Triangle Petroleum Receives a Buy from Canaccord Genuity

By George MacDonald

Canaccord Genuity analyst Stephen Berman maintained a Buy rating on Triangle Petroleum (NYSE MKT: TPLM) today and set a price target of $7. The company’s shares opened today at $4.97.

Triangle Petroleum has an analyst consensus of Hold, with a price target consensus of $5.

The company has a one year high of $12.48 and a one year low of $3.10. Currently, Triangle Petroleum has an average volume of 1.32M.

Unlike Canaccord Genuity`s latest rating, based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. Most recently, in December 2014, Jonathan Ryan Samuels, a President and CEO at TPLM bought 63,333 shares for a total of $79,166.

According to TipRanks.com, Berman is ranked 0 out of 5 stars with an average return of -19.7% and a 25.3% success rate. Berman covers the Basic Materials sector, focusing on stocks such as Sanchez Energy Corporation, Crimson Exploration Inc., and Abraxas Petroleum Corp.

Triangle Petroleum Corp is an independent energy holding company. It operates through three line of business oil and natural gas exploration, development and production; oilfield services; and midstream services.