TORC Oil and Gas (TSE:TOG) had its price objective cut by Canaccord Genuity from C$8.00 to C$7.50 in a research note issued to investors on Tuesday, BayStreet.CA reports.
Other equities analysts also recently issued research reports about the stock. Raymond James set a $31.00 price objective on shares of Mylan and gave the company a buy rating in a report on Wednesday, May 8th. TD Securities upped their price objective on shares of WestJet Airlines from C$19.00 to C$20.00 and gave the company a hold rating in a report on Wednesday, May 8th. National Bank Financial cut their price objective on shares of Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating on the stock in a report on Tuesday, June 25th. GMP Securities restated a buy rating and set a $22.25 price objective on shares of SPDR Wells Fargo Preferred Stock ETF in a report on Friday, June 28th. Finally, AltaCorp Capital downgraded shares of TORC Oil and Gas from an outperform rating to a sector perform rating in a report on Tuesday, April 9th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. TORC Oil and Gas has a consensus rating of Buy and an average target price of C$7.92.
TOG opened at C$4.13 on Tuesday. TORC Oil and Gas has a 52-week low of C$3.81 and a 52-week high of C$8.12. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 24.18. The firm has a market capitalization of $938.18 million and a P/E ratio of 50.99. The firm’s 50-day moving average is C$4.14.
TORC Oil and Gas (TSE:TOG) last posted its quarterly earnings data on Tuesday, May 7th. The company reported C$0.03 earnings per share (EPS) for the quarter. The company had revenue of C$144.66 million for the quarter. On average, research analysts expect that TORC Oil and Gas will post 0.15 EPS for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 15th will be issued a $0.025 dividend. This represents a $0.30 annualized dividend and a yield of 7.26%. The ex-dividend date is Tuesday, July 30th. This is an increase from TORC Oil and Gas’s previous monthly dividend of $0.02. TORC Oil and Gas’s dividend payout ratio is 323.46%.
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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