Valeura Energy (VLE) Trading Up 9.8% on Earnings Beat
Valeura Energy Inc. (TSE:VLE)’s share price was up 9.8% during trading on Thursday following a stronger than expected earnings report. The company traded as high as C$2.82 and last traded at C$2.80. Approximately 173,885 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 214,152 shares. The stock had previously closed at C$2.55.
The company reported C($0.01) earnings per share for the quarter, topping the consensus estimate of C($0.02) by C$0.01. The company had revenue of C$3.15 million during the quarter.
The stock has a market capitalization of $230.85 million and a price-to-earnings ratio of -29.13.
Valeura Energy Inc engages in the exploration, development, and production of petroleum and natural gas properties in Turkey. The company has interests in various oil and gas properties primarily located in the Thrace Basin located in northwest Turkey. As of December 31, 2017, it had interests in 91 gross producing wells.
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