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TORC Oil & Gas

TSX:TOG
Snowflake Description

Reasonable growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TOG
TSX
CA$133M
Market Cap
  1. Home
  2. CA
  3. Energy
Company description

TORC Oil & Gas Ltd. engages in the exploration and production of petroleum and natural gas in the Western Canadian Sedimentary Basin. The last earnings update was 30 days ago. More info.


Add to Portfolio Compare Print
  • TORC Oil & Gas has significant price volatility in the past 3 months.
TOG Share Price and Events
7 Day Returns
5.6%
TSX:TOG
7%
CA Oil and Gas
7.1%
CA Market
1 Year Returns
-87.6%
TSX:TOG
-46%
CA Oil and Gas
-25.3%
CA Market
TOG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
TORC Oil & Gas (TOG) 5.6% -82.6% -87.6% -87.6% -91.7% -94.4%
CA Oil and Gas 7% -40.8% -46.8% -46% -53.7% -57.4%
CA Market 7.1% -24.1% -26.7% -25.3% -23.4% -17.5%
1 Year Return vs Industry and Market
  • TOG underperformed the Oil and Gas industry which returned -46% over the past year.
  • TOG underperformed the Market in Canada which returned -25.3% over the past year.
Price Volatility
TOG
Industry
5yr Volatility vs Market

TOG Value

 Is TORC Oil & Gas 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 TORC Oil & Gas 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 TORC Oil & Gas.

TSX:TOG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-12-31) in CAD CA$ 0.14961615384615
Payout Ratio Company Filings (2019-12-31) -5311.5%
Discount Rate (Cost of Equity) See below 8.1%
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:TOG
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- 26.5%) (233.34%))
1.216
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.22
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.44% + (1.216 * 5.44%)
8.05%

Discounted Cash Flow Calculation for TSX:TOG using Dividend Discount Model Model

The calculations below outline how an intrinsic value for TORC Oil & Gas is arrived at by discounting future dividends to their present value. This approach is used for finance firms where free cash flow is difficult to estimate (e.g. Banks/ Insurance firms).

If the firm does not pay the majority of its earnings out as a dividend this method will often arrive at a value significantly lower than the share price.

See our documentation to learn about this calculation.

TSX:TOG Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= CA$0.15 / (8.05% - 1.44%)
CA$1.84
TSX:TOG Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$1.84
Current discount Discount to share price of CA$0.57
= -1 x (CA$0.57 - CA$1.84) / CA$1.84
69%

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

Current Discount
Amount off the current price TORC Oil & Gas is available for.
Intrinsic value
>50%
Share price is CA$0.57 vs Future cash flow value of CA$1.84
Current Discount Checks
For TORC Oil & Gas to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • TORC Oil & Gas's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • TORC Oil & Gas'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 TORC Oil & Gas's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are TORC Oil & Gas's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:TOG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$-0.17
TSX:TOG Share Price ** TSX (2020-03-27) in CAD CA$0.57
Canada Oil and Gas Industry PE Ratio Median Figure of 55 Publicly-Listed Oil and Gas Companies 6.03x
Canada Market PE Ratio Median Figure of 497 Publicly-Listed Companies 10.58x

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

** Primary Listing of TORC Oil & Gas.

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

= TSX:TOG Share Price ÷ EPS (both in CAD)

= 0.57 ÷ -0.17

-3.36x

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

  • TORC Oil & Gas is loss making, we can't compare its value to the CA Oil and Gas industry average.
  • TORC Oil & Gas is loss making, we can't compare the value of its earnings to the Canada market.
Price based on expected Growth
Does TORC Oil & Gas's expected growth come at a high price?
Raw Data
TSX:TOG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -3.36x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
109.6%per year
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 TORC Oil & Gas, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on TORC Oil & Gas's assets?
Raw Data
TSX:TOG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$6.41
TSX:TOG Share Price * TSX (2020-03-27) in CAD CA$0.57
Canada Oil and Gas Industry PB Ratio Median Figure of 198 Publicly-Listed Oil and Gas Companies 0.39x
Canada Market PB Ratio Median Figure of 2,351 Publicly-Listed Companies 1x
TSX:TOG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:TOG Share Price ÷ Book Value per Share (both in CAD)

= 0.57 ÷ 6.41

0.09x

* Primary Listing of TORC Oil & Gas.

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

  • TORC Oil & Gas is good value based on assets compared to the CA Oil and Gas industry average.
X
Value checks
We assess TORC Oil & Gas'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. TORC Oil & Gas has a total score of 3/6, 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.

TOG Future Performance

 How is TORC Oil & Gas expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

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
109.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is TORC Oil & Gas expected to grow at an attractive rate?
  • TORC Oil & Gas's earnings growth is expected to exceed the low risk savings rate of 1.4%.
Growth vs Market Checks
  • TORC Oil & Gas's earnings growth is expected to exceed the Canada market average.
  • TORC Oil & Gas's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:TOG Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:TOG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 109.6%
TSX:TOG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 4.1%
Canada Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average -3.7%
Canada Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 1.1%
Canada Market Earnings Growth Rate Market Cap Weighted Average 7.8%
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:TOG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:TOG Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 409
2022-12-31 311
2021-12-31 522 198 34 3
2020-12-31 501 195 35 3
2020-03-28
TSX:TOG Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 481 285 -37
2019-09-30 462 291 -1
2019-06-30 481 316 16
2019-03-31 467 290 18
2018-12-31 446 294 17
2018-09-30 441 276 32
2018-06-30 377 225 3
2018-03-31 346 207 -8
2017-12-31 326 188 -10
2017-09-30 310 174 1
2017-06-30 297 168 -4
2017-03-31 273 144 -22

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • TORC Oil & Gas's earnings are expected to grow significantly at over 20% yearly.
  • TORC Oil & Gas's revenue is expected to grow by 4.1% yearly, however this is not considered high growth (20% yearly).
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:TOG 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 3 Analyst Estimates (S&P Global) See Below

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

TSX:TOG Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.23 0.31 0.15 2.00
2020-12-31 0.03 0.19 -0.25 3.00
2020-03-28
TSX:TOG Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 -0.17
2019-09-30 0.00
2019-06-30 0.07
2019-03-31 0.09
2018-12-31 0.08
2018-09-30 0.16
2018-06-30 0.01
2018-03-31 -0.04
2017-12-31 -0.06
2017-09-30 0.01
2017-06-30 -0.02
2017-03-31 -0.13

*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 TORC Oil & Gas will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.
X
Future performance checks
We assess TORC Oil & Gas'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.
TORC Oil & Gas has a total score of 4/6, 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.

TOG Past Performance

  How has TORC Oil & Gas 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 TORC Oil & Gas'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.
  • TORC Oil & Gas does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare TORC Oil & Gas's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare TORC Oil & Gas's 1-year growth to the CA Oil and Gas industry average as it is not currently profitable.
Earnings and Revenue History
TORC Oil & Gas'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 TORC Oil & Gas Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:TOG Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 481.02 -37.13 23.09
2019-09-30 461.50 -0.94 23.10
2019-06-30 481.28 16.15 22.99
2019-03-31 467.01 18.01 22.52
2018-12-31 446.06 16.89 21.17
2018-09-30 440.93 31.86 20.60
2018-06-30 377.48 2.78 19.73
2018-03-31 346.39 -8.01 18.83
2017-12-31 326.19 -10.49 17.82
2017-09-30 309.85 1.47 17.06
2017-06-30 297.11 -4.16 16.56
2017-03-31 273.50 -22.44 16.42
2016-12-31 238.50 -50.44 17.32
2016-09-30 220.24 -142.56 18.60
2016-06-30 219.38 -183.48 19.77
2016-03-31 218.72 -182.66 20.14
2015-12-31 214.77 -172.66 20.10
2015-09-30 214.59 -113.48 20.19
2015-06-30 223.19 -45.45 20.12
2015-03-31 240.02 -17.03 20.56
2014-12-31 267.79 6.26 20.19
2014-09-30 266.75 18.83 20.12
2014-06-30 233.00 6.97 17.00
2014-03-31 184.06 -3.19 14.08
2013-12-31 139.72 -10.08 10.47
2013-09-30 95.23 -5.92 7.46
2013-06-30 65.08 -10.87 6.83
2013-03-31 45.79 -15.05 5.89

*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 TORC Oil & Gas has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if TORC Oil & Gas has efficiently used its assets last year compared to the CA Oil and Gas industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if TORC Oil & Gas 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 TORC Oil & Gas'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.
TORC Oil & Gas 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.

TOG Health

 How is TORC Oil & Gas'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 TORC Oil & Gas's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • TORC Oil & Gas's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • TORC Oil & Gas's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of TORC Oil & Gas'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 not covered by short term assets, assets are 0.2x 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 TORC Oil & Gas Company Filings, last reported 2 months ago.

TSX:TOG Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,422.37 304.00 3.98
2019-09-30 1,492.03 295.44 2.56
2019-06-30 1,503.77 300.61 2.58
2019-03-31 1,498.86 355.00 6.47
2018-12-31 1,494.41 335.49 3.46
2018-09-30 1,525.92 337.29 3.19
2018-06-30 1,492.72 333.00 10.50
2018-03-31 1,388.32 233.09 2.12
2017-12-31 1,385.03 242.68 1.89
2017-09-30 1,359.43 230.00 27.73
2017-06-30 1,369.31 198.00 4.32
2017-03-31 1,350.89 218.04 3.31
2016-12-31 1,349.32 218.74 2.41
2016-09-30 1,350.65 225.00 4.10
2016-06-30 1,256.88 247.00 7.68
2016-03-31 1,274.15 251.27 2.34
2015-12-31 1,299.75 230.09 2.53
2015-09-30 1,399.98 224.31 4.16
2015-06-30 1,462.94 227.83 4.29
2015-03-31 1,062.20 215.73 2.13
2014-12-31 936.26 179.85 2.08
2014-09-30 957.33 141.33 2.10
2014-06-30 945.17 137.74 1.89
2014-03-31 927.04 94.52 1.88
2013-12-31 921.24 85.00 15.65
2013-09-30 943.28 91.57 1.96
2013-06-30 547.47 0.00 20.97
2013-03-31 543.31 0.00 35.95
  • TORC Oil & Gas's level of debt (21.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (19.2% vs 21.4% 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 TORC Oil & Gas has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making TORC Oil & Gas has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -55.3% per year.
X
Financial health checks
We assess TORC Oil & Gas'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. TORC Oil & Gas has a total score of 3/6, 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.

TOG Dividends

 What is TORC Oil & Gas'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
48.6%
Current annual income from TORC Oil & Gas dividends. Estimated to be 26.25% next year.
If you bought CA$2,000 of TORC Oil & Gas shares you are expected to receive CA$972 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?
  • TORC Oil & Gas's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.75%).
  • TORC Oil & Gas's dividend is above the markets top 25% of dividend payers in Canada (8.79%).
Upcoming dividend payment

Purchase TORC Oil & Gas before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:TOG 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 3 Analyst Estimates (S&P Global) See Below
Canada Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 37 Stocks 8.6%
Canada Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 4.9%
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 8.8%

Industry and Market average data is calculated daily.

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

TSX:TOG Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.06 1.00
2022-12-31 0.06 1.00
2021-12-31 0.14 11.00
2020-12-31 0.17 13.00
2020-03-28
TSX:TOG Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2020-03-16 0.277 50.680
2020-02-18 0.300 13.555
2020-01-15 0.300 7.411
2019-12-11 0.300 6.760
2019-11-15 0.300 7.951
2019-10-15 0.300 8.379
2019-09-16 0.300 7.933
2019-08-15 0.300 8.636
2019-07-15 0.300 7.948
2019-06-17 0.300 7.212
2019-05-15 0.300 7.155
2019-04-15 0.264 5.426
2019-03-15 0.264 5.654
2019-02-15 0.264 5.827
2019-01-15 0.264 5.833
2018-12-11 0.264 5.959
2018-11-15 0.264 5.485
2018-10-15 0.264 4.934
2018-09-17 0.264 4.093
2018-08-15 0.264 3.829
2018-07-16 0.264 3.474
2018-06-15 0.264 3.536
2018-05-08 0.264 3.484
2018-04-16 0.240 3.300
2018-03-15 0.240 3.644
2018-02-15 0.240 3.893
2018-01-15 0.240 3.531
2017-12-15 0.240 3.229
2017-11-15 0.240 3.513
2017-10-16 0.240 3.732
2017-09-15 0.240 3.972
2017-08-15 0.240 4.604
2017-07-17 0.240 4.372
2017-06-15 0.240 4.879
2017-05-15 0.240 4.322
2017-04-17 0.240 3.957
2017-03-15 0.240 3.584
2017-02-15 0.240 3.350
2017-01-16 0.240 3.292
2016-12-15 0.240 2.961
2016-11-15 0.240 3.000
2016-10-14 0.240 3.027
2016-09-15 0.240 3.032
2016-08-15 0.240 3.012
2016-07-15 0.240 3.207
2016-06-15 0.240 2.974
2016-05-16 0.240 2.899
2016-04-15 0.240 2.861
2016-03-15 0.240 3.142
2016-02-16 0.240 3.766
2016-01-15 0.540 11.116
2015-12-14 0.540 11.205
2015-11-13 0.540 8.993
2015-10-15 0.540 8.019
2015-09-15 0.540 8.424
2015-08-14 0.540 9.620
2015-07-15 0.540 7.636
2015-06-15 0.540 6.159
2015-05-15 0.540 5.666
2015-04-16 0.540 5.226
2015-03-13 0.540 5.376
2015-02-13 0.540 5.701
2015-01-15 0.540 6.436
2014-12-16 0.540 7.239
2014-11-14 0.540 6.198
2014-10-15 0.540 4.977
2014-09-15 0.540 4.460
2014-08-15 0.540 3.821
2014-07-15 0.540 4.016
2014-06-16 0.540 3.683
2014-05-15 0.540 3.737
2014-04-15 0.540 4.025
2014-03-17 0.540 4.435
2014-02-18 0.540 4.978
2014-01-15 0.540 5.347
2013-12-16 0.540 5.174
2013-11-15 0.500 4.836
2013-10-15 0.500 5.081
2013-09-16 0.500 5.827

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

  • Whilst dividend payments have been stable, TORC Oil & Gas has been paying a dividend for less than 10 years.
  • TORC Oil & Gas has only been paying a dividend for 7 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of TORC Oil & Gas's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess TORC Oil & Gas'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 TORC Oil & Gas afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. TORC Oil & Gas has a total score of 3/6, see the detailed checks below.


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

TOG Management

 What is the CEO of TORC Oil & Gas'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
Brett Herman
COMPENSATION CA$2,487,922
AGE 51
CEO Bio

Mr. Brett Herman, CA, serves as the President and Chief Executive Officer of TORC Oil & Gas Ltd. Mr. Herman serves as the Chief Executive Officer and President of PetroPembina Exploration Ltd. Mr. Herman served as the Chief Executive Officer of Tristar Oil & Gas Ltd. since August 2006 and served as its President since January 2006. Mr. Herman served as the Chief Executive Officer at Old TriStar from August 14, 2006 to August 2007 and Chief Operating Officer from September 30, 2005 to August 14, 2006. From September 2003 to January 2005, he served as Chief Financial Officer and Vice President, Finance of StarPoint Energy Ltd., the Administrator of StarPoint Energy Trust. From April 2003 to August 2003, he was an Independent Businessman. He served as Chief Financial Officer and Vice President of Finance at StarPoint Energy Trust. He served as Controller of Baytex Energy Ltd until January 2006. From September 2001 to March 2003, he served as Vice-President and Controller of Navigo Energy Ltd. (formerly, Ventus Energy Ltd.). He served as the Chief Operating Officer of Tristar Oil & Gas Ltd. From June 1999 to August 2001, Mr. Herman served as Controller of Ventus Energy Ltd. He has been a Director of Petroshale Inc. since March 8, 2012. He serves as a Director of Result Energy Inc. He has been a Director of TORC Oil & Gas Ltd. since November 19, 2012. He served as a Director of PetroBakken Energy Limited and Algonquin Oil and Gas Limited. Mr. Herman is a graduate of the University of Lethbridge.

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

Brett Herman

TITLE
President
COMPENSATION
CA$2M
AGE
51

Jason Zabinsky

TITLE
VP of Finance & CFO
COMPENSATION
CA$1M

Shane Manchester

TITLE
Vice President of Operations
COMPENSATION
CA$976K
TENURE
7.2 yrs

Marvin Tang

TITLE
VP & Controller
TENURE
4 yrs
Board of Directors Tenure

Average tenure and age of the TORC Oil & Gas board of directors in years:

6.5
Average Tenure
60
Average Age
  • The tenure for the TORC Oil & Gas board of directors is about average.
Board of Directors

Dave Johnson

TITLE
Independent Chairman
COMPENSATION
CA$190K
AGE
68
TENURE
6.3 yrs

Brett Herman

TITLE
President
COMPENSATION
CA$2M
AGE
51
TENURE
7.3 yrs

John Brussa

TITLE
Independent Director
COMPENSATION
CA$185K
AGE
62
TENURE
7.3 yrs

John Gordon

TITLE
Independent Director
COMPENSATION
CA$5K
AGE
62
TENURE
1.3 yrs

M. Chernoff

TITLE
Independent Director
COMPENSATION
CA$180K
AGE
53
TENURE
7.3 yrs

Dale Shwed

TITLE
Independent Director
COMPENSATION
CA$185K
AGE
60
TENURE
7.3 yrs

R. Lawrence

TITLE
Independent Director
COMPENSATION
CA$180K
AGE
45
TENURE
6.5 yrs

Mary-Jo Case

TITLE
Independent Director
COMPENSATION
CA$180K
AGE
60
TENURE
2.2 yrs

Catharine de Lacy

TITLE
Director
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by TORC Oil & Gas individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
23. Mar 20 Buy Jeremy Wallis Individual 23. Mar 20 23. Mar 20 18,000 CA$0.50 CA$9,000
23. Mar 20 Buy Alexander Brown Individual 23. Mar 20 23. Mar 20 27,000 CA$0.49 CA$13,230
20. Mar 20 Buy Michael Wihak Individual 20. Mar 20 20. Mar 20 32,000 CA$0.60 CA$19,200
20. Mar 20 Buy Jason Zabinsky Individual 20. Mar 20 20. Mar 20 20,000 CA$0.59 CA$11,800
20. Mar 20 Buy Brett Herman Individual 19. Mar 20 20. Mar 20 50,000 CA$0.60 CA$29,328
19. Mar 20 Buy Jason Zabinsky Individual 19. Mar 20 19. Mar 20 42,250 CA$0.52 CA$21,195
19. Mar 20 Buy Jeremy Wallis Individual 19. Mar 20 19. Mar 20 15,625 CA$0.57 CA$8,906
18. Mar 20 Buy Jason Zabinsky Individual 18. Mar 20 18. Mar 20 27,500 CA$0.45 CA$6,889
10. Mar 20 Buy John Gordon Individual 10. Mar 20 10. Mar 20 15,000 CA$1.71 CA$25,650
04. Mar 20 Buy Catharine de Lacy Individual 04. Mar 20 04. Mar 20 13,253 CA$3.34 CA$44,253
27. Jan 20 Sell Jason Zabinsky Individual 20. Jan 20 23. Jan 20 -4,483 CA$4.42 CA$-19,470
27. Jan 20 Buy Jason Zabinsky Individual 20. Jan 20 23. Jan 20 4,483 CA$4.42 CA$19,470
15. Jan 19 Buy Catharine de Lacy Individual 15. Jan 20 15. Jan 20 10,040 CA$4.49 CA$45,054
09. Jan 20 Buy John Gordon Individual 07. Jan 20 07. Jan 20 10,000 CA$4.55 CA$45,500
16. Dec 19 Sell Marvin Tang Individual 13. Dec 19 16. Dec 19 -100,000 CA$4.28 CA$-427,374
12. Aug 19 Buy Mary-Jo Case Individual 08. Aug 19 08. Aug 19 5,270 CA$3.54 CA$18,656
13. May 19 Sell Jason Zabinsky Individual 09. May 19 09. May 19 -14,237 CA$4.72 CA$-67,199
13. May 19 Buy Jason Zabinsky Individual 09. May 19 09. May 19 14,237 CA$4.72 CA$67,199
X
Management checks
We assess TORC Oil & Gas'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. TORC Oil & Gas 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.

TOG News

Simply Wall St News

If You Had Bought TORC Oil & Gas (TSE:TOG) Stock Five Years Ago, You'd Be Sitting On A 78% Loss, Today

We also note that the stock has performed poorly over the last year, with the share price down 57%. … During five years of share price growth, TORC Oil & Gas moved from a loss to profitability. … As it happens, TORC Oil & Gas's TSR for the last 5 years was -72%, which exceeds the share price return mentioned earlier.

Simply Wall St -

Don't Sell TORC Oil & Gas Ltd. (TSE:TOG) Before You Read This

We'll look at TORC Oil & Gas Ltd.'s (TSE:TOG) P/E ratio and reflect on what it tells us about the company's share price. … The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for TORC Oil & Gas: P/E of 44.32 = CA$3.31 ÷ CA$0.075 (Based on the year to June 2019.) Is A High Price-to-Earnings Ratio Good? … TSX:TOG Price Estimation Relative to Market, August 15th 2019 Its relatively high P/E ratio indicates that TORC Oil & Gas shareholders think it will perform better than other companies in its industry classification.

Simply Wall St -

Calculating The Fair Value Of TORC Oil & Gas Ltd. (TSE:TOG)

A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate: 10-year free cash flow (FCF) estimate 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Levered FCF (CA$, Millions) CA$141.2m CA$78.5m CA$90.0m CA$76.0m CA$68.2m CA$63.7m CA$61.1m CA$59.7m CA$59.1m CA$59.1m Growth Rate Estimate Source Analyst x3 Analyst x2 Analyst x1 Est @ -15.54% Est @ -10.3% Est @ -6.62% Est @ -4.05% Est @ -2.25% Est @ -0.99% Est @ -0.11% Present Value (CA$, Millions) Discounted @ 8.55% CA$130.1 CA$66.6 CA$70.4 CA$54.7 CA$45.2 CA$38.9 CA$34.4 CA$31.0 CA$28.2 CA$26.0 ("Est" = FCF growth rate estimated by Simply Wall St) Present Value of 10-year Cash Flow (PVCF)= CA$525.5m The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = CA$59m × (1 + 1.9%) ÷ (8.6% – 1.9%) = CA$911m Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = CA$CA$911m ÷ ( 1 + 8.6%)10 = CA$400.98m The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is CA$926.52m. … TSX:TOG Intrinsic value, August 5th 2019 Important assumptions We would point out that the most important inputs to a discounted cash flow are the discount rate and of course the actual cash flows.

Simply Wall St -

Should Income Investors Look At TORC Oil & Gas Ltd. (TSE:TOG) Before Its Ex-Dividend?

See our latest analysis for TORC Oil & Gas If a company pays out more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. … It's disappointing to see that the dividend was not covered by profits, but cash is more important from a dividend sustainability perspective, and TORC Oil & Gas fortunately did generate enough cash to fund its dividend. … It's good to see earnings per share growing and low cashflow payout ratio, although we're uncomfortable with TORC Oil & Gas's paying out such a high percentage of its profit.

Simply Wall St -

Is TORC Oil & Gas (TSE:TOG) Using Too Much Debt?

TSX:TOG Historical Debt, July 22nd 2019 How Strong Is TORC Oil & Gas's Balance Sheet? … Because it carries more debt than cash, we think it's worth watching TORC Oil & Gas's balance sheet over time. … Our View Happily, TORC Oil & Gas's impressive conversion of EBIT to free cash flow implies it has the upper hand on its debt.

Simply Wall St -

Is TORC Oil & Gas Ltd.'s (TSE:TOG) CEO Being Overpaid?

Check out our latest analysis for TORC Oil & Gas How Does Brett Herman's Compensation Compare With Similar Sized Companies? … We looked at a group of companies with market capitalizations from CA$529m to CA$2.1b, and the median CEO total compensation was CA$2.0m. … Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.

Simply Wall St -

Is TORC Oil & Gas Ltd.'s (TSE:TOG) 7.6% Dividend Worth Your Time?

TSX:TOG Historical Dividend Yield, June 6th 2019 Payout ratios Dividends are typically paid from company earnings. … As TORC Oil & Gas's dividend was not well covered by earnings, we need to check its balance sheet for signs of financial distress. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see TORC Oil & Gas has grown its earnings per share at 21% per annum over the past five years. Earnings per share have been growing very rapidly, although the company is also paying out virtually all of its profit in dividends. While EPS could grow fast enough to make the dividend sustainable, in this type of situation, we'd want to pay extra attention to any fragilities in the company's balance sheet. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing.

Simply Wall St -

Why I Like TORC Oil & Gas Ltd. (TSE:TOG)

Investors have the opportunity to buy into the stock to reap capital gains, if TOG's projected earnings trajectory does follow analyst consensus growth, which determines my intrinsic value of the company. … Go into more detail in the past track record analysis and take a look at the free visual representations of our analysis for more clarity. … Take a look at our free balance sheet analysis with six simple checks on key factors like leverage and risk.

Simply Wall St -

TORC Oil & Gas Ltd. (TSE:TOG): What Does The Future Look Like?

Help shape the future of investing tools and you could win a $250 gift card! … (TSE:TOG) announced its earnings update. … with earnings expected to grow by a high double-digit of 94% in the upcoming year,

Simply Wall St -

Did Changing Sentiment Drive TORC Oil & Gas's (TSE:TOG) Share Price Down A Worrying 65%?

One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During five years of share price growth, TORC Oil & Gas moved from a loss to profitability. … We note that the dividend has fallen in the last five years, so that may have contributed to the share price decline.

Simply Wall St -

TOG Company Info

Description

TORC Oil & Gas Ltd. engages in the exploration and production of petroleum and natural gas in the Western Canadian Sedimentary Basin. The company’s principal properties are located in the southeast Saskatchewan area. TORC Oil & Gas Ltd. was founded in 2010 and is headquartered in Calgary, Canada.

Details
Name: TORC Oil & Gas Ltd.
TOG
Exchange: TSX
Founded: 2010
CA$133,322,372
222,203,954
Website: http://www.torcoil.com
Address: TORC Oil & Gas Ltd.
Eighth Avenue Place,
Suite 1800,
Calgary,
Alberta, T2P 1G1,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX TOG Class A Voting Common Shares The Toronto Stock Exchange CA CAD 20. Nov 2012
OTCPK VREY.F Class A Voting Common Shares Pink Sheets LLC US USD 20. Nov 2012
DB FVEN Class A Voting Common Shares Deutsche Boerse AG DE EUR 20. Nov 2012
Number of employees
Current staff
Staff numbers
98
TORC Oil & Gas 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 04:42
End of day share price update: 2020/03/27 00:00
Last estimates confirmation: 2020/03/27
Last earnings filing: 2020/02/27
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.