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Equities researchers at B. Riley assumed coverage on shares of Magellan Petroleum Corp (NASDAQ:MPET) in a research report issued on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.

Separately, analysts at Roth Capital initiated coverage on shares of Magellan Petroleum Corp in a research note on Thursday. They set a “buy” rating and a $4.50 price target on the stock.

Magellan Petroleum Corp (NASDAQ:MPET) opened at 2.05 on Thursday. Magellan Petroleum Corp has a 52-week low of $0.98 and a 52-week high of $2.52. The stock’s 50-day moving average is $1.84 and its 200-day moving average is $1.32. The company’s market cap is $93.0 million.

Magellan Petroleum Corporation (NASDAQ:MPET) is engaged in the sale of oil and gas and the exploration for and development of oil and gas reserves.

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