Investment analysts at Global Hunter Securities lifted their price target on shares of Triangle Petroleum Corp. (NASDAQ:TPLM) from $8.50 to $10.00 in a note issued to investors on Wednesday, American Banking News reports. The firm currently has a “buy” rating on the stock. Global Hunter Securities’ target price would indicate a potential upside of 12.49% from the company’s current price.
A number of other firms have also recently commented on TPLM. Analysts at Wunderlich raised their price target on shares of Triangle Petroleum Corp. (NASDAQ:TPLM) from $10.00 to $12.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Topeka Capital Markets raised their price target on shares of Triangle Petroleum Corp. (NASDAQ:TPLM) from $10.00 to $11.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Finally, analysts at Howard Weil raised their price target on shares of Triangle Petroleum Corp. (NASDAQ:TPLM) from $12.00 to $13.00 in a research note to investors on Wednesday, August 21st. They now have a “sector outperform” rating on the stock.
Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $9.36.
Shares of Triangle Petroleum Corp. (NASDAQ:TPLM) traded up 0.11% during mid-day trading on Wednesday, hitting $8.89. 2,973,803 shares of the company’s stock traded hands. Triangle Petroleum Corp. has a 52 week low of $4.85 and a 52 week high of $8.95. The stock’s 50-day moving average is $7.04 and its 200-day moving average is $6.50. The company’s market cap is $501.5 million.
Triangle Petroleum Corp. (NASDAQ:TPLM) last released its earnings data on Tuesday, September 10th. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.14 by $0.05. The company had revenue of $50.39 million for the quarter, compared to the consensus estimate of $47.01 million. Analysts expect that Triangle Petroleum Corp. will post $0.69 EPS for the current fiscal year.
In other Triangle Petroleum Corp. news, CEO Jonathan Ryan Samuels sold 12,000 shares of the stock on the open market in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $6.74, for a total transaction of $80,880.00. Following the completion of the transaction, the chief executive officer now directly owns 202,642 shares in the company. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Triangle Petroleum Corporation (NASDAQ:TPLM) is an exploration and production company ,which is focused on the development of unconventional shale oil and natural gas resources in the Bakken Shale and Three Forks formations in the Williston Basin of North Dakota and Montana.