TORC Oil and Gas (TSE:TOG) had its price target reduced by Raymond James from C$2.50 to C$1.00 in a note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. Raymond James’ target price points to a potential upside of 66.67% from the company’s current price.
A number of other analysts also recently issued reports on TOG. National Bank Financial lowered their price objective on shares of TORC Oil and Gas from C$6.00 to C$3.25 and set an “outperform” rating on the stock in a report on Tuesday, March 10th. Laurentian lowered their price objective on shares of TORC Oil and Gas from C$6.00 to C$5.75 in a report on Wednesday, February 12th. Tudor Pickering reiterated a “hold” rating and issued a C$2.50 price objective on shares of TORC Oil and Gas in a report on Tuesday, March 17th. Laurentian Bank of Canada lowered their price objective on shares of TORC Oil and Gas from C$6.00 to C$5.75 in a report on Wednesday, February 12th. Finally, Scotiabank lowered their price objective on shares of TORC Oil and Gas from C$7.00 to C$1.25 in a report on Wednesday, March 18th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of C$3.46.
TSE TOG opened at C$0.60 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 21.87. TORC Oil and Gas has a 12-month low of C$0.41 and a 12-month high of C$5.46. The company has a market capitalization of $130.87 million and a PE ratio of -3.53. The firm’s 50 day moving average is C$2.74 and its 200-day moving average is C$3.64.
About TORC Oil and Gas
TORC Oil & Gas Ltd. engages in the exploration and production of petroleum and natural gas in the Western Canadian Sedimentary Basin. The company's principal properties are located in the southeast Saskatchewan area. TORC Oil & Gas Ltd. was founded in 2010 and is headquartered in Calgary, Canada.
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