Warren Resources Hits New 1-Year High at $6.70 (WRES)
Warren Resources (NASDAQ:WRES) hit a new 52-week high during trading on Monday , AnalystRatingsNetwork.com reports. The company traded as high as $6.70 and last traded at $6.24, with a volume of 1,027,484 shares trading hands. The stock had previously closed at $6.14.
A number of analysts have recently weighed in on WRES shares. 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’s 50-day moving average is $4.94 and its 200-day moving average is $4.30. The company has a market cap of $463.2 million and a P/E ratio of 12.53.
Warren Resources (NASDAQ:WRES) last posted its quarterly earnings results 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. On average, analysts predict that Warren Resources will post $0.46 earnings per share 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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