Market Chatter: Trilogy Energy Climbs on Increasing Cash Flows; Shares Jump 13%, Nearer Yr Highs
"Trilogy Energy Corp. (TET.TO) rose the most in 21 months after the Canadian oil and natural gas producer boosted cash flow and reserves in the fourth quarter," Bloomberg reported.
Trilogy was up 13% to C$29.50 and had hit a day high $29.75 in late Toronto trading, leaving it shy of a year high $30.25.
Bloomberg reported: "Funds flow from operations increased 71% to C$80.5 million in the fourth quarter from the previous period, Calgary-based Trilogy said yesterday in a statement released after the close of regular trading. Analysts at Peters & Co. said per-share cash flow was 70 cents, beating its 65-cent estimate. "
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.