Sidoti started coverage on shares of Double Eagle Petroleum (NASDAQ: DBLE) in a research note issued on Thursday. They set a “neutral” rating on the stock.
Separately, analysts at Zacks Investment Research upgraded shares of Double Eagle Petroleum from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, January 10th. Also, analysts at C.K. Cooper reiterated a “buy” rating on shares of Double Eagle Petroleum in a research note to investors on Monday, November 7th. They now have a $11.50 price target on the stock.
Double Eagle Petroleum Co. (Double Eagle) is an independent energy company engaged in the exploration, development, production and sale of natural gas and crude oil, primarily in Rocky Mountain Basins of the western United States. Its operations are focused on the two development properties located in southwestern Wyoming. Double Eagle has coal bed methane reserves and production in the Atlantic Rim area of the Eastern Washakie Basin and tight sands gas reserves and production in the Pinedale Anticline. As of December 31, 2009, the Company does not have any active exploration projects. In August 2009, Double Eagle completed the acquisition of Petrosearch Energy Corporation.
Shares of Double Eagle Petroleum traded up 0.76% during mid-day trading on Thursday, hitting $6.6101. Double Eagle Petroleum has a 52 week low of $5.51 and a 52 week high of $12.00. The stock’s 50-day moving average is $6.85 and its 200-day moving average is $7.94. The company’s market cap is $74.1 million.
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