NEW YORK (TheStreet) -- Activist investor Carl Icahn, and his apparent affection for Twitter, was pushing Talisman Energy (TLM) higher for a second day on Tuesday. The Canadian oil and gas company was gaining 1.5% to $12.94 at 10:21am New York time. Trading volume had already exceeded its three-month average daily volume of 5.47 million, with 8.03 million shares having changed hands so far.
Talisman jumped 4.6% on Monday after Icahn said in a tweet that he would speak with Talisman's management about considering strategic initiatives and gaining seats on the driller's board of directors.
"Disclosed approx. 61 million share position in Talisman Energy," wrote Icahn on Monday evening. "May have conversations with mgmt [sic] re: strategic alternatives, board seats, etc." Icahn's purchase is equal to a 5.97% ownership in the company.
Icahn has previously discussed his meetings with Apple (AAPL) CEO Tim Cook on Twitter. The investor encouraged Cook to increase the company's share buyback activity, voicing his support for a "$150 billion buyback".
TheStreet Ratings team rates Talisman Energy Inc as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate Talisman Energy Inc (TLM) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."