TORC Oil and Gas Ltd (OTCMKTS:VREYF)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.13 and traded as high as $1.20. TORC Oil and Gas shares last traded at $1.20, with a volume of 600 shares traded.
Several analysts recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of TORC Oil and Gas from $2.00 to $2.25 and gave the company an “outperform” rating in a report on Thursday, July 30th. Scotiabank raised their price objective on shares of TORC Oil and Gas from $1.50 to $1.75 and gave the company a “sector perform” rating in a report on Monday, June 15th. CIBC lifted their price objective on shares of TORC Oil and Gas from $1.50 to $2.00 and gave the stock an “outperform” rating in a research report on Thursday, May 21st. Finally, Stifel Nicolaus increased their target price on TORC Oil and Gas from $2.00 to $2.50 and gave the company a “buy” rating in a report on Thursday, July 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $2.08.
The business’s fifty day simple moving average is $1.35 and its two-hundred day simple moving average is $1.13.
About TORC Oil and Gas (OTCMKTS:VREYF)
TORC Oil & Gas Ltd. engages in the exploration and production of petroleum and natural gas in the Western Canadian Sedimentary Basin. The company's principal properties are located in the southeast Saskatchewan area. TORC Oil & Gas Ltd. was founded in 2010 and is headquartered in Calgary, Canada.
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