Saturn Oil & Gas Completes Substantial Issuer Bid and Plans to Resume Share Buybacks

Saturn Oil & Gas ( (TSE:SOIL) ) has provided an update.

Saturn Oil & Gas Inc. announced the results of its substantial issuer bid, purchasing 1,608,182 common shares at $2.15 per share, totaling approximately $3.46 million. This purchase represents about 0.8% of the company’s outstanding shares. The company plans to resume its normal course issuer bid (NCIB) to continue purchasing shares, aiming to maximize its daily purchase limit. This strategic move is expected to enhance shareholder value and reflects Saturn’s ongoing commitment to efficient capital management.

The most recent analyst rating on (TSE:SOIL) stock is a Hold with a C$4.00 price target. To see the full list of analyst forecasts on Saturn Oil & Gas stock, see the TSE:SOIL Stock Forecast page.

Spark’s Take on TSE:SOIL Stock

According to Spark, TipRanks’ AI Analyst, TSE:SOIL is a Outperform.

Saturn Oil & Gas scores well due to strong financial performance, undervaluation, and positive corporate events. The stock benefits from robust growth and strategic initiatives despite challenges with high debt levels and oil price uncertainty.

To see Spark’s full report on TSE:SOIL stock, click here.

More about Saturn Oil & Gas

Saturn Oil & Gas Inc. is a Canadian energy company focused on the development of high-quality, light oil-weighted assets in Saskatchewan and Alberta. The company employs an acquisition strategy targeting accretive and complementary opportunities, and its portfolio includes free-cash flowing, low-decline operated assets. Saturn is committed to increasing per share reserves, production, and cash flow while maintaining an entrepreneurial and ESG-focused culture. The company’s shares are traded on the TSX under the ticker ‘SOIL’ and on the OTCQX under ‘OILSF’.

Average Trading Volume: 353,552

Technical Sentiment Signal: Buy

Current Market Cap: C$432.7M

For an in-depth examination of SOIL stock, go to TipRanks’ Overview page.