CIBC Initiates Coverage on Talisman Energy (TLM)

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CIBC began coverage on shares of Talisman Energy (NYSE:TLM) in a report released on Tuesday, TheFlyOnTheWall.com reports. The firm issued an underperform rating on the stock.

CIBC has also updated their ratings on a number of other basic materials stocks in the last week. The firm raised its price target on shares of Silver Standard Resources Inc. from $11.00 to $11.50. Also, CIBC upgraded shares of Pan American Silver Corp. from an underperform rating to a sector perform rating. CIBC now has a $15.25 price target on that stock, up previously from $10.00.

Shares of Talisman Energy (NYSE:TLM) traded down 0.91% on Tuesday, hitting $9.77. The stock had a trading volume of 1,315,794 shares. Talisman Energy has a one year low of $9.73 and a one year high of $13.38. The stock has a 50-day moving average of $10.39 and a 200-day moving average of $11.39. The company’s market cap is $10.078 billion.

Talisman Energy (NYSE:TLM) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by $0.10. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the company posted ($0.10) earnings per share. The company’s revenue for the quarter was down 44.1% on a year-over-year basis. On average, analysts predict that Talisman Energy will post $0.21 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $0.0675 per share. This represents a $0.27 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Thursday, March 6th.

A number of other analysts have also recently weighed in on TLM. Analysts at Zacks downgraded shares of Talisman Energy from a neutral rating to an underperform rating in a research note on Tuesday, March 4th. They now have a $9.25 price target on the stock. Separately, analysts at Tudor Pickering downgraded shares of Talisman Energy from a buy rating to an accumulate rating in a research note on Friday, January 24th. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $12.42.

Talisman Energy Inc (NYSE:TLM) is a global, diversified, upstream oil and gas company.

To view CIBC’s full report, visit CIBC’s official website.

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