Analysts seem to be feeling optimistic about TORC Oil & Gas (TOG) lately, with another positive rating update this time from Canaccord Genuity. Canaccord Genuity’s analyst Anthony Petrucci reiterates their Buy rating on the shares, with a C$8 price target.
According to TipRanks.com, Petrucci has 0 stars on 0-5 star ranking scale with an average return of -20.0% and a 19.8% success rate. Petrucci covers the Basic Materials sector, focusing on stocks such as Essential Energy Services Ltd, Athabasca Oil Corporation, and Trican Well Service Ltd.
Currently, the analyst consensus on TORC Oil & Gas is a Strong Buy with an average price target of C$7.92, implying a 69.6% upside from current levels. In a report issued on January 7, BMO Capital also reiterated a Buy rating on the stock with a C$6 price target.
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TORC Oil & Gas’ market cap is currently C$1.02B and has a P/E ratio of 29.6. The company has a Price to Book ratio of 0.67.
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 Thursday at C$4.67.
