TAG Oil (CVE:TAO) Shares Down 8.6% – What’s Next?

TAG Oil Ltd. (CVE:TAO)’s share price fell 8.6% during trading on Friday . The company traded as low as C$0.16 and last traded at C$0.16. 189,450 shares traded hands during trading, an increase of 2% from the average session volume of 186,636 shares. The stock had previously closed at C$0.18.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TAO shares. Haywood Securities upgraded TAG Oil to a “strong-buy” rating in a report on Thursday, August 15th. Ventum Cap Mkts upgraded TAG Oil to a “strong-buy” rating in a research note on Monday, July 8th.

TAG Oil Price Performance

The stock has a market capitalization of C$29.62 million, a price-to-earnings ratio of -3.20 and a beta of -0.05. The company’s 50 day simple moving average is C$0.28.

TAG Oil (CVE:TAO) last announced its quarterly earnings data on Thursday, August 29th. The company reported C($0.01) EPS for the quarter. On average, sell-side analysts expect that TAG Oil Ltd. will post 0.1306306 EPS for the current fiscal year.

About TAG Oil

TAG Oil Ltd., together with its subsidiaries, engages in the exploration, development, and production of oil and gas in Canada, the Middle East, and North Africa. The company was formerly known as Durum Cons. Energy Corp. and changed its name to TAG Oil Ltd. in June 2002. The company was incorporated in 1990 and is headquartered in Vancouver, Canada.