Zacks: Magellan Petroleum Corp. (NASDAQ:MPET) Receives Average Recommendation of “Hold” from Brokerages

Magellan Petroleum Corp. (NASDAQ:MPET) has earned an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment 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 its competitors.

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

Magellan Petroleum Corp. (NASDAQ:MPET) opened at 5.49 on Wednesday. The stock’s 50 day moving average price is $5.53 and its 200-day moving average price is $2.38. Magellan Petroleum Corp. has a 12 month low of $0.20 and a 12 month high of $7.17. The firm’s market capitalization is $32.28 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.

5 Day Chart for NASDAQ:MPET

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