In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, TORC Oil & Gas (TOG). The company received a Buy yesterday from TD Securities’ analyst Juan Jarrah, with a C$6.50 price target.
According to TipRanks.com, Jarrah has currently no stars on a ranking scale of 0-5 stars, with an average return of -26.4% and a 12.3% success rate. Jarrah covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, Crescent Point Energy, and Bellatrix Exploration.
Currently, the analyst consensus on TORC Oil & Gas is a Strong Buy with an average price target of C$8.53, a 79.2% upside from current levels. In a report released yesterday, BMO Capital also reiterated a Buy rating on the stock with a C$6 price target.
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Based on TORC Oil & Gas’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$22.75 million. In comparison, last year the company had a GAAP net loss of C$9.43 million.
TORC Oil & Gas Ltd. operates as an exploration company. It engages in the acquisition, exploration, development and production of crude oil and natural gas in Western Canada. The company was founded on March 23, 2010 and is headquartered in Calgary, Canada.
The company’s shares closed on Monday at C$4.76.
