Shares of TAG Oil Ltd. (CVE:TAO – Get Free Report) traded down 11.1% during trading on Wednesday. The stock traded as low as C$0.04 and last traded at C$0.04. Approximately 3,074,959 shares were traded during mid-day trading, an increase of 401% from the average daily volume of 614,326 shares. The stock had previously closed at C$0.04.
TAG Oil Stock Performance
The firm has a 50 day moving average of C$0.08 and a two-hundred day moving average of C$0.09. The stock has a market cap of C$15.40 million, a P/E ratio of -4.50 and a beta of -0.33.
Insider Buying and Selling at TAG Oil
In related news, Director Abdel Fattah Badwi acquired 1,095,000 shares of the stock in a transaction dated Thursday, October 22nd. The shares were bought at an average cost of C$0.05 per share, for a total transaction of C$54,750.00. Following the purchase, the director owned 15,010,000 shares in the company, valued at approximately C$750,500. This trade represents a 7.87% increase in their position. Corporate insiders own 8.15% of the company’s stock.
TAG Oil Company Profile
TAG Oil Ltd., together with its subsidiaries, engages in the exploration, development, and production of oil and gas in Canada, the Middle East, and North Africa. The company was formerly known as Durum Cons. Energy Corp. and changed its name to TAG Oil Ltd. in June 2002. The company was incorporated in 1990 and is headquartered in Vancouver, Canada.
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