Triangle Petroleum Corp. Lowered to “Neutral” at Zacks (TPLM)
Triangle Petroleum Corp. (NASDAQ:TPLM) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday, AnalystRatings.NET reports. They currently have a $11.70 price target on the stock. Zacks‘ price objective indicates a potential upside of 8.84% from the stock’s previous close.
Triangle Petroleum Corp. (NASDAQ:TPLM) traded down 0.37% during mid-day trading on Tuesday, hitting $10.71. The stock had a trading volume of 673,205 shares. Triangle Petroleum Corp. has a 1-year low of $4.85 and a 1-year high of $10.96. The stock’s 50-day moving average is $8.97 and its 200-day moving average is $7.04. The company has a market cap of $891.1 million and a price-to-earnings ratio of 238.89.
Triangle Petroleum Corp. (NASDAQ:TPLM) last announced its earnings results on Tuesday, September 10th. The company reported $0.19 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.05. The company had revenue of $50.39 million for the quarter, compared to the consensus estimate of $47.01 million. On average, analysts predict that Triangle Petroleum Corp. will post $0.86 earnings per share for the current fiscal year.
In other Triangle Petroleum Corp. news, Director Peter J. Hill sold 9,333 shares of the stock on the open market in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $9.76, for a total value of $91,090.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
TPLM has been the subject of a number of other recent research reports. Analysts at Simmons initiated coverage on shares of Triangle Petroleum Corp. in a research note to investors on Thursday, September 19th. They set an “overweight” rating on the stock. Separately, analysts at Imperial Capital raised their price target on shares of Triangle Petroleum Corp. from $7.00 to $9.50 in a research note to investors on Monday, September 16th. They now have an “in-line” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Triangle Petroleum Corp. from $8.50 to $10.00 in a research note to investors on Friday, September 13th. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Triangle Petroleum Corp. has a consensus rating of “Buy” and a consensus target price of $10.65.
Triangle Petroleum Corporation (NASDAQ:TPLM) is an exploration and production company ,which is focused on the development of unconventional shale oil and natural gas resources in the Bakken Shale and Three Forks formations in the Williston Basin of North Dakota and Montana.
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