Magellan Petroleum Corp. (MPET) Receives Average Rating of “Hold” from Analysts
Magellan Petroleum Corp. (NASDAQ:MPET) has earned a consensus broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.
Zacks has also given Magellan Petroleum Corp. an industry rank of 256 out of 265 based on the ratings given to related companies.
Separately, S&P Equity Research cut their target price on shares of Magellan Petroleum Corp. from $4.00 to $3.40 in a report on Monday, August 8th.
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Magellan Petroleum Corp. (NASDAQ:MPET) traded down 1.51% during midday trading on Tuesday, reaching $5.22. The company had a trading volume of 52,339 shares. The company’s 50 day moving average is $5.59 and its 200-day moving average is $2.77. Magellan Petroleum Corp. has a 52-week low of $0.20 and a 52-week high of $7.17. The company’s market capitalization is $30.69 million.
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.
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