Meren Energy (TSE:MER – Get Free Report) released its earnings results on Tuesday. The company reported C$0.07 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$279.47 million for the quarter.
Meren Energy Price Performance
Shares of TSE:MER opened at C$2.21 on Thursday. Meren Energy has a 1 year low of C$1.65 and a 1 year high of C$2.58. The company has a market capitalization of C$1.49 billion, a PE ratio of -10.05 and a beta of 0.23. The company has a 50 day moving average price of C$2.04.
Analysts Set New Price Targets
Separately, Scotiabank cut Meren Energy from a “strong-buy” rating to a “hold” rating and set a C$2.50 price target on the stock. in a research report on Friday, July 17th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Meren Energy presently has an average rating of “Hold” and an average price target of C$2.50.
About Meren Energy
Meren is a full-cycle Independent upstream oil and gas company with interests offshore Nigeria, Namibia, South Africa and Equatorial Guinea. Its main assets are producing and development assets in deepwater Nigeria. The Company holds a leading position in the Orange Basin including its effective interest in the Venus light oil project, offshore Namibia, and its direct interest in Block 3B/4B, offshore South Africa.
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