Raymond James Thinks TORC Oil & Gas’ Stock is Going to Recover

By Austin Angelo

Shares of TORC Oil & Gas (TOGResearch Report) were revisited by a Wall Street analyst today. The company received a Buy rating from Raymond James’ analyst Jeremy Mccrea, with a C$6.50 price target.

According to TipRanks.com, Mccrea ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -9.7% and a 24.4% success rate. Mccrea covers the Basic Materials sector, focusing on stocks such as Painted Pony Petroleum Ltd, Tamarack Valley Energy Ltd, and Freehold Royalties Ltd.

TORC Oil & Gas has an analyst consensus of Strong Buy, with a price target consensus of C$6.81, representing a 63.5% upside. In a report issued on June 28, GMP FirstEnergy also reiterated a Buy rating on the stock with a C$6.75 price target.

.

The company has a one-year high of C$8.12 and a one-year low of C$3.81. Currently, TORC Oil & Gas has an average volume of 654.7K.

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 companys projects include cardium, southeast Saskatchewan Torquay & Three fork. TORC Oil & Gas was founded on March 23, 2010 and is headquartered in Calgary, Canada.

The company’s shares closed on Thursday at C$4.17, close to its 52-week low of C$3.81.