Tenaz Energy (TSE:TNZ) Shares Climb 1.5% – Here’s Why

Shares of Tenaz Energy Corp. (TSE:TNZ) shot up 1.5% on Wednesday. The company traded as high as C$71.50 and last traded at C$71.06. 46,111 shares traded hands during trading, a decline of 78% from the average session volume of 209,727 shares. The stock had previously closed at C$70.01.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. National Bank Financial lifted their target price on Tenaz Energy from C$91.00 to C$100.00 and gave the company an “outperform” rating in a research note on Wednesday, September 30th. BMO Capital Markets increased their price target on shares of Tenaz Energy from C$70.00 to C$75.00 in a research report on Friday, August 7th. Three investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$81.25.

Tenaz Energy Stock Up 4.5%

The company’s fifty day simple moving average is C$66.76 and its 200-day simple moving average is C$59.07. The firm has a market capitalization of C$2.48 billion, a PE ratio of 20.00 and a beta of 0.95. The company has a debt-to-equity ratio of 100.16, a current ratio of 0.89 and a quick ratio of 2.77.

Tenaz Energy (TSE:TNZ) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$2.58 earnings per share for the quarter. Tenaz Energy had a return on equity of 29.50% and a net margin of 22.09%. The firm had revenue of C$156.69 million during the quarter. On average, analysts forecast that Tenaz Energy Corp. will post 0.39 EPS for the current year.

About Tenaz Energy

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’.