Talisman Energy Downgraded to Neutral at Credit Suisse (TLM)

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Credit Suisse cut shares of Talisman Energy (NYSE:TLM) from an outperform rating to a neutral rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports.

Credit Suisse has also taken action a number of other basic materials stocks recently. The firm downgraded shares of Siliconware Precisio from an outperform rating to a neutral rating. Also, Credit Suisse upgraded shares of Open Text from a neutral rating to an outperform rating. Credit Suisse now has a $65.00 price target on that stock, up previously from $61.00. Finally, Credit Suisse initiated coverage on shares of BreitBurn Energy Partners L.P.. They issued a neutral rating on that stock.

Talisman Energy (NYSE:TLM) traded down 3.31% on Wednesday, hitting $10.50. The stock had a trading volume of 6,064,073 shares. Talisman Energy has a 52-week low of $9.63 and a 52-week high of $13.38. The stock’s 50-day moving average is $10.44 and its 200-day moving average is $10.45. The company’s market cap is $10.857 billion.

Talisman Energy (NYSE:TLM) last issued its quarterly earnings data on Tuesday, July 29th. The company reported ($0.23) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.06 by $0.29. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the company posted $0.06 earnings per share. Analysts expect that Talisman Energy will post $0.28 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.0675 per share. This represents a $0.27 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, September 11th.

Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a neutral rating on shares of Talisman Energy in a research note on Thursday, July 24th. They now have a $12.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a hold rating on shares of Talisman Energy in a research note on Friday, July 18th. They now have a $14.00 price target on the stock, up previously from $13.00. Finally, analysts at CIBC cut their price target on shares of Talisman Energy from $11.75 to $11.25 in a research note on Thursday, July 17th. They now have a sector perform rating on the stock. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $12.63.

Talisman Energy Inc (NYSE:TLM), is an oil and gas producers, through a combination of exploration, development and acquisitions.

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