BMO Capital Markets Issues Positive Forecast for Tenaz Energy (TSE:TNZ) Stock Price

Key Points

• BMO Capital Markets raised Tenaz Energy’s price target to C$75 from C$70, implying 35.55% potential upside from the current share price.
• National Bank Financial also increased its target to C$91 and maintained an “outperform” rating; analysts collectively rate Tenaz Energy “Buy,” with a consensus target of C$79.
• Tenaz reported quarterly EPS of C$2.58 on C$156.69 million in revenue, while shares recently traded at C$55.33. An insider also purchased 2,000 shares, and insiders own 8.41% of the company.

Tenaz Energy (TSE:TNZ - Get Free Report) had its target price increased by equities researchers at BMO Capital Markets from C$70.00 to C$75.00 in a research note issued to investors on Friday,BayStreet.CA reports. BMO Capital Markets' price target would indicate a potential upside of 35.55% from the company's current price.

Separately, National Bank Financial lifted their price target on shares of Tenaz Energy from C$90.00 to C$91.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Tenaz Energy presently has a consensus rating of "Buy" and a consensus price target of C$79.00.

Tenaz Energy Trading Up 1.8%

Shares of TNZ stock traded up C$0.96 on Friday, reaching C$55.33. 47,798 shares of the stock were exchanged, compared to its average volume of 223,657. The company has a debt-to-equity ratio of 114.55, a current ratio of 0.69 and a quick ratio of 2.77. Tenaz Energy has a one year low of C$18.55 and a one year high of C$69.10. The stock has a market cap of C$1.82 billion, a PE ratio of 8.22 and a beta of 0.89. The stock has a 50 day moving average price of C$50.98 and a 200 day moving average price of C$52.50.

Tenaz Energy (TSE:TNZ - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$2.58 earnings per share (EPS) for the quarter. The business had revenue of C$156.69 million for the quarter. Tenaz Energy had a return on equity of 61.60% and a net margin of 52.13%. Equities research analysts forecast that Tenaz Energy will post 0.3896418 EPS for the current fiscal year.

Insider Activity

In related news, insider Jonathan Balkwill purchased 2,000 shares of the stock in a transaction dated Thursday, May 28th. The stock was bought at an average cost of C$50.24 per share, with a total value of C$100,480.00. Following the purchase, the insider directly owned 117,795 shares in the company, valued at C$5,918,020.80. The trade was 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'.

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