Triangle Petroleum Director Unloads $118,500 in Stock (TPLM)
Triangle Petroleum (NASDAQ:TPLM) Director Peter J. Hill sold 10,000 shares of the company’s stock on the open market in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $11.85, for a total transaction of $118,500.00. Following the sale, the director now directly owns 332,099 shares of the company’s stock, valued at approximately $3,935,373. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Triangle Petroleum (NASDAQ:TPLM) traded down 0.08% during mid-day trading on Wednesday, hitting $11.83. 707,832 shares of the company’s stock traded hands. Triangle Petroleum has a 1-year low of $6.96 and a 1-year high of $12.48. The stock has a 50-day moving average of $11.37 and a 200-day moving average of $10.05. The company has a market cap of $1.019 billion and a P/E ratio of 13.21.
Several analysts have recently commented on the stock. Analysts at Howard Weil raised their price target on shares of Triangle Petroleum from $11.00 to $15.00 in a research note on Thursday, June 19th. They now have a “sector outperform” rating on the stock. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Triangle Petroleum in a research note on Wednesday, June 11th. They now have a $13.00 price target on the stock, up previously from $12.00. Finally, analysts at Wunderlich raised their price target on shares of Triangle Petroleum from $12.00 to $14.00 in a research note on Wednesday, June 11th. They now have a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $12.63.
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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