Magellan Petroleum Corp. (NASDAQ:MPET) was up 1.7% during mid-day trading on Tuesday . The stock traded as high as $5.61 and last traded at $5.51, with a volume of 129,452 shares trading hands. The stock had previously closed at $5.42.

Separately, S&P Equity Research decreased their target price on Magellan Petroleum Corp. from $4.00 to $3.40 in a research report on Monday, August 8th.

The stock’s 50 day moving average is $5.15 and its 200 day moving average is $2.15. The firm’s market capitalization is $32.69 million.

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About Magellan Petroleum Corp.

Magellan Petroleum Corporation is an oil and gas exploration and production company, which focuses on the development of carbon dioxide (CO2) enhanced oil recovery (CO2-EOR) projects in the Rocky Mountain region. The Company owns exploration acreage in the Weald Basin, and an exploration block, NT/P82, in the Bonaparte Basin, offshore Northern Territory in Australia.

5 Day Chart for NASDAQ:MPET

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