Topeka Capital Markets Downgrades Triangle Petroleum Corp. to Hold (TPLM)
Triangle Petroleum Corp. (NASDAQ:TPLM) was downgraded by Topeka Capital Markets from a “buy” rating to a “hold” rating in a research note issued on Thursday, TheFlyOnTheWall.com reports.
TPLM has been the subject of a number of other recent research reports. Analysts at Robert W. Baird initiated coverage on shares of Triangle Petroleum Corp. in a research note to investors on Wednesday. They set an “outperform” rating on the stock. Separately, analysts at Zacks downgraded shares of Triangle Petroleum Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday. They now have a $11.70 price target on the stock. Finally, 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. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $11.03.
Shares of Triangle Petroleum Corp. (NASDAQ:TPLM) traded down 1.44% on Thursday, hitting $10.93. The stock had a trading volume of 1,420,263 shares. Triangle Petroleum Corp. has a 52-week low of $4.85 and a 52-week high of $11.17. The stock’s 50-day moving average is $9.22 and its 200-day moving average is $7.10. The company has a market cap of $909.4 million and a P/E ratio of 246.44.
Triangle Petroleum Corp. (NASDAQ:TPLM) last released its earnings data 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.
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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