- EF Hutton analyst Ben Piggott reiterated a Buy rating on U.S. Energy Corp USEG and increased the price target to $7 from $6.25 (100% upside).
- USEG produced 1341 boe/day in its most recently reported quarter (1Q22), presenting a potential 31% increase in net production.
- The analyst said the company’s CEO Smith is continuing to demonstrate solid capital allocation instincts, picking up assets below PV-10 with upside optionality.
- Piggott lists commodity prices, state and federal regulations, and potential environmental liabilities as risk factors for the company’s future.
- Price Action: USEG shares are trading lower by 1.13% at $3.49 on the last check Tuesday.
- Photo Via Company
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