TORC Oil & Gas Received its Third Buy in a Row

By Ryan Adsit

Analysts have been quite happy with TORC Oil & Gas (TSX: TOG) stock lately with several positive ratings in a row that it received in the past month alone. BMO Capital’s analyst Randy Ollenberger reiterates their Buy rating on the shares, with a C$8 price target.

According to TipRanks.com, Ollenberger is ranked 0 out of 5 stars with an average return of -11.2% and a 25.6% success rate. Ollenberger covers the Basic Materials sector, focusing on stocks such as Wildhorse Resource Development Corp, Sanchez Energy Corporation, and Spectra Energy Partners.

Currently, the analyst consensus on TORC Oil & Gas is Strong Buy and the average price target is C$9.75, representing a 103.1% upside.

In a report issued on June 19, RBC Capital also reiterated a Buy rating on the stock with a C$10 price target.

TORC Oil & Gas’ market cap is currently C$882.5M and has a P/E ratio of 0.

TORC Oil & Gas Ltd. is an exploration company. It engages in the acquisition, exploration, development and production of crude oil and natural gas in Western Canada. The company was founded on March 23, 2010 and is headquartered in Calgary, Canada.

The company’s shares closed on Monday at $4.80, close to its 52-week high of $8.91.