Global Hunter Securities Starts Toreador Resources Corp. (TRGL) at Buy; Conventional growth: C’est Magnifique!
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Price: $5.18 --0%
Rating Summary:
2 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 9
Rating Summary:
2 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 17 | Down: 14 | New: 9
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Global Hunter Securities initiates coverage on Toreador Resources Corp. (NASDAQ: TRGL) with a Buy. PT $7.
Global analyst says, "Macondo was the Black Swan event that negatively impacted Gulf of Mexico energy company valuations creating an opportunistic and rewarding entry point when most investors felt offshore companies were “uninvestable." We believe investors are witnessing a potentially similar opportunity in Toreador Resources. Although no oil was leaked, the French government has proposed a ban on fracking, causing TRGL to tumble more than 80% over the last six months with the mass exodus causing the stock to trade below its conventional net asset value. We believe significant upside exists in TRGL without assigning any value to the company’s shale-oil potential. Toreador has numerous development, high-graded and expanded conventional exploration opportunities as well as significant upside potential with its lottery ticket unconventional Paris Basin oil shale potential. Despite the ultimate outcome on the frac legislation, TRGL inked a joint venture with Hess (NYSE: HES) that covers both conventional and unconventional opportunities and potentially supports TRGL’s organic growth."
For more ratings news on Toreador Resources Corp. click here and for the rating history of Toreador Resources Corp. click here.
Shares of Toreador Resources Corp. closed at $3.41 yesterday.
Global analyst says, "Macondo was the Black Swan event that negatively impacted Gulf of Mexico energy company valuations creating an opportunistic and rewarding entry point when most investors felt offshore companies were “uninvestable." We believe investors are witnessing a potentially similar opportunity in Toreador Resources. Although no oil was leaked, the French government has proposed a ban on fracking, causing TRGL to tumble more than 80% over the last six months with the mass exodus causing the stock to trade below its conventional net asset value. We believe significant upside exists in TRGL without assigning any value to the company’s shale-oil potential. Toreador has numerous development, high-graded and expanded conventional exploration opportunities as well as significant upside potential with its lottery ticket unconventional Paris Basin oil shale potential. Despite the ultimate outcome on the frac legislation, TRGL inked a joint venture with Hess (NYSE: HES) that covers both conventional and unconventional opportunities and potentially supports TRGL’s organic growth."
For more ratings news on Toreador Resources Corp. click here and for the rating history of Toreador Resources Corp. click here.
Shares of Toreador Resources Corp. closed at $3.41 yesterday.
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