CIBC Thinks TORC Oil & Gas’ Stock is Going to Recover

By Ryan Adsit

In a new note to investors yesterday, an analyst has provided a rating update for TORC Oil & Gas (TOGResearch Report). Analyst Jamie Kubik from CIBC reiterated a Buy rating, with a C$8.50 price target.

According to TipRanks.com, Kubik has 0 stars on 0-5 star ranking scale with an average return of -15.7% and a 26.6% success rate. Kubik covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.

TORC Oil & Gas has an analyst consensus of Strong Buy, with a price target consensus of C$9.60, an 89.7% upside from current levels. In a report issued on November 6, TD Securities also maintained a Buy rating on the stock with a C$9.50 price target.

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The company has a one-year high of C$8.12 and a one-year low of C$4.66. Currently, TORC Oil & Gas has an average volume of 819.2K.

TORC Oil & Gas Ltd. operates as 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 Thursday at C$5.06, close to its 52-week low of C$4.66.