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.. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. The company was incorporated in 2008 and is headquartered in Calgary, Canada. It said the increase in net earnings. Baytex Energy Corp. is crude oil and natural gas producer with operations in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. That means that an insider was happy to buy shares at around the current price of CA$22.83. To help with this, we've discovered 5 warning signs (1 doesn't sit too well with us!) Tourmaline still own just over a 50 per cent stake in Topaz. Sign-up to receive the latest news and ratings for Tourmaline Oil and its competitors with MarketBeat's FREE daily newsletter. 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. Rose owns a 0.4 per cent stake in Topaz, worth about $12 million. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. 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"showChart": true, Rose also purchased. You probably do not want to miss this free list of growing companies that insiders are buying. 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). { Export data to Excel for your own analysis. Acquisition activity is looking prescient, least of which is a +22 per cent increase in the 2022e NYMEX natural gas futures strip since its prior print, though we suspect this will be aided by the application of the Tourmaline execution machine on acquired assets and overall exceptional cost structure synergies, said Robert Fitzmartyn. "symbolActiveColor": "rgba(30, 200, 700, 0.41)", 2021 average. However, it only increased shareholding by a small percentage, and it wasn't a huge purchase by absolute value, either. Perpetual Energy's chief executive officer was Susan Riddell Rose, Michael Rose's wife. Biography of Michael Rose. 57.64% of the stock of Tourmaline Oil is held by institutions. There are 14 executives at Paramount Resources getting paid more, with James Riddell having the highest compensation of $1,815,460. Tourmaline, Canadas second-largest natural gas producer, has jumped 56 per cent 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. Visit our Community Guidelines for more information and details on how to adjust your email settings. Energy Transfer is currently paying out $1.23 annualized (back to its payout levels before the pandemic hit), after its recent distribution increase. Valuation: Like Tourmaline, Baytex shares look like a bargain here. Prior thereto, he was the Secretary and General Counsel of Tourmaline Oil Corp. since 2008. Michael Rose, president and CEO of Tourmaline Oil, spoke with Weekly host Andrew McCreath about his companys outlook on pricing, revenue and cash flow. Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. 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). By continuing to use our site, you agree to our Terms of Service and Privacy Policy. contact@marketbeat.com Those involved talk us through the great goals, a seminal sending off, penalty heartbreak and Mick Jagger. "d": "NYMEX Natural Gas" Prior thereto, he was Completions Manager at Tourmaline since May 2013. 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, he was Chairman, President and Chief Executive Officer of Duvernay Oil Corp. (" Duvernay "), a publicly traded oil and gas company (2004-2008). 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. Prior to joining Tourmaline, Mr. Frostad served as Geologist at Duvernay Oil Corp until its acquisition in 2008. And, it expects to end the year with a cash positive position. According to reliable sources, he means about $5 million to $10 million per year from his endorsements and television endeavors. Rose owns a 0.4% stake in Topaz, worth about C$12 million. It also carries a book value per share of $5.56, higher than its current stock price. If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt. How often does Tourmaline Oil pay dividends? Valuation: The stock trades at dirt cheap levels, with a P/E ratio of 4.65, and EV/EBITDA of 4.23, both below the sector median. How many employees does Tourmaline Oil have? The company has been on an acquisition spree, having completed the purchase of Black Swan Energy Ltd., and Paramount Resources Ltd.s land assets in North Montney. Tourmaline Oil is Canada's largest natural gas producer, and a leader in employing technology and innovation to produce ever cleaner natural gas. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. A high insider ownership often makes company leadership more mindful of shareholder interests. When you subscribe today, you'll gain immediate access to my top picks, personal portfolio insights, and in-depth analysis of over 140 stocks. Mr. Kirker has practiced law for more than 30 years in various capacities. We believe the recent pause in the shares represents an opportunity as we move into the fall of 2021. Insider buying: Insiders have been buying shares aggressively over the past year. The future doesn't just happen, we. Michael Rose, CEO of Tourmaline OIl Corp. , which the company says essentially offsets its estimated, Enbridge beats profit estimates as oil volumes rebound, LNG Canada project threatened amid cost dispute over Coastal GasLink pipeline, Cenovus Energy posts 2% rise in quarterly profit, exposure, CIBC Capital Market analysts say, billion of free cash flow in 2022 and US$, are lower commodity prices and rising industry costs, tap here to see other videos from our team.
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