Talisman Downgraded to Strong Sell - Analyst Blog
11 Gennaio 2013 - 5:30PM
Zacks
Zacks Investment Research
downgraded Talisman Energy Inc. (TLM) to a Zacks
Rank #5 (Strong Sell) on Jan 9.
Why the Downgrade?
Talisman Energy witnessed sharp downward estimate revisions after
reporting disappointing third-quarter 2012 results. In fact, this
Canadian energy explorer delivered negative earnings surprises in
the last 4 quarters with an average miss of 82.39%. The long-term
expected sales growth rate for this stock is negative 1.95%.
On October 30, 2012, Talisman Energy reported third-quarter 2012
loss per share of 9 cents against the Zacks Consensus Estimate of
earnings of 6 cents and the year-ago earnings of 24 cents per
share.
The loss was mainly due to lower price realizations. Talisman’s
realized commodity prices dropped 12.50% from the year-ago quarter
to $57.19 per barrel of oil equivalent (BOE) mainly on account of
sharply lower North American realizations. Overall, natural gas
prices declined 19.2% year over year to $4.89 per Mcf, while oil
and liquids realizations averaged $101.89 per barrel, down 6.3%
from the year-ago level.
Also, cash flow from continuing operations during the quarter
totaled $693.0 million, down 23.2% from the third quarter of
2011.
For 2012, most of the estimates (9 out of 12) were revised downward
over the last 60 days, lowering the Zacks Consensus Estimate by
5.4% to 35 cents per share.
Other Stocks to Consider
Not all energy stocks are performing as poorly as Talisman
Energy. The stocks of Lone Pine Resources
Inc. (LPR) and Cabot Oil & Gas
Corporation (COG) are worth considering. Both carry a
Zacks Rank #1 (Strong Buy).
CABOT OIL & GAS (COG): Free Stock Analysis Report
LONE PINE RSRCS (LPR): Free Stock Analysis Report
TALISMAN ENERGY (TLM): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
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