New Western Energy Corp (NASDAQ:NWTR)‘s stock had its “outperform” rating reiterated by Zacks in a research note issued to investors on Wednesday, Analyst RN reports. They currently have a $2.00 price target on the stock.
Zacks‘ analyst wrote, “New Western Energy Corp. is involved in the acquisition, exploration, development and production of oil and gas from properties in the United States. The company owns the rights to drill on a significant number of properties in Texas, Oklahoma and Kansas. Potential reserves exceed 20 million barrels of oil. As of December 31, 2012 acreage under lease was over 6,000 on which there were 195 wells. Our rating continues as Outperform with a new price target of $2.00.”
Shares of New Western Energy Corp (NASDAQ:NWTR) traded down 11.80% during mid-day trading on Wednesday, hitting $0.2205. 31,620 shares of the company’s stock traded hands. New Western Energy Corp has a 52-week low of $0.115 and a 52-week high of $1.13. The stock’s 50-day moving average is $0.23 and its 200-day moving average is $0.19. The company’s market cap is $15.2 million.
New Western Energy Corporation is an oil and gas and mineral exploration and production company with current projects located in Oklahoma, Kansas and Texas.
To view Zacks’ full report, visit www.zacks.com
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