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C.K. Cooper maintained its Endeavour International
END Buy rating and increased its Endeavour price target from $16 to $17 in a research report published today.
In the report, C.K. Cooper states, "END announced that it plans to purchase 50,000 net operated, 100% working interest acres in the Marcellus Shale play from SM Energy
SM and minor interest holders for $110MM or $2,200/ACRE. The deal appears to be a positive development for END, enhancing the firm's land portfolio in a prospective gas development area at a fairly low cost."
Shares of Endeavour International closed today at $14.24, down 13.12% from Friday's market close.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsC.K. Cooper & CompanyEnergyOil & Gas Exploration & Production
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