Price Target Update on Triangle Petroleum Corporation (NYSEMKT:TPLM)

Triangle Petroleum Corporation (NYSEMKT:TPLM) has been rated by 2 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $1 and the lowest price target forecast is $1. The average forecast of all the analysts is $0.75 and the expected standard deviation is $0.35.

Other Equity analysts have also commented on the company shares. In the latest statement by the brokerage house, Johnson Rice downgrades its outlook on Triangle Petroleum Corporation (NYSEMKT:TPLM). The current rating of the shares is Hold, according to the research report released by the firm. Previously, the company had a rating of Accumulate. The rating by the firm was issued on April 18, 2016.

Triangle Petroleum Corporation (NYSEMKT:TPLM): stock turned positive on Thursday. Though the stock opened at $0.34, the bulls momentum made the stock top out at $0.4275 level for the day. The stock recorded a low of $0.34 and closed the trading day at $0.4, in the green by 10.74%. The total traded volume for the day was 6,297,119. The stock had closed at $0.3612 in the previous days trading.

The company shares have dropped -93.16% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $5.32 and the one year low was seen on Jun 1, 2016. The 50-Day Moving Average price is $0.32 and the 200 Day Moving Average price is recorded at $0.51. On the companys insider trading activities, The director officer (President and CEO), of Triangle Petroleum Corp, Samuels Jonathan Ryan had unloaded 34,455 shares at $0.44 per share in a transaction on February 4, 2016. The total value of transaction was $15,160. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

Triangle Petroleum Corporation is an energy holding company. The Company has three principal lines of business: oil and natural gas exploration, development, and production; oilfield services, and midstream services. It conducts these activities in the Williston Basin of North Dakota and Montana through the Companys two principal wholly owned subsidiaries and its equity joint venture. Triangle USA Petroleum Corporation (TUSA) conducts its exploration and production operations by acquiring and developing unconventional shale oil and natural gas resources. RockPile Energy Services, LLC (RockPile) is a provider of hydraulic pressure pumping and complementary services. Caliber Midstream Partners, L.P. (Caliber) is its 28.3%-owned joint venture with First Reserve Energy Infrastructure Fund (FREIF). Caliber provides crude oil, natural gas and fresh and produced water gathering, processing, and transportation services.

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