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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (79280)	3/24/2020 1:53:28 PM
From: Goose94	Read Replies (1) of 202435

Tourmaline Oil (TOU-T) revisited 2.0 top pick from Josef Schachter on BNN.ca Market Call Mon March 24th @ 1200ET Tourmaline reported Q4/19 production of 299,844 boe/d (19 per cent liquids). Their new Gundy liquids plant is on stream and liquids volumes should rise to 68,000 barrels per day by year-end from 59,886 in Q4. Book value at year=end was $29.40 per share. Tourmaline has an excellent balance sheet with only $1.6 billion of debt against $8 billion of equity (20 per cent debt). Tourmaline now has a dividend of 12 cents per quarter (started in 2018 and raised three times from an original 8 cents), providing a 48 cent dividend and a yield of 7.1 per cent. They have normal course issuer bid and will have free funds flow this year to buy back shares. We have a one-year stock price target $24 per share and the stock now trades at its lowest valuation level ever. We are fans of management and their historic track record for shareholders. CEO Mike Rose owns 16.9 million shares, the largest CEO ownership of any company we cover. We recently became shareholders of Tourmaline and plan to build up our position during the current market malaise.

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