mike rose tourmaline net worth

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. 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. has a . Tourmaline's management has guided for 2023 production of 520,000 - 540,000 barrels of oil equivalent per day ("BOE/D"). View TOU analyst ratings or view top-rated stocks. Its shares now yield 9.78%, as of writing. Please. 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. "belowLineFillColorGrowing": "rgba(41, 98, 255, 0.12)", 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. Seven years on, he's at it again.. 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. { 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). 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. There are plenty of other companies that have insiders buying up shares. Tourmaline has also hiked its regular quarterly dividend by 41 per cent over the last 12 months. 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. But Tourmaline ended 2022 with just $494 million in debt. View analysts price targets for TOU or view top-rated stocks among Wall Street analysts. VP of Fin., CFO & Non-Independent Director. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. Mike Rowe has a net worth of $30 million in 2023. 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. 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. Here's why: While there are numerous reasons for insiders to sell company shares, there is typically only one reason they buy, and it's a simple one: they believe their company's stock is undervalued, and will rise over time. } A high insider ownership often makes company leadership more mindful of shareholder interests. Unauthorized distribution, transmission or republication strictly prohibited. What you need to know, David Rosenberg: Which assets have priced in a recession and which ones haven't. "plotLineColorGrowing": "rgba(15, 164, 207, 1)", //= $_COOKIE['currency'] == 'USD' ? It said the increase in net earnings. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. Michael Rose Net Worth Michael Rose biography. US Property Taxes Rose Twice as Fast Last Year Than in 2021. . Tourmaline Oil executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. 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). [Gas in Transition, Volume 2, Issue 5] 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). "d": "WTI Crude" After Bank Turmoil, Says RBA. Daily puzzles including the New York Times Crossword. 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. Ms. Beck holds a Bachelor of Arts (Economics) degree from the University of British Columbia and a Bachelor of Laws degree from Dalhousie University. [Gas in Transition, Volume 2, Issue 5] And, it expects to end the year with a cash positive position. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? If you have an ad-blocker enabled you may be blocked from proceeding. Check out our latest analysis for Tourmaline Oil. Billionaire Tom Steyer Plans Net Zero Apartment Upgrades Across US. 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. How often does Tourmaline Oil pay dividends? 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. 57.64% of the stock of Tourmaline Oil is held by institutions. Insiders have purchased 14.86 million shares. The official website for the company is www.tourmalineoil.com. We aim to bring you long-term focused analysis driven by fundamental data. On March 7 and 13, Mike Rose, Senior Officer, bought a combined 10,000 shares at C$55.70 and C$58.77. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). Biography of Michael Rose. Mr. McKinnon has served as the Vice President, Operations of Tourmaline Oil Corp. since May 2015. 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 was the Secretary and General Counsel of Tourmaline Oil Corp. since 2008. Mr. Rose has been the Chairman, President and Chief Executive Officer of Tourmaline since he founded the Company in August 2008. If you don't see it, please check your junk folder. The company earned $2.18 billion during the quarter. Ms. Tait has been the Controller of Tourmaline Oil Corp. since September 2015 and was the Manager of Finance prior thereto. There are 1 executives at Tourmaline Oil getting paid more, with Michael L. Rose having the highest compensation of $3,483,282. Access articles from across Canada with one account. And thanks everybody who's on the line. 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. 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.. Shares of TOU stock and other Canadian stocks can be purchased through an online brokerage account. This week Michael (Mike) Rose, Chairman, President, and Chief Executive Officer of Tourmaline joins us as our guest. That's what I like to see! 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. If you want to know exactly who sold, for how much, and when, simply click on the graph below! Please be aware of the risks associated with these stocks. { It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. 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. { Is the stock too good to be true? Tourmaline made some exciting announcements last week. Rose owns a 0.4% stake in Topaz, worth about C$12 million. Soaring natural gas prices have propelled Tourmaline Oil Corp. Chief Executive Officer Mike Rose into the ranks of Canadas billionaires. 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. With its low-cost structure and diversified marketing exposure, analysts say Tourmaline is well-positioned to generate superior returns. June 14, 2022; utpal parrikar education . 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. Prior thereto, he was Exploration Manager of the Companys NEBC and PRH operating areas, and Senior Geologist at Tourmaline, since February 2009. mike rose tourmaline net worth. 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. "tabs": [ Tourmaline is Canada's largest natural gas producer and its fourth-largest gas processing midstream operator. Our daily ratings and market update email newsletter. . However, oil prices have since declined, nearly erasing the gains from OPEC's decision. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about Tourmaline Oil. 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. 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.. Prior thereto, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). Prior to joining Tourmaline, Ms. Beck worked in legal and business development roles at Pembina Pipeline Corporation. Second, expect a big oil deficit in H2 2023. Get exclusive access to the National Post ePaper, an electronic replica of the print edition that you can share, download and comment on. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. which phrase signals a contrast between ideals about marriage 304-539-8172; one level homes in clemmons, nc casadeglo3@gmail.com You probably do not want to miss this free list of growing companies that insiders are buying. Prior to joining Tourmaline, Mr. Frostad served as Geologist at Duvernay Oil Corp until its acquisition in 2008. 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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. "d": "WCS Heavy" Its current quarterly dividend of $.25 equals a 1.62% current stock yield. 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%). Last updated: 1 April 2023 at 11:00am EST. Market Data powered by QuoteMedia. "width": "100%", Rose owns a 0.4 per cent stake in Topaz, worth about $12 million. There are currently 6 buy ratings and 1 strong buy rating for the stock. 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. 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. "dateRange": "12M", Mr. Frostad has served as the Vice President, Exploration of Tourmaline Oil Corp. since November 2019. Mr. Tumbach has been the Vice President, Land and Contracts of Tourmaline Oil Corp. since 2008. View our TOU earnings forecast. 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. TSE:TOU opened at C$56.23 on Wednesday. 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. Dividend: One potential downside of owning the stock is the fact that it (currently) does not pay a dividend. Watch: Tourmaline Oil CEO Michael Rose on building CNG stations with Clean Energy Fuels in Western Canada. The company-specific risks to achieving its price target include infrastructure constraints that may limit Tourmalines ability to tie-in new production and changes to production deliverability assumptions (i.e., initial production rates and production declines) on Tourmalines undeveloped assets.. News; Video; 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. 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.

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