Canada Markets closed

Tourmaline Oil Corp. (TOU.TO)

Toronto - Toronto Real Time Price. Currency in CAD
Add to watchlist
16.60-0.53 (-3.09%)
At close: 4:00PM EDT
Full screen
Previous Close17.13
Open17.03
Bid16.53 x 0
Ask16.68 x 0
Day's Range16.58 - 17.03
52 Week Range6.73 - 18.38
Volume947,157
Avg. Volume1,184,674
Market Cap4.495B
Beta (5Y Monthly)1.97
PE Ratio (TTM)73.45
EPS (TTM)0.23
Earnings DateNov. 02, 2020 - Nov. 09, 2020
Forward Dividend & Yield0.48 (2.86%)
Ex-Dividend DateSep. 14, 2020
1y Target Est22.68
  • The Canadian Press

    Most actively traded companies on the Toronto Stock Exchange

    TORONTO — Some of the most active companies traded Friday on the Toronto Stock Exchange: Toronto Stock Exchange (16,065.35, up 153.09 points.)Just Energy Group Inc. (TSX:JE). Energy. Down 27.5 cents, or 37.16 per cent, to 46.5 cents on 30.4 million shares.Zenabis Global Inc. (TSX:ZENA). Health care. Down half a cent, or 8.33 per cent, to 5.5 cents on 19.3 million shares.Bank of Nova Scotia. (TSX:BNS). Financials. Up 25 cents, or 0.46 per cent, to $54.46 on 7.3 million shares.Suncor Energy Inc. (TSX:SU). Energy. Down 42 cents, or 2.46 per cent, to $16.63 on 6 million shares. Bombardier Inc. (TSX:BBD.B). Industrials. Up one cent, or 2.94 per cent, to 35 cents on 5.7 million shares.Canadian Natural Resources Ltd. (TSX:CNQ). Down 39 cents, or 1.77 per cent, to $21.63 on 5.6 million shares. Companies in the news: Cogeco Communications Inc. (TSX:CCA). Up $3.36 or 3.2 per cent to $109.87. Cogeco Communications Inc. says its strategy is unaltered by costly promises made to Quebec from Rogers Communications Inc. in the event it succeeds in acquiring the telecom company. Having closed the door to its sale, the Montreal-based company controlled by the Audet family, "remains focused on achieving its profitable growth strategy" and on pursuing its investments, Cogeco said in an email. The company says Rogers can invest as much as it wants in Quebec, but doesn't need Cogeco to do so. The Toronto-based telecommunications giant went on the offensive Friday by unveiling a series of commitments if it manages to secure the Canadian assets of Cogeco and its main subsidiary, Cogeco Communications.Tourmaline Oil Corp. (TSX:TOU). Down 53 cents or 3.1 per cent to $16.60. Shares in Tourmaline Oil Corp. tracked lower Friday as its subsidiary, Topaz Energy Corp., announced it has filed a preliminary prospectus to raise $252.5 million through an initial public offering. The offering — which will test the market's appetite for new energy investments — is to generate $217.5 million from sales of treasury shares, along with $35 million from a secondary offering of shares held by majority owner Tourmaline. The shares to be priced at between $13 and $15 each. Final pricing and closing is expected in the latter part of October.Calfrac Well Services Ltd. (TSX:CFW). Up half a cent or 3.4 per cent to 15 cents. Shares in Calfrac Well Services Ltd. rose on Friday after the company sweetened its recapitalization offer with cash for shareholders while it tries to fend off a rival American firm's takeover bid. The Calgary-based oilfield services firm, which specializes in hydraulic fracturing or "fracking" of oil and gas wells, announced a revised plan under which each shareholder could elect to be paid 15 cents per share in cash, from a maximum pool of $10 million. The available cash, which would be borrowed, would cover about 46 per cent of the total common shares outstanding, he added. The revised recapitalization plan includes the provision of two warrants per share with an exercise price of five cents for three years, potentially boosting the number of shares by 5.5 per cent, Syed pointed out.TMX Group Ltd. (TSX:X). Up 13 cents to $135.42. TMX Group Ltd. has signed a deal to acquire AST Investor Services Inc. (Canada) for $165 million. AST Investor Services and its subsidiary AST Trust Company (Canada) provide transfer agency, corporate trust and related services to Canadian public and private companies. They have about 150 employees in offices in Toronto, Montreal, Calgary and Vancouver. TMX Group, the operator of the Toronto Stock Exchange, is acquiring the companies from Armor Holdco Inc., a portfolio company of Pacific Equity Partners. Armor’s U.S. operations, including American Stock Transfer & Trust Company LLC and D.F. King & Co., Inc., are not a part of the transaction.This report by The Canadian Press was first published Sept. 25, 2020.The Canadian Press

  • Tourmaline Oil files preliminary prospectus for $252.5M Topaz Energy IPO
    The Canadian Press

    Tourmaline Oil files preliminary prospectus for $252.5M Topaz Energy IPO

    CALGARY — Shares in Tourmaline Oil Corp. tracked lower Friday as its subsidiary, Topaz Energy Corp., announced it has filed a preliminary prospectus to raise $252.5 million through an initial public offering.The offering — which will test the market's appetite for new energy investments — is to generate $217.5 million from sales of treasury shares, along with $35 million from a secondary offering of shares held by majority owner Tourmaline. The shares to be priced at between $13 and $15 each.Final pricing and closing is expected in the latter part of October.In Toronto, Tourmaline stock fell by as much as 55 cents or 3.2 per cent to $16.58 on Friday afternoon. The larger energy sector is down by 55 per cent so far this year but Tourmaline has actually gained from its close on Dec. 31 of $15.22.The energy industry has been out of favour on stock markets for years for sound fundamental reasons and there's no reason to expect that to change soon, said Allan Small, senior investment adviser at HollisWealth in Toronto."I wouldn't be interested in the slightest (in the IPO) ...I just think there is no future," he said in an interview Friday, adding the timing of IPO is unfortunate as the COVID-19 pandemic drags on and oil prices stall after staging a recovery through the summer."I think oil companies are doing what they have to to survive and thrive in some way, whether that's spinning off assets, whether that's mergers, whether that's changing your business."The market's doubt about the ability of the energy industry to regain its former strength is reinforced by the recent move by oil giant BP Plc to reduce fossil fuel production and change itself into a clean energy giant, he said.Calgary-based Topaz was created by Tourmaline in November to hold royalty and energy infrastructure assets that it felt were not being recognized by the market in its share price.Topaz owns royalty interests on about 920,000 hectares of developed and undeveloped oil and gas lands, as well as non-operated stakes in four natural gas processing plants.The offering is being made through a syndicate of 14 underwriters co-led by Peters & Co. Ltd. and Scotiabank."Topaz's objective is to generate free cash flow growth through indirect oil and gas and infrastructure investment at a relatively low-risk and low cost to the company," says the preliminary prospectus."Topaz seeks to achieve this objective by selectively pursuing strategic business development opportunities with high-quality partners that are accretive to Topaz."This report by The Canadian Press was first published Sept. 25, 2020.Companies in this story: (TSX:TOU)Dan Healing, The Canadian Press

  • Topaz Set to Test Canada Energy Appetite With $188 Million IPO
    Bloomberg

    Topaz Set to Test Canada Energy Appetite With $188 Million IPO

    (Bloomberg) -- Tourmaline Oil Corp. is betting investors have an appetite for more Canadian energy stocks, offering up the biggest initial share sale to come out of Alberta’s oil patch in three years.The Calgary-based natural gas driller is creating a new royalty and energy infrastructure company through an initial public offering of Topaz Energy Corp., with the new entity and Tourmaline aiming to raise about C$252.5 million ($188.3 million) from the stock sale. That would be the largest IPO of an energy firm in the country since the Kinder Morgan Canada Ltd. sale in 2017.Topaz plans to sell 16.8 million to 19.4 million shares for C$13 to C$15 apiece in an offering expected to close in late October, the firm said in sale documents obtained by Bloomberg. Topaz plans to list on the Toronto Stock Exchange under the ticker “TPZ,” with shares initially yielding approximately 5.3% to 6.2%, the document shows.The IPO comes as Tourmaline’s shares are up about 10% this year, outpacing peers against a challenging backdrop for oil and gas drillers. Canada’s S&P/TSX Energy Index has fallen 37% in that period as the coronavirus pandemic sapped demand for oil and drove down prices. Tourmaline’s natural gas exposure helped the company fare better than its peers.Topaz is led by Chief Executive Officer Marty Staples, who was most recently head of Tourmaline’s land department and is described in documents as “instrumental” to the company’s growth since 2010.To woo investors, Topaz’s objective is “to generate free cash flow growth through indirect oil and gas and infrastructure investment at a relatively low-risk and low cost to the company,” according to its Sept. 24 regulatory filing.Tourmaline will retain a 52% stake in Topaz, though that would drop to 51% if banks managing the sale take up an option to buy an additional 15% of the offering -- a move that would lift the offering’s total to C$285.1 million. Peters & Co. Ltd. and Bank of Nova Scotia are leading a group of banks on the sale.One analyst sees promise from Tourmaline’s much-anticipated move.“With liquidity, a strong balance sheet and embedded value in Topaz, Tourmaline offers investors one of the more attractive ways to play consolidation in Canada,” Cormark Securities Inc. analyst Garett Ursu told clients in a note earlier this month.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.