Torc Oil And Gas Ltd (TSE:TOG)’s share price rose 0.8% during mid-day trading on Tuesday after National Bank Financial raised their price target on the stock from C$7.75 to C$9.45. National Bank Financial currently has an outperform rating on the stock. Torc Oil And Gas traded as high as C$7.61 and last traded at C$7.51. Approximately 877,554 shares were traded during mid-day trading, an increase of 42% from the average daily volume of 616,122 shares. The stock had previously closed at C$7.57.
Several other research firms also recently issued reports on TOG. TD Securities upped their target price on Torc Oil And Gas from C$8.00 to C$8.50 and gave the company a “buy” rating in a research report on Monday, November 6th. Royal Bank of Canada increased their price target on Torc Oil And Gas from C$7.00 to C$8.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th. Finally, Raymond James Financial increased their price target on Torc Oil And Gas from C$7.50 to C$8.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 12th. Six research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of C$8.87.
In other Torc Oil And Gas news, insider Michael Wihak sold 40,000 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of C$6.95, for a total transaction of C$278,000.00.
The company also recently announced a monthly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.02 per share. This represents a $0.24 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Thursday, December 28th. Torc Oil And Gas’s payout ratio is currently 2,400.00%.
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About Torc Oil And Gas
TORC Oil and Gas Ltd. (TORC), formerly Vero Energy Inc (Vero), is a Canada-based company. The Company is engaged in the acquisition, exploration, development and production of crude oil and natural gas assets.The Company is engaged in drilling activities. TORC uses its technical, technological and industry knowledge to evaluate potential hydrocarbon .
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