Renegade Petroleum Downgraded to Hold at Paradigm Capital (RPL)
Renegade Petroleum (CVE:RPL) was downgraded by equities research analysts at Paradigm Capital from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, American Banking News reports. They currently have a C$1.00 price objective on the stock, down from their previous price objective of C$1.25. Paradigm Capital’s price target indicates a potential upside of 8.70% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James cut their price target on shares of Renegade Petroleum from C$1.40 to C$1.20 in a research note to investors on Tuesday. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of C$1.96.
The company also recently declared a jan 14 dividend, which is scheduled for Monday, February 17th. Shareholders of record on Friday, January 31st will be given a dividend of 0.0083 per share. The ex-dividend date of this dividend is Wednesday, January 29th.
Renegade Petroleum Ltd. (CVE:RPL) is an exploitation and exploration focused light oil producer.
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