Tenaz Energy (TSE:TNZ) Trading 1.7% Higher – Here’s Why

Tenaz Energy Corp. (TSE:TNZ) shares shot up 1.7% during trading on Wednesday . The company traded as high as C$56.24 and last traded at C$53.97. 93,437 shares were traded during trading, a decline of 59% from the average daily volume of 228,407 shares. The stock had previously closed at C$53.06.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Canadian Imperial Bank of Commerce set a C$80.00 target price on Tenaz Energy and gave the stock an “outperform” rating in a research report on Wednesday, April 8th. BMO Capital Markets set a C$70.00 price target on shares of Tenaz Energy and gave the stock an “outperform” rating in a research report on Thursday. Finally, National Bank Financial increased their price objective on shares of Tenaz Energy from C$90.00 to C$91.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$77.75.

Tenaz Energy Price Performance

The business’s 50-day simple moving average is C$50.74 and its 200 day simple moving average is C$51.69. The company has a market capitalization of C$1.84 billion, a P/E ratio of 8.36 and a beta of 0.93. The company has a current ratio of 0.69, a quick ratio of 2.77 and a debt-to-equity ratio of 114.55.

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

Insider Transactions at Tenaz Energy

In other news, insider Jonathan Balkwill purchased 2,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was purchased at an average cost of C$50.24 per share, with a total value of C$100,480.00. Following the purchase, the insider owned 117,795 shares in the company, valued at C$5,918,020.80. This trade represents a 1.73% increase in their position. Insiders own 8.41% of the company’s stock.

Tenaz Energy Company Profile

Tenaz Energy Corp. is an energy company focused on the acquisition and sustainable development of international oil and gas assets. Tenaz is the largest natural gas producer in the Netherlands and develops crude oil and natural gas at Leduc-Woodbend in Alberta. Additional information regarding Tenaz is available on SEDAR+ and at www.tenazenergy.com. Tenaz’s Common Shares are listed for trading on the Toronto Stock Exchange under the symbol ‘TNZ’.