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Emerald Oil (NYSE:EOX)‘s stock had its “buy” rating reaffirmed by investment analysts at Canaccord Genuity in a note issued to investors on Wednesday, Analyst Ratings Network reports. They currently have a $12.00 target price on the stock, up from their previous target price of $11.00. Canaccord Genuity’s price objective points to a potential upside of 65.75% from the company’s current price.

Shares of Emerald Oil (NYSE:EOX) traded up 3.72% on Wednesday, hitting $7.24. 2,175,647 shares of the company’s stock traded hands. Emerald Oil has a 52-week low of $5.89 and a 52-week high of $9.20. The stock’s 50-day moving average is $6.82 and its 200-day moving average is $7.42. The company’s market cap is $479.9 million.

Emerald Oil (NYSE:EOX) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.03. The company had revenue of $18.27 million for the quarter, compared to the consensus estimate of $19.34 million. Analysts expect that Emerald Oil will post $0.20 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Emerald Oil from an “underperform” rating to a “neutral” rating in a research note on Wednesday, April 16th. They now have a $6.90 price target on the stock. Separately, analysts at TheStreet upgraded shares of Emerald Oil from a “sell” rating to a “hold” rating in a research note on Wednesday, March 19th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $10.36.

Emerald Oil, Inc (NYSE:EOX) is an independent oil and natural gas exploration and production company.

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