Clayton Williams Energy Stock Rating Reaffirmed by Wunderlich (CWEI)
Clayton Williams Energy (NASDAQ:CWEI)‘s stock had its “buy” rating reaffirmed by Wunderlich in a research note issued on Thursday. They currently have a $159.00 price objective on the stock, down from their previous price objective of $162.00. Wunderlich’s price objective points to a potential upside of 21.84% from the company’s current price.
The analysts wrote, “Clayton Williams Energy (CWEI) continues to execute. We met up with COO Mel Riggs and CFO Michael Pollard yesterday along with Director of Investors Relations Patti Hollums. CWEI has three rigs each in the Eagle Ford Play in South Texas and the Wolfcamp Plays in the Delaware Basin in Reeves County, Texas. “CWEI intends to keep its rig counts at this level until both plays are better understood; as such, the company should be able to keep spending within cash flow and still has plenty of liquidity. While the stock has run, we continue to feel bullish about CWEI’s resource plays and we believe that the inventory of drillable locations could be larger than the company’s current estimate. We reiterate our Buy rating on this Permian first mover and are raising our NAV and price target to $162.”
CWEI has been the subject of a number of other recent research reports. Analysts at SunTrust cut their price target on shares of Clayton Williams Energy from $183.00 to $173.00 in a research note on Tuesday, May 13th. Separately, analysts at TheStreet upgraded shares of Clayton Williams Energy from a “hold” rating to a “buy” rating in a research note on Monday, April 28th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $125.75.
Shares of Clayton Williams Energy (NASDAQ:CWEI) traded up 0.93% on Thursday, hitting $131.72. The stock had a trading volume of 17,667 shares. Clayton Williams Energy has a 52 week low of $38.57 and a 52 week high of $146.93. The stock’s 50-day moving average is $127. and its 200-day moving average is $103.3. The company has a market cap of $1.602 billion and a price-to-earnings ratio of 57.24.
Clayton Williams Energy (NASDAQ:CWEI) last released its earnings data on Thursday, April 24th. The company reported $0.94 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.79 by $0.15. The company had revenue of $124.60 million for the quarter, compared to the consensus estimate of $108.56 million. During the same quarter in the prior year, the company posted ($3.39) earnings per share. The company’s quarterly revenue was up 12.4% on a year-over-year basis. On average, analysts predict that Clayton Williams Energy will post $5.26 earnings per share for the current fiscal year.
Clayton Williams Energy, Inc (NASDAQ:CWEI) is an independent oil and gas company engaged in the exploration for and production of oil and natural gas primarily in Texas, Louisiana and New Mexico.
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