Zacks Short Term Rating on Warren Resources, Inc

Zacks Short Term Rating on Warren Resources, Inc.
Dec 30, 2015

As many as 2 brokerage firms have rated Warren Resources, Inc. (NASDAQ:WRES) at 3. Research Analysts at Zacks have ranked the company at 4, suggesting the traders with a rating of sell for the short term. The stock garnered a place in the hold list of 2 stock Analysts.

Warren Resources, Inc. (NASDAQ:WRES): The stock price is expected to reach $ 0.88 in the short term. The number of analysts agreeing with this consensus is 2. The higher estimate for the short term price target is at $1 while the lower estimate is at $1. The standard deviation of the price stands at $0.46.

Warren Resources, Inc. (NASDAQ:WRES) rose 37.9% or 0.0631 points on Tuesday and made its way into the gainers of the day. After trading began at $0.17 the stock was seen hitting $0.2399 as a peak level and $0.167 as the lowest level. The stock ended up at $0.2296. The daily volume was measured at 6,003,554 shares. The 52-week high of the share price is $1.835 and the 52-week low is $0.135. The company has a market cap of $20 million.

Shares of Warren Resources, Inc. appreciated by 52.05% during the last five trading days but lost 14.96% on a 4-week basis. Warren Resources, Inc. has dropped 50.09% during the last 3-month period . Year-to-Date the stock performance stands at -85.74%.

On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, Price Espy Paul, director of Warren Resources Inc, executed a transaction worth $15,000 on December 16, 2015. A total of 100,000 shares were purchased at an average price of $0.15. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

Warren Resources, Inc. (Warren) is an independent energy company engaged in the exploration, development and production of domestic onshore crude oil and gas reserves. The Company focuses primarily on the exploration and development of its waterflood oil recovery properties in the Wilmington field within the Los Angeles Basin of California, and its coalbed methane (CBM) natural gas properties located in the Rocky Mountain region. The Companys properties are primarily located in California, Wyoming, New Mexico, North Dakota and Texas. As of December 31, 2012, it owned natural gas and oil leasehold interests in approximately 124,587 gross (94,140 net) acres, approximately 85% of which are undeveloped. On October 9, 2012 (effective August 1, 2012), the Company acquired certain additional natural gas and midstream assets from subsidiaries of Anadarko Petroleum Corporation (Anadarko) in the Atlantic Rim Project in the Washakie Basin.

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