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You’re reading a free article with opinions that may differ from The Motley Fool’s premium investing services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources , and more. Learn More If you are looking for beaten-down names in the Canadian energy space, natural gas giant Tourmaline Oil ( TSX:TOU ) is an appealing bet. After returning a massive 80% in 2022, it has been on a downtrend and has lost 30% since last November. But it seems to have already hit bottom and could change course soon. Here are some of the reasons why this is a great deal. Tourmaline Oil: Strong operational and financial performance Tourmaline Oil expects to report $2 billion in free cash flows this year. Of which, 50-90% will be allocated to shareholder returns. The company has already stated that special dividends will be its preferred way to distribute its excess cash. So, investors can again expect a flurry of special dividends from Tourmaline this year. In my view, Tourmaline’s specials will be lower than last year, considering its recent March cash flow guidance and lower gas prices. However, it is still in a […]
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