Wunderlich Increases Triangle Petroleum Corp. Price Target to $15.00 (TPLM)
Research analysts at Wunderlich hoisted their target price on shares of Triangle Petroleum Corp. (NASDAQ:TPLM) from $12.00 to $15.00 in a report released on Thursday, StockRatingsNetwork reports. Wunderlich’s price objective would indicate a potential upside of 37.99% from the stock’s previous close.
A number of other analysts have also recently weighed in on TPLM. Analysts at Topeka Capital Markets downgraded shares of Triangle Petroleum Corp. from a “buy” rating to a “hold” rating in a research note to investors on Thursday, October 17th. Separately, analysts at Robert W. Baird initiated coverage on shares of Triangle Petroleum Corp. in a research note to investors on Wednesday, October 16th. They set an “outperform” rating on the stock. Finally, 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, October 15th. They now have a $11.70 price target on the stock. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Triangle Petroleum Corp. presently has an average rating of “Buy” and an average price target of $11.53.
Triangle Petroleum Corp. (NASDAQ:TPLM) traded up 6.78% during mid-day trading on Thursday, hitting $10.87. 1,942,449 shares of the company’s stock traded hands. Triangle Petroleum Corp. has a 52-week low of $4.85 and a 52-week high of $9.10. The stock’s 50-day moving average is $7.17 and its 200-day moving average is $6.55. The company has a market cap of $904.4 million and a P/E ratio of 226.22.
Triangle Petroleum Corp. (NASDAQ:TPLM) last posted its quarterly 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.
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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