Dallas, Texas 09/04/2013 (Financialstrend) – The equity research analysts at SunTrust had increased the price target for the stock of Miller Energy Resources Inc (NYSE:MILL) from the earlier level of $4.50 per share to $6.50 per share in a recent research report issued to the investors. The rating is presently at neutral and this price target is at 5.25% potential downside from the current closing price of the stock. It is worth noting that this stock had been the subject of research for many other research analysts in The Wall Street. Casimir Capital had increased the price target for the stock from $7.00 to $9.00 per share and had accorded a buy rating to the stock. Analysts at The Street had downgraded the stock from hold rating to sell rating in a research report issued on Friday.
Further, the analysts at Zacks had also downgraded the stock from the neutral rating to the underperform rating and had fixed up a price target of $3.90 per share. Two equity analysts had given sell rating to the stock, two analysts had given hold rating and three investment analysts had accorded buy rating to the stock of Miller Energy which presently has a consensus price target of $5.85 per share.
Shares of Miller Energy Resources Inc (NYSE:MILL) gained on Tuesday to close at $6.86 per share, an increase of 9.58% over the previous close. The stock prices for the day traded in the range of $6.30 to $6.90 per share. For the past 52 weeks, the stock had presented low price at $3.34 and high price at $6.90 per share. The stock managed to pull in around 1.70 million trades on Tuesday, while the average level for the past 30 days of trading is at 445,174.00 shares per day. There are presently 43.41 million outstanding shares for the company and the institutional ownership is at 24%.