Valeura Energy (TSE:VLE) Stock Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Valeura Energy Inc. (TSE:VLE) passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of C$12.74 and traded as high as C$15.17. Valeura Energy shares last traded at C$15.03, with a volume of 265,594 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on VLE shares. Roth Capital raised Valeura Energy to a “strong-buy” rating in a research report on Tuesday, September 22nd. ATB Cormark Capital Markets increased their price objective on Valeura Energy from C$18.50 to C$19.50 and gave the company an “outperform” rating in a research note on Thursday, September 17th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat, Valeura Energy has a consensus rating of “Buy” and a consensus price target of C$19.50.

Valeura Energy Stock Up 2.0%

The firm’s 50 day moving average is C$13.54 and its 200-day moving average is C$12.76. The firm has a market cap of C$1.63 billion, a PE ratio of 26.43 and a beta of -2.07. The company has a quick ratio of 3.37, a current ratio of 2.78 and a debt-to-equity ratio of 11.22.

Valeura Energy Company Profile

Valeura Energy Inc is an upstream oil & gas company, with a clear strategy to add value for shareholders through growth. The Company is expanding operations organically and through acquisitions in Southeast Asia, focussing on assets with immediate or substantial near-term cash flow, with imbedded reinvestment opportunities.