Triangle Petroleum (TPLM)

[dan_s]

Triangle Petroleum Corp. (TPLM): Fiscal 2nd quarter results have been released. An updated Net Income & Cash Flow Forecast has been posted under the Watch List Tab.

TPLM crushed my forecast for the 2nd quarter. Better yet, the company has raised their full year production guidance.

I will need to do more work on the forecast model after I see their actual SEC filing for the quarter. Based on my preliminary forecast, the Fair Value Estimate is now $11.80/share. This compares to First Call's Price Forecast of $9.45.

TPLM is now on-track to exit this year near 8,000 boepd, compared to just 2,400 boepd at the beginning of the year. They are now completing high rate Bakken wells in bunches. With higher production and much higher oil prices, 3rd quarter earnings per share should crush the current First Call EPS estimate. I expect this puppy to get a lot of good press on Tuesday.

[wilmawatts]

Wow. Option market for this one also.

[setliff]

damn, i decided this am to wait for some consolidation before buying more--never dreamed it would go up >17%.

[setliff]

Triangle Petroleum soars, now up 24% since SA Pro recommendation • 2:57 PM

Triangle Petroleum (TPLM +15.4%) posts double-digit gains after reporting a 391% Y/Y increase in revenue and beating on both lines with Q2 results. (PR)

Last Thursday, SA Pro contributor Steve Zachritz said he "didn't mind" the dilution that came with the company's McKenzie County, ND acreage acquisition, as the deal was for "good real estate" that "brings with it current production of 1,150 BOEpd."

Zachritz called the shares cheap compared to peers: "You almost get the acreage, its in-house frac spreads and its midstream segment for free at this point just based on production value."

The shares are now up 24% since Zachritz's call.

[dan_s]

From their CC: "As we announced in our press release, current production is around 6,500 barrels a day, and we're on track to meet our production guidance for the year, and frankly, we're ahead of it. So oil volumes were up significantly year-over-year."

[setliff]

COVERAGE REITERATED: Triangle Petroleum (TPLM) reiterated by Wunderlich. Reiterated rating Buy. 09/11 04:43 AM
PT raised $10>12

[dan_s]

Triangle Petroleum Corporation (TPLM) was a big mover last session, as the company saw its shares surge more than 17% on the day. The move came on the back of solid volume too, as far more shares changed hands than in a normal session. The uptrend is continuing for the company, as the stock is now up nearly 32% in the past one-month time period.

The company has seen 3 positive estimate revisions in the past few weeks and its earnings consensus has moved higher over the past 30 days, suggesting that more solid trading could be in store for Triangle Petroleum. So make sure to keep an eye on this stock going forward to see if this recent surge can turn into more strength down the road.

Triangle Petroleum currently has a Zacks Rank #2 (Buy) while its Earnings ESP is positive.

Some other oil & gas stocks worth considering include Carrizo Oil & Gas Inc. (CRZO), Range Resources Corporation (RRC) and Whiting Petroleum Corp. (WLL). All these carry a Zacks Rank #1 (Strong Buy).