Twin Butte Energy Rating Lowered to Hold at TD Securities (TBE)
Twin Butte Energy (TSE:TBE) was downgraded by equities research analysts at TD Securities from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Analyst Ratings.Net reports. They currently have a C$2.50 price target on the stock, down from their previous price target of C$3.25. TD Securities’ price objective would suggest a potential upside of 34.41% from the stock’s previous close.
A number of other firms have also recently commented on TBE. Analysts at Scotiabank cut their price target on shares of Twin Butte Energy from C$3.00 to C$2.30 in a research note on Wednesday. They now have a “sector perform” rating on the stock. Separately, analysts at CIBC cut their price target on shares of Twin Butte Energy from C$2.50 to C$2.25 in a research note on Wednesday. Finally, analysts at Paradigm Capital cut their price target on shares of Twin Butte Energy from C$3.00 to C$2.75 in a research note on Tuesday, April 22nd. They now have a “buy” rating on the stock. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of C$2.56.
Twin Butte Energy (TSE:TBE) traded down 17.33% on Wednesday, hitting $1.86. 48,078,260 shares of the company’s stock traded hands. Twin Butte Energy has a 52-week low of $1.60 and a 52-week high of $2.50. The stock has a 50-day moving average of $2.34 and a 200-day moving average of $2.27. The company’s market cap is $641.8 million.
The company also recently declared a apr 14 dividend, which is scheduled for Thursday, May 15th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.016 per share. The ex-dividend date of this dividend is Monday, April 28th.
Twin Butte Energy Ltd. (TSE:TBE) is a Canada-based junior oil and gas exploration and production company.
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