Trioil Resources Downgraded to Hold at Octagon Capital (TOL)
Trioil Resources (CVE:TOL) was downgraded by equities researchers at Octagon Capital from a “buy” rating to a “hold” rating in a research report issued on Tuesday, American Banking & Market News reports. They currently have a C$2.85 price objective on the stock, down from their previous price objective of C$4.00. Octagon Capital’s price objective points to a potential upside of 1.42% from the stock’s previous close.
A number of other firms have also recently commented on TOL. Analysts at Canaccord Genuity cut their price target on shares of Trioil Resources (CVE:TOL) from C$3.50 to C$2.85 in a research note to investors on Tuesday. They now have a “hold” rating on the stock. Separately, analysts at Raymond James downgraded shares of Trioil Resources (CVE:TOL) from an “outperform” rating to a “market perform” rating in a research note to investors on Tuesday. They now have a C$2.85 price target on the stock, down previously from C$3.75.
Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of C$3.38.
TriOil Resources Ltd. (CVE:TOL), formerly One Exploration Inc, is engaged in the acquisition of, exploration for and development of petroleum and natural gas in Western Canada.
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