Triangle Petroleum Corporation (NYSEMKT:TPLM) gets “overweight” rating


Dallas, Texas 09/20/2013 (Financialstrend) – On Thursday, Simmons weighed on Triangle Petroleum Corporation (NYSEMKT:TPLM) and assigned an “overweight” rating on the company stock. Numerous other analysts have also weighed on the stock lately. Imperial Capital analysts upped their PT on the shares from $7.00 to $9.50 on Monday and have assigned an “in-rating” on the shares.

Canaccord Genuity analysts also raised their PT on from $8.50 to $10.00 on 13 September and have assigned a “buy” rating on the stock. Global Hunter Securities analysts also hiked their PT from $8.50 to $10.00 on 11 September and have assigned “buy” rating on Triangle Petroleum Corporation (NYSEMKT:TPLM) stock.

Two research analysts have assigned a “hold” rating on the company stock, and 10 have assigned a “buy” rating. The average rating in the company stock is currently a “buy” and the average PT is $10.05.

Thursday’s trading

In Thursday’s trading session, Triangle Petroleum Corporation (NYSEMKT:TPLM) stock rose by 3.26%. The opening price of the shares was $9.62 which climbed to an intraday high of $10.01 and closed at $9.82. Approximately 2.21 million shares exchanged hands in Thursday’s trading. The average volume of shares traded over a period of 30 days was 1.62 million. The 52-week low of the shares is $4.85 while the 52-week high is $10.01. The company has a market cap of $816.95 million.

About the company

Triangle Petroleum Corporation (NYSEMKT:TPLM) is an exploration and a production company. It focuses on developing unconventional shale O&G resources in areas of the Bakken Shale and Williston Basin’ Three Forks formations in Montana and North Dakota.  As of 31 January 2012, it owned around 83,000 net-acres in the Williams and McKenzie Counties of North Dakota and the Sheridan and Roosevelt Counties of Montana. Triangle Petroleum Corporation (NYSEMKT:TPLM)’s petroleum-development operations focus on Bakken oil. Its projects include Montana and Williston Basin of North Dakota.

About Author

We have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. No compensation.