TORC Oil & Gas (TOG) Gets a Buy Rating from Raymond James


In a new note to investors today, an analyst has provided a rating update for the Materials sector company, TORC Oil & Gas (TOG). Analyst Jeremy Mccrea from Raymond James reiterated a Buy rating, with a C$7.75 price target.

According to TipRanks.com, Mccrea is ranked 0 out of 5 stars with an average return of -13.2% and a 33.1% success rate. Mccrea covers the Basic Materials sector, focusing on stocks such as Tamarack Valley Energy Ltd, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for TORC Oil & Gas with a C$7.41 average price target, which is a 54.5% upside from current levels. In a report released yesterday, AltaCorp Captial also reiterated a Buy rating on the stock with a C$6.25 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 Tuesday at C$4.80.

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