEC's unexpected production cuts. The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 3rd 2023. I detail the insider transactions, provide an overview of each company and its valuation, and offer a bottom line for investors. Create an account or sign in to continue with your reading experience. } 1 for 4 weeks, Alibaba's Jack Ma turns up in Japan as college professor, On May Day, workers rally for better labor conditions, 'Waste of time': Community college transfers derail students. Tourmaline Oil does not have a long track record of dividend growth. VP of Fin., CFO & Non-Independent Director. Access articles from across Canada with one account. Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. Tourmalines Topaz equity ownership was valued at $939.7 million in mid-July, which the company says essentially offsets its estimated 2021 yearend net debt. First, investors should note that the OPEC cuts have not yet taken effect (they begin in May). Mr. mike rose tourmaline net worth - hazrentalcenter.com "s": "TVC:UKOIL", Insiders have purchased 14.86 million shares. Tourmaline Oil Corp (TRMLF) CEO Michael Rose on Q1 2020 Results After the sale of Berkley in 2001, Mr. Rose founded Duvernay, which was sold in August 2008 for $5.9 billion. Tourmaline has also hiked its regular quarterly dividend by 41 per cent over the last 12 months. Mr. Frostad has served as the Vice President, Exploration of Tourmaline Oil Corp. since November 2019. 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. 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Prior to joining Tourmaline, Ms. Beck worked in legal and business development roles at Pembina Pipeline Corporation. "showChart": true, On average, they expect the company's stock price to reach C$84.44 in the next twelve months. Should I buy or sell Tourmaline Oil stock right now? Our 2020 Tourmaline aggregate dividend of $130 million and our net Topaz aggregate dividend of $17 million will be paid from our estimated 2020 free cash flow of $173 million. 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. Tourmaline stock was trading 155 per cent higher to $33.53 per share at the end of last week, compared to the same period last year, and nearly 205 per cent higher compared to March 2020 when oil and gas stock prices began to slide. It's a proven operator with strong, diversified production in North America, low cash costs, and one of the strongest balance sheets in the oil & gas sector. Join thousands of other investors who make better investing decisions with our premium tools. Tourmaline gained the mineral rights by giving Perpetual Energy about 6.75 million share of Tourmaline stock, worth approximately CAN$256.5 million. Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. Monitor your investments 24 hours a day, around the clock from around the globe. Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. 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'active' : 'js-change-currency' ?> //= plugin_dir_url( __FILE__ ) . Mike Rose, Tourmaline Oil Corp | Speaker | Energy Council The company currently estimates the move will be 20% accretive to its free cash flow per share, for example. Michael Rose Net Worth (2023) | wallmine CA There are plenty of other companies that have insiders buying up shares. I believe this is a bullish sign for each stock price, for obvious reasons. Tourmaline's management has guided for 2023 production of 520,000 - 540,000 barrels of oil equivalent per day ("BOE/D"). This payout ratio is at a healthy, sustainable level, below 75%. 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. "As technology evolves, we're doing things we've never been able to do. It's certainly positive to see the recent insider purchases. 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. 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. }, Tourmaline Oil Insider Buying: 3 Oil And Gas Stocks To Consider Now Mathematician and author Hannah Fry investigates patterns in human behavior, AI and the creative ideas behind the organizations and pioneers transforming society. While there are numerous reasons for insiders to sell company shares, there is typically only one reason they buy. Its earnings are supported by its "fee-based" contracts it has signed with its clients. Tourmaline Oil Corp. (TSE:TOU) Senior Officer Mike Rose Acquires 5,000 It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. "symbolActiveColor": "rgba(30, 200, 700, 0.41)", "s": "TVC:USOIL+NYMEX:ICL1! Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. Ms. Aspin joined Tourmaline Oil Corp. in 2009 and was appointed Vice President, Marketing in September 2017. Concerned about the content? Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Previously, Mr. Robinson held numerous positions in finance and accounting with intermediate and senior oil and gas companies commencing his career with a large public accounting firm. In Conversation: Mike Rose, CEO, Tourmaline Oil [Gas In Transition] "d": "WTI Crude" Tourmaline Oil (TSE:TOU) pays an annual dividend of C$1.00 per share and currently has a dividend yield of 1.64%. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. "s": "USOIL", It owns a diverse portfolio of assets, including pipelines and storage facilities. Get 30 Days of MarketBeat All Access Free, By creating a free account, you agree to our, First Republic up in air as regulators juggle bank's fate, Stock market today: Tokyo gains, most Asian markets closed, Regulators seize First Republic Bank, sell to JPMorgan Chase, 'Super Mario Bros. Movie' hits $1B, is No. In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. "locale": "en", Seeking Alpha's Disclosure: Past performance is no guarantee of future results. In the interview, Rose said that he sees his Canadian energy company as resilient on all fronts. Tourmaline Oil Corp. (TRMLF) CEO Michael Rose on Q4 2021 Results Ms. Tait obtained her Chartered Accountant designation in 2003 and her Bachelor of Commerce in 2001 from the University of Calgary. Bottom line: Baytex's stock is down 28.59% over the past year, but the worst of it may be behind it. Officers | Tourmaline Oil Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. What is Tourmaline Oil's stock price forecast for 2023? 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 billionfrom $662 million since the beginning of this year. 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. TSE:TOU opened at C$56.23 on Wednesday. Susan Riddell Rose Net Worth (2023) | wallmine CA Tourmaline Oil's stock was trading at C$68.32 at the beginning of the year. Tourmaline Enters Long-Term LNG Export Marketing Arrangement With "originalTitle": "Commodities" Tourmaline Oil has a P/B Ratio of 1.51. He is a member of the Association of Professional Engineers and Geoscientists of Alberta and the Canadian Society of Petroleum Geologists. 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. 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. mike rose tourmaline net worth - marconasedkin.de Mr. Kirker has been the Chief Legal Officer, External Affairs since March 2022. It also carries a book value per share of over $40, just shy of its current share price. 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. Michael Rose Net Worth Michael Rose biography. All rights reserved. Entering text into the input field will update the search result below.