Target for TransAtlantic Petroleum Ltd (NYSEMKT:TAT) Upgraded To Neutral Rating


Dallas, Texas 02/06/2014 (FINANCIALSTRENDS) – In a recent development the share price target for TransAtlantic Petroleum Ltd (NYSEMKT:TAT) has been upgraded to neutral from an earlier underperform rating. The price target that has been set is $0.70. During the opening bell on Tuesday the shares of Transatlantic Petroleum opened at around $0.7026. If we talk about the 52 week low of this stock, it has touched $0.66 and the 52 week high of this stock is $1.10. The 50 day moving average of Transatlantic Petroleum is $0.78 and if we talk about its 200 day moving average then it comes out to be $0.82.

The current market capitalization of Transatlantic Petroleum stands at around $262.3 million. Company also updated its financial results for the fourth quarter of 2013 and said that its fourth quarter has ended with a net production of 5,198 BOEPD. With its ambitious plans to grow more many industry analysts are still adapting to a wait and watch theory and believe it to be another dark horse in the race.

Something about TransAtlantic Petroleum Ltd (NYSEMKT:TAT)

Transatlantic Petroleum Ltd is oil and natural gas exploration and Production Company that has got its operation in Turkey and Bulgaria. As per the company Bulgaria offers an immense potential in terms of overall growth and this is the reason the company is quite keen on developing all the projects in Bulgaria and Turkey with special focus.

TransAtlantic Petroleum Ltd (NYSEMKT:TAT)  also acquires many oil and natural gas assets and is a firm believer in the long term and inclusive growth. Currently Transatlantic Petroleum Ltd has got three active rigs in southeastern Turkey, Thrace Basin which is situated in North Western Turkey and in Bulgaria. Company is planning to drill an estimated 33 to 49 wells in the current year 2014. Company is also getting into joint venture partnership in Bulgaria and has dedicated a sum of $40 million for this work.