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Analysts at Brean Capital assumed coverage on shares of Warren Resources (NASDAQ:WRES) in a research report issued to clients and investors on Thursday, American Banking News.com reports. The firm set a “buy” rating and a $6.00 price target on the stock. Brean Capital’s price target would suggest a potential upside of 32.45% from the stock’s previous close.

WRES has been the subject of a number of other recent research reports. Analysts at TheStreet upgraded shares of Warren Resources from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. 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.

Warren Resources (NASDAQ:WRES) traded down 8.11% during mid-day trading on Thursday, hitting $4.53. 1,242,887 shares of the company’s stock traded hands. Warren Resources has a 1-year low of $2.46 and a 1-year high of $5.63. The stock has a 50-day moving average of $4.87 and a 200-day moving average of $3.80. The company has a market cap of $331.1 million and a price-to-earnings ratio of 11.74.

Warren Resources (NASDAQ:WRES) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.09 by $0.02. The company had revenue of $34.20 million for the quarter, compared to the consensus estimate of $34.10 million. During the same quarter last year, the company posted $0.04 earnings per share. Warren Resources’s revenue was up 11.0% compared to the same quarter last year. On average, analysts predict that Warren Resources will post $0.37 earnings per share 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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