|Bid||11.98 x 0|
|Ask||11.99 x 0|
|Day's Range||11.96 - 12.31|
|52 Week Range||10.45 - 22.62|
|Beta (3Y Monthly)||1.43|
|PE Ratio (TTM)||6.66|
|Earnings Date||Nov. 13, 2017 - Nov. 17, 2017|
|Forward Dividend & Yield||0.48 (3.89%)|
|1y Target Est||22.44|
TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (16,415.16, down 7.52 points).Aurora Cannabis Inc. (TSX:ACB). Health care. Down 10 cents, 2.02 per cent, to $4.86 on 9.2 million shares.First Quantum Minerals Ltd. (TSX:FM). Materials. Up 55 cents, or 5.71 per cent, to $10.19 on 8.4 million shares.The Green Organic Dutchman Holdings. (TSX:TGOD). Health care. Up eight cents, or 7.21 per cent, to $1.19 on 6.3 million shares.Algonquin Power & Utilities Corp. (TSX:AQN). Energy. Down 39 cents, or 2.11 per cent, to $18.06 on 5.3 million shares.Barrick Gold Corp. (TSX:ABX). Materials. Down $1.37, or 5.75 per cent, to $22.44 on 5 million shares.Hexo Corp. (TSX:HEXO). Health care. Down 41 cents, or 10.9 per cent, to $3.35 on 4.9 million shares. Companies in the news:Tourmaline Oil Corp. (TSX:TOU). Up $1.61 or 15 per cent to $12.33. Tourmaline Oil Corp.'s creation of a hybrid royalty company to hold some of its energy assets spurred a buying rush for the company's stock on Friday, although its share prices remained well below their 52-week highs. Tourmaline announced Thursday after markets closed it will sell a royalty on its oil and gas lands in northern Alberta and B.C., along with interests in two of its 19 natural gas processing plants and other third-party revenues, to newly created Topaz Energy Corp. for $775 million in shares and cash. Topaz is to raise $150 million to $200 million via a private placement of shares with investors to fund the deal, with the result that Tourmaline will wind up with between 75 and 81 per cent of the shares and $135 million to $185 million in cash, depending on the success of the private placement.WSP Global Inc. (TSX:WSP). Up $1.32 to $77.60. WSP Global Inc. is extending its shopping spree with the purchase of Dutch consulting firm Lievense Holding B.V. — WSP's seventh acquisition this year — in an ongoing bid to overtake rival SNC-Lavalin Group Inc. The Montreal-based engineering company announced Friday it will pay an undisclosed amount for the deal through available cash and credit facilities. The 375-employee Lievense firm gives WSP a foothold in the Netherlands and tacks on between $47 million and $56 million in additional annual revenue, according to analyst estimates. WSP's 2018 net revenues were $6 billion.MTY Food Group Inc. (TSX:MTY). Down $5.50 or 8.7 per cent to $57.75. MTY Food Group Inc. shares dropped to their lowest level in months after the restaurant franchisor reported quarterly revenue and profit that came in below analyst estimates. MTY reported earlier that profit attributable to its shareholders in the third quarter was $22.9 million or 91 cents per share for the quarter ended Aug. 31. That was up from $22.1 million or 88 cents per share in its 2018 fiscal third quarter, but short of estimates. Analysts had estimated $1.02 per share of profit and $167.9 million of revenue, according to financial markets data firm Refinitiv. MTY's revenue rose to $163.6 million from $113.0 million while system sales generated by its restaurants were a record $1.08 billion, up 36 per cent from $789.9 million a year earlier. This report by The Canadian Press was first published Oct. 11, 2019.The Canadian Press
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CALGARY — Tourmaline Oil Corp.'s creation of a hybrid royalty company to hold some of its energy assets spurred a buying rush for the company's stock on Friday, although its share prices remained well below their 52-week highs.Stock in the Calgary-based natural gas producer rose as much as 15 per cent to $12.32, up $1.60 from Thursday's close, but still at about half of the $22.62 high reached in late April on the Toronto Stock Exchange."It seems like the energy business has been longing for something to happen," said Tourmaline secretary and general counsel Scott Kirker when asked about the market reaction in an interview on Friday.Western Canada's natural gas industry has struggled for years due to low commodity prices and pipeline transportation constraints. Earlier this month, debt-ridden gas producer Bellatrix Exploration Ltd. put itself up for sale through a court-supervised restructuring process.Tourmaline announced Thursday, after markets closed it will sell a royalty on its oil and gas lands in northern Alberta and B.C., along with interests in two of its 19 natural gas processing plants and other third-party revenues, to newly created Topaz Energy Corp. for $775 million in shares and cash.Topaz is to raise $150 million to $200 million via a private placement of shares with investors to fund the deal, with the result that Tourmaline will wind up with between 75 and 81 per cent of the shares and $135 million to $185 million in cash, depending on the success of the private placement."Because we own 80 per cent, that's something we can sell down over the next year or whatever it takes to help finance other deals, purchases of our own shares, purchases of other assets, other companies," Kirker said."Because the whole market is quite depressed, there's a lot of opportunity out there."Analysts applauded the deal and predicted further upside if Topaz is used as a platform to accumulate more royalty and infrastructure interests.The assets being assigned to Topaz could easily make it worth more than $1 billion when it goes public, an event expected to take place in 2020, said GMP FirstEnergy analyst Robert Fitzmartyn in an interview.He said other gas-weighted companies with ownership of infrastructure such as Advantage Oil & Gas Ltd., ARC Resources Ltd. and Peyto Exploration and Development Corp. will probably look at similar solutions."I think they'll have to look at it," he said. "I mean, hope and expectation isn't a strategy for these companies that have largely been abandoned by the market. I think you have to recognize the merits of it."He raised his 12-month Tourmaline price target to $23.25 from $21.Tourmaline said it expects Topaz to generate $90 million of revenue in 2020, of which 75 per cent will be paid out in dividends at 80 cents per share.The transaction is expected to close in mid-November. This report by The Canadian Press was first published Oct. 11, 2019.Companies in this article: (TSX:TOU, TSX:AAV, TSX:ARX, TSX:PEY) Dan Healing, The Canadian Press
CALGARY, Oct. 10, 2019 /CNW/ - Tourmaline Oil Corp. (TSX:TOU.TO - News) ("Tourmaline") is pleased to announce the formation of Topaz Energy Corp. ("Topaz"), a new private royalty and infrastructure energy company. Tourmaline will sell to Topaz: a royalty interest on Tourmaline lands, a non-operated interest in two of Tourmaline's existing 19 natural gas processing plants, and a contracted interest in a portion of Tourmaline's current third-party revenue for total cash and share consideration of $775 million. Topaz will be capitalized initially with a $150 to $200 million third-party equity private placement, with Tourmaline retaining a 75% to 81% equity ownership interest.
TFSA investors should watch Tourmaline Oil Corp. (TSX:TOU) closely. The energy stock could be the next dividend rock star if it continues with the impressive EPS growth.
Peyto Exploration and Development Corp (TSX:PEY), Tourmaline Oil Corp (TSX:TOU), and Advantage Oil and Gas Ltd. (TSX:AAV) are three of the top natural gas companies in Canada.
Some stocks are best avoided. We don't wish catastrophic capital loss on anyone. Anyone who held Tourmaline Oil Corp...
CALGARY, Aug. 26, 2019 /CNW/ - Tourmaline Oil Corp. (TSX - TOU) ("Tourmaline" or the "Company") is pleased to announce that its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.12 per common share. All amounts in this news release are stated in Canadian dollars unless otherwise specified. This news release contains forward-looking information and statements (collectively, "forward-looking information") within the meaning of applicable securities laws.
CALGARY , July 31, 2019 /CNW/ - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to release financial and operating results for the second quarter of 2019. ...
CALGARY, July 4, 2019 /CNW/ - Tourmaline Oil Corp. (TSX – TOU) ("Tourmaline") is pleased to announce that the Toronto Stock Exchange (the "TSX") has accepted the notice of Tourmaline's intention to commence a normal course issuer bid (the "NCIB"). The NCIB allows Tourmaline to purchase up to 13,602,507 common shares (representing 5% of its 272,050,159 outstanding common shares as of June 30, 2019) over a period of twelve months commencing on July 8, 2019.
Enerplus Corp. (TSX:ERF)(NYSE:ERF) and Tourmaline Oil Corp. (TSX:TOU) are two top-quality energy stocks poised to explode off their lows, making plenty of energy millionaires in the process.
CALGARY , June 6, 2019 /CNW/ - Tourmaline Oil Corp. (TSX - TOU) (" Tourmaline ") is pleased to announce that the nominees listed in its information circular dated April 18, 2019 were elected ...
Stocks like Canadian Natural Resources Ltd. (TSX:CNQ)(NYSE:CNQ) have seen increased volatility this week thanks to fluctuating oil prices.
CALGARY, May 29, 2019 /CNW/ - Tourmaline Oil Corp. (TSX:TOU.TO - News) ("Tourmaline" or the "Company") is pleased to provide details of an enhanced five-year development plan. Aggregate free cash flow increases by approximately $840 million to a total of approximately $3.05 billion over the five years. Annual production and cash flow(2) are essentially unchanged from the previous plan. Growth capital directed primarily to Gundy BC Montney development. Tourmaline will proceed with the Gundy Phase 2 deep cut expansion to 400 mmcfpd with a Q4 2021 projected completion. The incremental gas volumes will be delivered into what the Company believes will be a period of improved natural gas prices.
Tourmaline Oil Corp. (TSX:TOU) and Peyto Exploration and Development Corp. (TSX:PEY) are both trading at bargain prices, provide attractive dividend yields, and are ideal for long-term investors looking for exposure to natural gas stocks.
As oil dives, should contrarian investors add Canadian Natural Resources Ltd. (TSX:CNQ)(NYSE:CNQ) to an energy stock shopping list?
Of the two stocks, only one is a clear winner. Tourmaline Oil Corp. (TSX:TOU) is growing its gas production numbers and its dividend where the other is not.
Natural gas prices could be headed higher due to exports. That could be a big advantage for Encana Corp (TSX:ECA)(NYSE:ECA) and the other stocks on this list.