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TransAtlantic Petroleum

TSX:TNP
Snowflake Description

Flawless balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TNP
TSX
$12M
Market Cap
  1. Home
  2. CA
  3. Energy
Company description

TransAtlantic Petroleum Ltd., an oil and natural gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties in Turkey and Bulgaria. The last earnings update was 3 days ago. More info.


Add to Portfolio Compare Print
  • TransAtlantic Petroleum has significant price volatility in the past 3 months.
TNP Share Price and Events
7 Day Returns
25%
TSX:TNP
15.2%
CA Oil and Gas
11.4%
CA Market
1 Year Returns
-74.4%
TSX:TNP
-41.5%
CA Oil and Gas
-22%
CA Market
TNP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
TransAtlantic Petroleum (TNP) 25% -26.8% -40% -74.4% -83.9% -95.9%
CA Oil and Gas 15.2% -37.6% -42.4% -41.5% -49.8% -53.6%
CA Market 11.4% -22.2% -23.5% -22% -19.8% -13.3%
1 Year Return vs Industry and Market
  • TNP underperformed the Oil and Gas industry which returned -41.5% over the past year.
  • TNP underperformed the Market in Canada which returned -22% over the past year.
Price Volatility
TNP
Industry
5yr Volatility vs Market

TNP Value

 Is TransAtlantic Petroleum undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of TransAtlantic Petroleum to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for TransAtlantic Petroleum.

TSX:TNP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 10.2%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:TNP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.83
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.825 (1 + (1- 21%) (166.41%))
1.61
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.61
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (1.61 * 5.44%)
10.2%

Discounted Cash Flow Calculation for TSX:TNP using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for TransAtlantic Petroleum is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

TSX:TNP DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 10.2%)
2020 13.77 Est @ 76.74% 12.49
2021 21.22 Est @ 54.15% 17.48
2022 29.36 Est @ 38.34% 21.94
2023 37.36 Est @ 27.27% 25.34
2024 44.66 Est @ 19.52% 27.48
2025 50.95 Est @ 14.1% 28.45
2026 56.20 Est @ 10.3% 28.48
2027 60.49 Est @ 7.64% 27.82
2028 63.99 Est @ 5.78% 26.70
2029 66.86 Est @ 4.48% 25.31
Present value of next 10 years cash flows $241.00
TSX:TNP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $66.86 × (1 + 1.44%) ÷ (10.2% – 1.44%)
$774.30
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $774.30 ÷ (1 + 10.2%)10
$293.18
TSX:TNP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $241.00 + $293.18
$534.18
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $534.18 / 62.02
$8.61
TSX:TNP Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in TSX:TNP represents 1.54799x of AMEX:TAT
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.54799x
Value per Share
(Listing Adjusted, CAD)
= Value per Share (USD) x Listing Adjustment Factor
= $ 8.61 x 1.54799
CA$13.33
Value per share (CAD) From above. CA$13.33
Current discount Discount to share price of CA$0.30
= -1 x (CA$0.30 - CA$13.33) / CA$13.33
97.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price TransAtlantic Petroleum is available for.
Intrinsic value
>50%
Share price is CA$0.3 vs Future cash flow value of CA$13.33
Current Discount Checks
For TransAtlantic Petroleum to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • TransAtlantic Petroleum's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • TransAtlantic Petroleum's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for TransAtlantic Petroleum's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are TransAtlantic Petroleum's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:TNP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $-0.10
AMEX:TAT Share Price ** AMEX (2020-03-26) in USD $0.19
Canada Oil and Gas Industry PE Ratio Median Figure of 55 Publicly-Listed Oil and Gas Companies 6.35x
Canada Market PE Ratio Median Figure of 499 Publicly-Listed Companies 10.74x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of TransAtlantic Petroleum.

TSX:TNP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= AMEX:TAT Share Price ÷ EPS (both in USD)

= 0.19 ÷ -0.10

-1.99x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • TransAtlantic Petroleum is loss making, we can't compare its value to the CA Oil and Gas industry average.
  • TransAtlantic Petroleum is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does TransAtlantic Petroleum's expected growth come at a high price?
Raw Data
TSX:TNP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -1.99x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Canada Oil and Gas Industry PEG Ratio Median Figure of 29 Publicly-Listed Oil and Gas Companies -0.04x
Canada Market PEG Ratio Median Figure of 234 Publicly-Listed Companies 0.69x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for TransAtlantic Petroleum, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on TransAtlantic Petroleum's assets?
Raw Data
TSX:TNP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $0.13
AMEX:TAT Share Price * AMEX (2020-03-26) in USD $0.19
Canada Oil and Gas Industry PB Ratio Median Figure of 198 Publicly-Listed Oil and Gas Companies 0.38x
Canada Market PB Ratio Median Figure of 2,352 Publicly-Listed Companies 1x
TSX:TNP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= AMEX:TAT Share Price ÷ Book Value per Share (both in USD)

= 0.19 ÷ 0.13

1.48x

* Primary Listing of TransAtlantic Petroleum.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • TransAtlantic Petroleum is overvalued based on assets compared to the CA Oil and Gas industry average.
X
Value checks
We assess TransAtlantic Petroleum's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. TransAtlantic Petroleum has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

TNP Future Performance

 How is TransAtlantic Petroleum expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as TransAtlantic Petroleum has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-3.9%
Expected Oil and Gas industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is TransAtlantic Petroleum expected to grow at an attractive rate?
  • Unable to compare TransAtlantic Petroleum's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare TransAtlantic Petroleum's earnings growth to the Canada market average as no estimate data is available.
  • Unable to compare TransAtlantic Petroleum's revenue growth to the Canada market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
TSX:TNP Future Growth Rates Data Sources
Data Point Source Value (per year)
Canada Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average -3.9%
Canada Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 1%
Canada Market Earnings Growth Rate Market Cap Weighted Average 7.7%
Canada Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:TNP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:TNP Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
TSX:TNP Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 67 33 -5
2019-09-30 66 29 -4
2019-06-30 72 27 -6
2019-03-31 73 25 -7
2018-12-31 71 29 -5
2018-09-30 70 27 -9
2018-06-30 63 17 -11
2018-03-31 57 24 -10
2017-12-31 57 18 -24
2017-09-30 60 19 -26
2017-06-30 64 24 -26
2017-03-31 69 17 -33

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if TransAtlantic Petroleum is high growth as no earnings estimate data is available.
  • Unable to determine if TransAtlantic Petroleum is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:TNP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from TransAtlantic Petroleum Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:TNP Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
TSX:TNP Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 -0.10
2019-09-30 -0.07
2019-06-30 -0.12
2019-03-31 -0.14
2018-12-31 -0.10
2018-09-30 -0.17
2018-06-30 -0.22
2018-03-31 -0.20
2017-12-31 -0.50
2017-09-30 -0.54
2017-06-30 -0.55
2017-03-31 -0.72

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if TransAtlantic Petroleum will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine TransAtlantic Petroleum's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. TransAtlantic Petroleum's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Energy companies here
  3. TransAtlantic Petroleum's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess TransAtlantic Petroleum's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
TransAtlantic Petroleum has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

TNP Past Performance

  How has TransAtlantic Petroleum performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare TransAtlantic Petroleum's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • TransAtlantic Petroleum does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare TransAtlantic Petroleum's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare TransAtlantic Petroleum's 1-year growth to the CA Oil and Gas industry average as it is not currently profitable.
Earnings and Revenue History
TransAtlantic Petroleum's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from TransAtlantic Petroleum Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:TNP Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 67.38 -5.37 18.38
2019-09-30 66.43 -3.56 20.49
2019-06-30 71.92 -6.35 19.97
2019-03-31 72.90 -7.34 20.20
2018-12-31 70.79 -5.22 15.31
2018-09-30 70.45 -8.54 15.33
2018-06-30 62.99 -11.17 18.16
2018-03-31 57.13 -9.60 17.57
2017-12-31 56.64 -23.88 17.67
2017-09-30 60.12 -25.54 18.75
2017-06-30 64.11 -25.82 15.92
2017-03-31 69.47 -32.93 16.58
2016-12-31 68.60 -22.45 17.89
2016-09-30 65.84 -49.33 7.50
2016-06-30 67.52 -29.06 13.63
2016-03-31 74.87 -28.21 20.89
2015-12-31 85.06 -26.67 30.05
2015-09-30 97.19 21.39 34.55
2015-06-30 114.93 14.07 32.52
2015-03-31 130.94 21.20 30.67
2014-12-31 138.83 29.21 35.06
2014-09-30 144.71 -0.65 40.18
2014-06-30 140.97 -13.78 45.98
2014-03-31 130.43 -12.31 45.32
2013-12-31 130.83 -13.27 43.03
2013-09-30 134.06 -12.83 30.69
2013-06-30 136.53 -7.54 26.70
2013-03-31 140.45 -1.87 33.54

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if TransAtlantic Petroleum has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • TransAtlantic Petroleum used its assets less efficiently than the CA Oil and Gas industry average last year based on Return on Assets.
  • It is difficult to establish if TransAtlantic Petroleum improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess TransAtlantic Petroleum's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
TransAtlantic Petroleum has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

TNP Health

 How is TransAtlantic Petroleum's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up TransAtlantic Petroleum's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • TransAtlantic Petroleum is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • TransAtlantic Petroleum's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of TransAtlantic Petroleum's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from TransAtlantic Petroleum Company Filings, last reported 2 months ago.

TSX:TNP Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 53.63 20.00 9.66
2019-09-30 55.68 26.06 14.45
2019-06-30 50.00 31.20 13.71
2019-03-31 50.35 36.90 19.73
2018-12-31 58.47 22.00 9.89
2018-09-30 51.27 26.20 13.58
2018-06-30 64.63 30.38 18.72
2018-03-31 74.64 24.50 16.25
2017-12-31 78.65 28.63 18.93
2017-09-30 86.99 12.38 2.76
2017-06-30 92.43 26.48 12.25
2017-03-31 89.51 30.60 15.30
2016-12-31 84.54 41.94 10.03
2016-09-30 59.51 87.42 20.61
2016-06-30 51.70 83.82 1.60
2016-03-31 56.50 92.93 2.34
2015-12-31 58.92 90.47 5.70
2015-09-30 145.58 129.65 10.58
2015-06-30 171.77 143.05 19.32
2015-03-31 182.54 149.47 28.15
2014-12-31 211.46 135.72 34.74
2014-09-30 171.07 91.64 9.43
2014-06-30 175.17 88.05 5.16
2014-03-31 168.33 76.47 16.71
2013-12-31 167.32 69.77 12.88
2013-09-30 191.48 49.77 12.27
2013-06-30 204.17 39.77 15.92
2013-03-31 214.31 39.77 19.43
  • TransAtlantic Petroleum's level of debt (37.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (64.4% vs 37.3% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making TransAtlantic Petroleum has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making TransAtlantic Petroleum has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -35.6% per year.
X
Financial health checks
We assess TransAtlantic Petroleum's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. TransAtlantic Petroleum has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

TNP Dividends

 What is TransAtlantic Petroleum's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from TransAtlantic Petroleum dividends.
If you bought CA$2,000 of TransAtlantic Petroleum shares you are expected to receive CA$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate TransAtlantic Petroleum's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate TransAtlantic Petroleum's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:TNP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Canada Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 37 Stocks 8%
Canada Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 4.7%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.3%
Canada Bottom 25% Dividend Yield 25th Percentile 2.7%
Canada Top 25% Dividend Yield 75th Percentile 8.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:TNP Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as TransAtlantic Petroleum has not reported any payouts.
  • Unable to verify if TransAtlantic Petroleum's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of TransAtlantic Petroleum's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as TransAtlantic Petroleum has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess TransAtlantic Petroleum's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can TransAtlantic Petroleum afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. TransAtlantic Petroleum has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

TNP Management

 What is the CEO of TransAtlantic Petroleum's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
N. Mitchell
COMPENSATION $2,429,425
AGE 57
TENURE AS CEO 8.8 years
CEO Bio

Mr. N. Malone Mitchell III, has been Manager of General Partner at Longfellow Energy, LP since 2018. He has been the Chief Executive Officer of TransAtlantic Petroleum Ltd. since May 6, 2011. He is also the Partner at Laço Management Participações, Consultoria e Assessoria de Investimentos Ltda. Mr. Mitchell’s responsibilities include strategic planning, financial oversight and management training. He founded Longfellow Energy, LP in 2006 and served as its Partner and Member of Managing Board until 2018. In December 2006, he resigned from daily management at Riata/SandRidge. Mr. Mitchell is a Partner, Managing Member and Member of Management Board at Riata Corporate Group LLC. He founded Riata Corporate Group LLC. In 2006. Mr. Mitchell founded Viking Drilling, LLC in 2007 and serves as its Partner and Managing Member. Mr. Mitchell is also actively involved in the venture capital and agriculture businesses. He is a Partner and Managing Member of Riata Management, LLC. Mr. Mitchell founded SandRidge Energy, Inc. (formerly known as Riata Energy Inc.) in 1985. From 1985 to 2006, Mr. Mitchell built Riata Energy into one of the largest privately-held energy companies in the United States. Mr. Mitchell has 30 years of industry experience with “In-Field” and executive management experience in all aspects of oil and gas exploration, development, production and services. Mr. Mitchell has succeeded over the past three decades by maintaining a conservative capital structure, entering into projects with a long-term outlook, applying modern technologies and attrActing and retaining top employees. Mr. Mitchell spends a considerable amount of time annually traveling in order to be an integral on sight presence in TransAtlantic. He served as an Operations Manager at Riata Energy until 1989 and served as its Chief Executive Officer, Chairman, President and Chief Operating Officer from 1989 to December 31, 2006. Prior to his involvement with Riata Energy, he worked in the oil field services industry and was employed in his family’s ranching and aviation businesses. He has been the Chairman of TransAtlantic Petroleum Ltd. since May 2008 and has been its Director since April 2008. He serves as a Director of ImmunoBiosciences, Inc. Mr. Mitchell has served as the President of Riata Corporate Group, LLC and Longfellow Energy, LLC. He served as a Director of PostRock Energy Corporation from 2007 to May 7, 2008. He is also actively involved in the venture capital and agriculture businesses. In August 2008, Mr. Mitchell established the Riata Center for Entrepreneurship and regularly returns there to speak to energy and business students. Mr. Mitchell completed graduation from Sanderson High School in 1979 and received B.S. in Agriculture from the Oklahoma State University in 1983.

CEO Compensation
  • N. 's compensation has increased whilst company is loss making.
  • N. 's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the TransAtlantic Petroleum management team in years:

4.2
Average Tenure
47
Average Age
  • The tenure for the TransAtlantic Petroleum management team is about average.
Management Team

N. Mitchell

TITLE
Chairman & CEO
COMPENSATION
$2M
AGE
57
TENURE
8.8 yrs

Todd Dutton

TITLE
President
COMPENSATION
$983K
AGE
65
TENURE
5.8 yrs

Michael Hill

TITLE
Principal Financial Officer & Chief Accounting Officer
AGE
37
TENURE
1.2 yrs

Marc Hornbrook

TITLE
Vice President of Operations
TENURE
1.2 yrs

Tabitha Bailey

TITLE
VP, General Counsel & Corporate Secretary
AGE
33
TENURE
1.2 yrs

Selami Uras

TITLE
Executive Vice President of Turkey
TENURE
8.2 yrs

Veli Ülker

TITLE
Chief Financial Officer of Eastern Europe
TENURE
2.6 yrs

Ozan Ulker

TITLE
Chief Financial Officer of Turkey

Noah Mitchell

TITLE
Vice President
TENURE
6.2 yrs
Board of Directors Tenure

Average tenure and age of the TransAtlantic Petroleum board of directors in years:

6.9
Average Tenure
65
Average Age
  • The tenure for the TransAtlantic Petroleum board of directors is about average.
Board of Directors

N. Mitchell

TITLE
Chairman & CEO
COMPENSATION
$2M
AGE
57
TENURE
11.8 yrs

Mel Riggs

TITLE
Independent Director
COMPENSATION
$105K
AGE
64
TENURE
10.7 yrs

Charles Campise

TITLE
Independent Director
COMPENSATION
$89K
AGE
68
TENURE
7.8 yrs

Jonathon Fite

TITLE
Independent Director
COMPENSATION
$67K
AGE
45
TENURE
3.3 yrs

Bob Alexander

TITLE
Independent Director
COMPENSATION
$86K
AGE
85
TENURE
9.8 yrs

Greg Renwick

TITLE
Independent Director
COMPENSATION
$67K
AGE
70
TENURE
6.1 yrs

Lee Muncy

TITLE
Director
COMPENSATION
$313K
AGE
66
TENURE
0.9 yrs

Randy Rochman

TITLE
Independent Director
COMPENSATION
$82K
AGE
60
TENURE
3.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
16. Dec 19 Buy Longfellow Energy, LP Company 12. Dec 19 12. Dec 19 7,363,053 CA$0.50 CA$3,651,193
02. Jul 19 Buy N. Mitchell Individual 28. Jun 19 28. Jun 19 2,716 CA$1.04 CA$2,824
14. Jun 19 Buy N. Mitchell Individual 12. Jun 19 14. Jun 19 62,105 CA$1.06 CA$65,912
11. Jun 19 Buy N. Mitchell Individual 07. Jun 19 10. Jun 19 52,575 CA$1.05 CA$54,658
10. Jun 19 Sell Dalea Management, LLC Company 06. Jun 19 06. Jun 19 -6,772,612 CA$1.04 CA$-7,013,937
10. Jun 19 Buy N. Mitchell Individual 06. Jun 19 06. Jun 19 6,772,612 CA$1.04 CA$7,013,937
31. May 19 Buy N. Mitchell Individual 29. May 19 30. May 19 142,068 CA$1.08 CA$153,421
28. May 19 Buy N. Mitchell Individual 23. May 19 24. May 19 3,100 CA$1.08 CA$3,337
20. May 19 Buy KMF Advisers, LLC Company 16. May 19 16. May 19 10,000 CA$1.09 CA$10,885
17. May 19 Buy N. Mitchell Individual 15. May 19 16. May 19 29,802 CA$1.08 CA$32,038
16. May 19 Buy KMF Advisers, LLC Company 14. May 19 15. May 19 30,000 CA$1.10 CA$32,826
14. May 19 Buy N. Mitchell Individual 10. May 19 14. May 19 70,780 CA$1.08 CA$74,680
14. May 19 Buy KMF Advisers, LLC Company 10. May 19 13. May 19 13,958 CA$1.07 CA$14,799
X
Management checks
We assess TransAtlantic Petroleum's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. TransAtlantic Petroleum has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

TNP News

Simply Wall St News

TNP Company Info

Description

TransAtlantic Petroleum Ltd., an oil and natural gas company, engages in the acquisition, exploration, development, and production of oil and natural gas properties in Turkey and Bulgaria. As of December 31, 2018, it had interests in 5 onshore exploration licenses and 18 onshore production leases covering an area of 372,050 net acres with a total net proved reserves of 9,976 Mbbl of oil and 2,440 Mmcf of natural gas located in Turkey, as well as a production concession covering an area of approximately 162,500 net undeveloped acres located in Bulgaria. The company was incorporated in 1985 and is based in Addison, Texas.

Details
Name: TransAtlantic Petroleum Ltd.
TNP
Exchange: TSX
Founded: 1985
$16,914,776
62,016,063
Website: http://www.transatlanticpetroleum.com
Address: TransAtlantic Petroleum Ltd.
16803 Dallas Parkway,
Addison,
Texas, 75001,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
AMEX TAT Common Shares NYSE MKT LLC US USD 16. Jun 2003
DB TRT1 Common Shares Deutsche Boerse AG DE EUR 16. Jun 2003
LSE 0UE7 Common Shares London Stock Exchange GB USD 16. Jun 2003
TSX TNP Common Shares The Toronto Stock Exchange CA CAD 16. Jun 2003
Number of employees
Current staff
Staff numbers
148
TransAtlantic Petroleum employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/28 01:28
End of day share price update: 2020/03/26 00:00
Last estimates confirmation: 2018/03/21
Last earnings filing: 2020/03/25
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.