Triangle Petroleum Corporation (TPLM) is Downgraded by Johnson Rice to Hold

Triangle Petroleum Corporation (TPLM) was Downgraded by Johnson Rice to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Johnson Rice advised their investors in a research report released on Apr 18, 2016.

On the company’s financial health, Triangle Petroleum Corporation reported $-0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Dec 8, 2015. Analyst had a consensus of $-0.12. The company had revenue of $65.31 million for the quarter, compared to analysts expectations of $108.54 million. The company’s revenue was down -62.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.15 EPS.

Triangle Petroleum Corporation closed down -0.0499 points or -9.60% at $0.4701 with 24,71,460 shares getting traded on Friday. Post opening the session at $0.49, the shares hit an intraday low of $0.42 and an intraday high of $0.4908 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Feb 8, 2016, Jonathan Ryan Samuels (President and CEO) sold 34,455 shares at $0.44 per share price. According to the SEC, on Dec 14, 2015, Douglas J Griggs (Chief Accounting Officer) purchased 20,000 shares at $0.60 per share price. On Dec 14, 2015, Randal J. Matkaluk (director) purchased 100,000 shares at $0.60 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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.

Triangle Petroleum Corporation

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