TORC Oil and Gas (TSE:TOG) had its target price cut by CIBC from C$7.00 to C$5.50 in a research report released on Thursday, BayStreet.CA reports.

Several other brokerages have also issued reports on TOG. Raymond James restated a hold rating on shares of PrairieSky Royalty in a report on Thursday, July 11th. TD Securities boosted their price objective on shares of WestJet Airlines from C$19.00 to C$20.00 and gave the company a hold rating in a report on Wednesday, May 8th. National Bank Financial reduced their price objective on shares of Yangarra Resources from C$5.50 to C$5.00 and set an outperform rating on the stock in a report on Tuesday, June 25th. Canaccord Genuity reiterated a buy rating and set a $7.50 price target on shares of in a research note on Tuesday, July 9th. Finally, GMP Securities reiterated a buy rating and set a $22.25 price target on shares of SPDR Wells Fargo Preferred Stock ETF in a research note on Friday, June 28th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of C$7.44.

Shares of TOG opened at C$4.07 on Thursday. The stock has a market cap of $885.94 million and a price-to-earnings ratio of 50.25. TORC Oil and Gas has a 12-month low of C$3.81 and a 12-month high of C$7.90. The firm has a 50-day moving average of C$4.10. The company has a debt-to-equity ratio of 24.18, a quick ratio of 0.60 and a current ratio of 0.60.

TORC Oil and Gas (TSE:TOG) last issued its quarterly earnings data 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. As a group, research analysts anticipate 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. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend 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 dividend payout ratio is 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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