Share on StockTwits

New Western Energy Corp (NASDAQ:NWTR)‘s stock had its “outperform” rating restated by Zacks in a report released on Wednesday. They currently have a $2.00 price objective on the stock.

Zacks’ analyst wrote, “New Western Energy Corp. is involved in the acquisition, exploration, development and production of oil and gas from properties in the United States. The company owns the rights to drill on a significant number of properties in Oklahoma and Kansas. Potential reserves exceed 30 million barrels of oil. As of May, 2014 acreage under lease was over 6,500 on which there were 177 wells. Our rating continues as Outperform with a price target of $2.00.”

Shares of New Western Energy Corp (NASDAQ:NWTR) traded down 8.18% during mid-day trading on Wednesday, hitting $0.1561. 1,490 shares of the company’s stock traded hands. New Western Energy Corp has a 52 week low of $0.125 and a 52 week high of $1.01. The stock has a 50-day moving average of $0.17 and a 200-day moving average of $0.20. The company’s market cap is $11.4 million.

New Western Energy Corporation is an oil and gas and mineral exploration and production company with current projects located in Oklahoma, Kansas and Texas.

To view Zacks’ full report, visit Zacks’ official website.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.