Warren Resources Rating Reiterated by Brean Capital (WRES)
Warren Resources (NASDAQ:WRES)‘s stock had its “buy” rating reiterated by research analysts at Brean Capital in a report released on Tuesday. They currently have a $9.00 price target on the stock, up from their previous price target of $8.00. Brean Capital’s price objective would indicate a potential upside of 44.93% from the stock’s previous close.
Shares of Warren Resources (NASDAQ:WRES) traded up 3.06% during mid-day trading on Tuesday, hitting $6.40. 420,527 shares of the company’s stock traded hands. Warren Resources has a 1-year low of $2.71 and a 1-year high of $6.87. The stock has a 50-day moving average of $6.11 and a 200-day moving average of $4.8. The company has a market cap of $471.3 million and a price-to-earnings ratio of 12.67.
Warren Resources (NASDAQ:WRES) last posted its quarterly earnings results on Monday, August 11th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. The company had revenue of $34.99 million for the quarter, compared to the consensus estimate of $34.87 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. Analysts expect that Warren Resources will post $0.39 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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