Global Hunter Securities Upgrades GeoResources (GEOI) to Buy; Paying for Consistency
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Price: $33.20 --0%
Rating Summary:
5 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 4 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Global Hunter Securities upgraded GeoResources (NASDAQ: GEOI) from Accumulate to Buy, price target raised from $35 to $39.
Analyst, Philip McPherson, said, "GeoResources reported solid Q4 results with production driving the top- and bottom-line numbers above our estimates. GEOI continues to focus on its organic inventory of oily projects in the Bakken and Eagle Ford Shales. The company plans to add a third rig in both plays during the coming months, which should drive oil volumes to nearly 70% of total production. The recent acquisition of 170k acres targeting the Austin Chalk in east Texas is a complimentary bolt-on acquisition to the company's legacy Austin Chalk position. The area is slowly emerging as having potential liquids exposure, and GEOI could add inventory in the back half of 2013 as it works the area. The company raised its 2012 production guidance from 6.5-7.5 Mboepd to 7.3-8.3 Mboepd."
For an analyst ratings summary and ratings history on GeoResources click here. For more ratings news on GeoResources click here.
Shares of GeoResources closed at $32.20 yesterday.
Analyst, Philip McPherson, said, "GeoResources reported solid Q4 results with production driving the top- and bottom-line numbers above our estimates. GEOI continues to focus on its organic inventory of oily projects in the Bakken and Eagle Ford Shales. The company plans to add a third rig in both plays during the coming months, which should drive oil volumes to nearly 70% of total production. The recent acquisition of 170k acres targeting the Austin Chalk in east Texas is a complimentary bolt-on acquisition to the company's legacy Austin Chalk position. The area is slowly emerging as having potential liquids exposure, and GEOI could add inventory in the back half of 2013 as it works the area. The company raised its 2012 production guidance from 6.5-7.5 Mboepd to 7.3-8.3 Mboepd."
For an analyst ratings summary and ratings history on GeoResources click here. For more ratings news on GeoResources click here.
Shares of GeoResources closed at $32.20 yesterday.
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