Royal Bank of Canada Cuts TORC Oil and Gas (TSE:TOG) Price Target to C$6.75

TORC Oil and Gas (TSE:TOG) had its price target reduced by Royal Bank of Canada from C$8.00 to C$6.75 in a research note published on Thursday, BayStreet.CA reports.

Several other analysts have also issued reports on the stock. TD Securities lifted their target price on shares of WestJet Airlines from C$19.00 to C$20.00 and gave the company a hold rating in a research report on Wednesday, May 8th. Canaccord Genuity reiterated a buy rating and issued a $7.50 target price on shares of in a research report on Tuesday, July 9th. AltaCorp Capital lowered shares of TORC Oil and Gas from an outperform rating to a sector perform rating in a research report on Tuesday, April 9th. GMP Securities reiterated a buy rating and issued a $22.25 target price on shares of SPDR Wells Fargo Preferred Stock ETF in a research report on Friday, June 28th. Finally, CIBC restated a hold rating and set a $2.50 price target on shares of Advantage Oil & Gas in a research report on Thursday. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of C$7.44.

TOG opened at C$4.07 on Thursday. TORC Oil and Gas has a fifty-two week low of C$3.81 and a fifty-two week high of C$7.90. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 24.18. The firm has a fifty day moving average price of C$4.10. The stock has a market capitalization of $885.94 million and a PE ratio of 50.25.

TORC Oil and Gas (TSE:TOG) last announced its earnings results 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 during the quarter. On average, analysts predict that TORC Oil and Gas will post 0.17 earnings per share for the current 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 given a dividend of $0.025 per share. The ex-dividend date is Tuesday, July 30th. This is a positive change from TORC Oil and Gas’s previous monthly dividend of $0.02. This represents a $0.30 dividend on an annualized basis and a yield of 7.37%. TORC Oil and Gas’s payout ratio is presently 323.46%.

TORC Oil and Gas Company Profile

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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