Warren Resources Reaches New 12-Month High at $5.64 (WRES)
Warren Resources (NASDAQ:WRES) shares reached a new 52-week high on Wednesday , StockRatingsNetwork.com reports. The stock traded as high as $5.64 and last traded at $5.62, with a volume of 896,227 shares traded. The stock had previously closed at $5.17.
A number of research firms have recently commented on WRES. Analysts at Brean Capital initiated coverage on shares of Warren Resources in a research note on Thursday, May 8th. They set a “buy” rating and a $6.00 price target on the stock. Analysts at TheStreet upgraded shares of Warren Resources from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th.
The stock has a 50-day moving average of $4.6 and a 200-day moving average of $4.18. The company has a market cap of $416.8 million and a P/E ratio of 10.55.
Warren Resources (NASDAQ:WRES) last issued its quarterly earnings data 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. Analysts expect that Warren Resources will post $0.46 EPS 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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