However, it only increased shareholding by a small percentage, and it wasn't a huge purchase by absolute value, either. Tourmaline still own just over a 50 per cent stake in Topaz. Michael Rose Email & Phone Number - Tourmaline | ZoomInfo The company can be reached via phone at +1-403-7673587. Canadian Natural Gas Has Gone Global: An Interview with Mike Rose from In-depth profiles and analysis for 20,000 public companies. 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. Most recently, Kendall Douglas Arthur, Senior Officer, bought 10,000 shares at C$5.50 (US$4.08) on March 7. Markets never sleep, and neither does Bloomberg News. This represents a $1.00 dividend on an annualized basis and a yield of 1.64%. CIBC analysts think the primary sector risks are lower commodity prices and rising industry costs. 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. Their TOU share price forecasts range from C$70.00 to C$112.00. Rose also purchased. If you have an ad-blocker enabled you may be blocked from proceeding. Vice President, Finance & Chief Financial Officer. Energy Transfer is definitely a lower-risk bet in the oil & gas sector due to these fee-based contracts, as its earnings are not as affected by commodity price fluctuations. A few of the highlights, Q2. You have already added five stocks to your watchlist. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. Tourmaline stands out to me as a super-attractive oil & gas stock for several reasons: Insider buying: Three insiders at Tourmaline Oil Corp. have bought C$6 million (US$4.45 million) worth of shares over the past year, according to MarketBeat. CEO is the third-largest shareholder of Canada gas producer, TD gives stock its only hold rating on stretched valuation. Mike Rose Thanks Jamie. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about Tourmaline Oil. 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. { Despite a significant decline in U.S. crude stockpiles, the dollar has risen in value and oil has fallen in price, largely due to the likelihood of the Federal Reserve raising interest rates again next month (which could potentially weaken energy demand further). 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. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Energy Transfer Partners is one North America's largest midstream energy companies, with approximately 120,000 miles of pipelines and energy infrastructure assets located across 41 states. //= $_COOKIE['currency'] == 'USD' ? The following June, Tourmaline purchased Mapan Energy for CAN$106 million in stock. Prior thereto, he served as Vice President, Production of Tourmaline since March 2013. 57.64% of the stock of Tourmaline Oil is held by institutions. Oil's short-term outlook remains uncertain for these reasons. 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). It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. 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. This suggests a possible upside of 38.7% from the stock's current price. Tourmaline Surge Propels Mike Rose's Stake Past C$1 Billion There are plenty of other companies that have insiders buying up shares. Mr. Frostad holds a Master of Science (Geology) and Bachelor of Science (Geology) from the University of Calgary. 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. "originalTitle": "Commodities"
Horticulture Homeschool Curriculum,
Tybee Island Shirley Sessions Political Party,
Articles M