Emerald Oil Short Interest Up 2.8% in May (EOX)
Shares of Emerald Oil (NYSE:EOX) were the target of a significant increase in short interest in May. As of May 30th, there was short interest totalling 15,753,745 shares, an increase of 2.8% from the May 15th total of 15,321,255 shares, StockRatingsNetwork reports. Currently, 29.2% of the company’s shares are short sold. Based on an average daily volume of 1,154,751 shares, the days-to-cover ratio is currently 13.6 days.
In other Emerald Oil news, major shareholder & Guill Energy L.P. Edelman acquired 100,000 shares of Emerald Oil stock in a transaction dated Tuesday, June 3rd. The stock was purchased at an average cost of $6.25 per share, for a total transaction of $625,000.00. The acquisition was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
A number of research firms have recently commented on EOX. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Emerald Oil in a research note on Wednesday, May 7th. They now have a $12.00 price target on the stock, up previously from $11.00. Separately, 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. Finally, 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 investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Emerald Oil currently has a consensus rating of “Buy” and an average price target of $10.36.
Shares of Emerald Oil (NYSE:EOX) traded down 1.22% on Tuesday, hitting $6.50. The stock had a trading volume of 687,572 shares. Emerald Oil has a one year low of $6.00 and a one year high of $9.20. The stock has a 50-day moving average of $6.66 and a 200-day moving average of $7.10. The company’s market cap is $430.9 million.
Emerald Oil (NYSE:EOX) last released its earnings data on Monday, May 5th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters 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. On average, analysts predict that Emerald Oil will post $0.16 earnings per share for the current fiscal year.
Emerald Oil, Inc (NYSE:EOX) is an independent oil and natural gas exploration and production company.
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