FY’15 Capital Budget Of $510 M Provided By Triangle Petroleum Corporation (NYSEMKT:TPLM)


Dallas, Texas 02/13/2014 (FINANCIALSTRENDS) – In a recent development the Triangle Petroleum Corporation (NYSEMKT:TPLM) provided its capital budget outlook and guidance for its E&P segment, RockPile Energy services and Caliber Midstream. As per the company their 2015 fiscal capital expenditure budget is going to be around $510 million and out of this $510 million a major chunk that is $415 M will go towards E&P Drilling program, $50 M for E&P Land spend and $20 M for RockPile.

During the last trading session the share price of Triangle Petroleum closed at $8.00 and for the entire day it moved between $7.86 and $8.17. The 52 week high of TPLM is $11.66 and its 52 week low is $4.85. The current market capitalization of Triangle Petroleum is $684.98 Million and 1.37 Million shares were traded during the last trading session. On an average 1.59 million shares are traded for this stock.

An overview of the Company

Triangle Petroleum Corporation (NYSEMKT:TPLM) is basically a vertically integrated , growth oriented energy company that has got a strategic focus on the development of Bakken Shale and Three Forks formations in the Williston basin that lies in North Dakota and Montana.

The EPS that is earnings per share is 0.12 and this share has got a beta of 2.24. The P/E ratio for Triangle Petroleum is 69.46. Recently on 5th February 2014 the Triangle Petroleum director sold around 10,000 shares of the company in the open market. The average price at which the shares were sold was $7.39 and the total value stood around $73,900.00. There are many research analysts who have commented on this stock and some of them have cut their price target of this share from $9.50 to $9.00. There are few analysts who have given an in-line rating to this stock. On the other hand the Wells Fargo & Co. have raised their target for TPLM for $14.00.