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Investment analysts at GMP Securities initiated coverage on shares of Emerald Oil (NYSE:EOX) in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $12.00 price target on the stock. GMP Securities’ price objective points to a potential upside of 55.04% from the company’s current price.

A number of other firms have also recently commented on EOX. Analysts at Brean Capital initiated coverage on shares of Emerald Oil in a research note on Monday. They set a “buy” rating and a $10.00 price target on the stock. Separately, 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. Finally, 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. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $10.49.

Emerald Oil (NYSE:EOX) traded down 2.20% during mid-day trading on Tuesday, hitting $7.57. The stock had a trading volume of 174,418 shares. Emerald Oil has a 52 week low of $6.00 and a 52 week high of $9.20. The stock has a 50-day moving average of $6.65 and a 200-day moving average of $7.07. The company’s market cap is $501.8 million.

Emerald Oil (NYSE:EOX) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.04 earnings per share for the quarter, beating the analysts’ 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 $0.16 EPS 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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