Tenaz Energy (TSE:TNZ) Shares Down 4.4% – Here’s Why

Tenaz Energy Corp. (TSE:TNZ)’s stock price dropped 4.4% on Friday . The stock traded as low as C$59.37 and last traded at C$59.37. Approximately 161,486 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 248,966 shares. The stock had previously closed at C$62.12.

Analyst Upgrades and Downgrades

TNZ has been the topic of several recent research reports. Haywood Securities increased their price objective on shares of Tenaz Energy from C$55.00 to C$70.00 in a research note on Monday, March 16th. Canadian Imperial Bank of Commerce set a C$80.00 target price on shares of Tenaz Energy and gave the stock an “outperform” rating in a research note on Wednesday, April 8th. Finally, National Bank Financial raised their target price on shares of Tenaz Energy from C$52.00 to C$66.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Tenaz Energy has a consensus rating of “Buy” and an average price target of C$72.00.

Tenaz Energy Stock Performance

The company has a debt-to-equity ratio of 114.55, a quick ratio of 2.77 and a current ratio of 0.69. The business’s fifty day simple moving average is C$59.64 and its 200-day simple moving average is C$40.30. The firm has a market capitalization of C$1.92 billion, a PE ratio of 8.82 and a beta of 0.98.

Tenaz Energy (TSE:TNZ) last posted its earnings results on Thursday, May 7th. The company reported C($3.48) earnings per share for the quarter. Tenaz Energy had a net margin of 52.13% and a return on equity of 61.60%. The business had revenue of C$262.32 million during the quarter. As a group, equities research analysts expect that Tenaz Energy Corp. will post 0.3896418 EPS for the current year.

Tenaz Energy Company Profile

Tenaz Energy Corp. (TSX:TNZ) is a public energy company focused on the acquisition and sustainable development of international oil and gas assets capable of returning free cash flow to shareholders.Tenaz has domestic operations in Canada along with offshore gas assets in the Netherlands. The domestic operations consist of a semi-conventional oil project in the Rex member of the Upper Mannville group at Leduc-Woodbend in central Alberta. The Netherlands gas assets are located in the Dutch sector of the North Sea.