Royal Bank of Canada Cuts TORC Oil and Gas (TSE:TOG) Price Target to C$5.50

TORC Oil and Gas (TSE:TOG) had its price target decreased by research analysts at Royal Bank of Canada from C$6.75 to C$5.50 in a note issued to investors on Friday, BayStreet.CA reports. Royal Bank of Canada’s price objective points to a potential upside of 58.50% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. GMP Securities dropped their target price on TORC Oil and Gas from C$7.75 to C$6.75 in a report on Friday, June 28th. Raymond James restated a “strong-buy” rating and set a C$6.50 target price on shares of TORC Oil and Gas in a report on Thursday, August 1st. Canaccord Genuity dropped their target price on TORC Oil and Gas from C$8.00 to C$7.50 in a report on Tuesday, July 9th. CIBC dropped their target price on TORC Oil and Gas from C$7.00 to C$5.50 in a report on Thursday, July 18th. Finally, Laurentian dropped their target price on TORC Oil and Gas from C$7.50 to C$7.00 in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of C$7.28.

TOG stock traded down C$0.04 during trading on Friday, hitting C$3.47. 373,883 shares of the company traded hands, compared to its average volume of 811,029. The firm has a market capitalization of $768.38 million and a PE ratio of 46.13. TORC Oil and Gas has a 1 year low of C$3.03 and a 1 year high of C$6.09. The company has a 50-day moving average of C$3.68 and a 200-day moving average of C$4.10. The company has a debt-to-equity ratio of 20.47, a quick ratio of 0.41 and a current ratio of 0.41.

TORC Oil and Gas (TSE:TOG) last issued its earnings results on Wednesday, July 31st. The company reported C$0.05 earnings per share for the quarter. The company had revenue of C$152.91 million for the quarter. Sell-side analysts expect that TORC Oil and Gas will post 0.09 EPS for the current year.

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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Analyst Recommendations for TORC Oil and Gas (TSE:TOG)

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