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Warren Resources (NASDAQ:WRES) was upgraded by equities researchers at TheStreet from a “hold” rating to a “buy” rating in a research report issued on Thursday, American Banking & Market News reports.

The analysts wrote, “Warren Resources (WRES) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, expanding profit margins, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.”

WRES has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Warren Resources from an “outperform” rating to a “neutral” rating in a research note on Tuesday, March 25th. They now have a $5.20 price target on the stock. Analysts at Brean Capital raised their price target on shares of Warren Resources from $5.25 to $7.00 in a research note on Monday, March 10th.

Warren Resources (NASDAQ:WRES) traded up 3.75% on Thursday, hitting $5.53. The stock had a trading volume of 1,090,765 shares. Warren Resources has a 1-year low of $2.46 and a 1-year high of $5.63. The stock’s 50-day moving average is $4.76 and its 200-day moving average is $3.67. The company has a market cap of $404.1 million and a price-to-earnings ratio of 12.69.

Warren Resources (NASDAQ:WRES) last released its earnings data on Thursday, March 6th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.10 by $0.01. The company had revenue of $32.61 million for the quarter, compared to the consensus estimate of $33.69 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. Analysts expect that Warren Resources will post $0.37 EPS for the current fiscal year.

Warren Resources, Inc (NASDAQ:WRES) is an independent energy company engaged in the exploration, development and production of domestic onshore crude oil and gas reserves.

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