Triangle Petroleum (TPLM) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Triangle Petroleum (NASDAQ:TPLM) announced its earnings results on Monday. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.12 by $0.03, AnalystRatingsNetwork.com reports. The company had revenue of $99.80 million for the quarter, compared to the consensus estimate of $95.86 million.
Triangle Petroleum (NASDAQ:TPLM) traded up 0.89% on Monday, hitting $10.22. The stock had a trading volume of 1,389,375 shares. Triangle Petroleum has a one year low of $6.16 and a one year high of $11.66. The stock’s 50-day moving average is $9.7 and its 200-day moving average is $8.94. The company has a market cap of $878.3 million and a price-to-earnings ratio of 11.14.
TPLM has been the subject of a number of recent research reports. Analysts at Global Hunter Securities downgraded shares of Triangle Petroleum from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 3rd. They now have a $10.00 price target on the stock. On a related note, analysts at TheStreet upgraded shares of Triangle Petroleum from a “hold” rating to a “buy” rating in a research note on Monday, April 21st. Finally, analysts at KLR Group downgraded shares of Triangle Petroleum from a “buy” rating to an “accumulate” rating in a research note on Monday, April 21st. They now have a $12.00 price target on the stock, down previously from $13.00. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $12.08.
In other Triangle Petroleum news, Director Peter J. Hill unloaded 10,000 shares of the company’s stock on the open market in a transaction dated Monday, June 2nd. The stock was sold at an average price of $10.04, for a total value of $100,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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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