Zacks Investment Research upgraded shares of Duma Energy Corp. (DUMA) from N/A to OUTPERFORM on September 18, 2012, with a target price of $5.00.
Duma Energy Corp. is an oil and gas company with ownership of producing properties in Texas and Illinois. The company has a significant ownership of leases under exploration in Namibia, Africa that exceed 5 million aces with possibly a billion bbl of oil from just one structure. The company is currently profitable and oil and gas production is expected to increase throughout 2013 and 2014. We rank the stock as "outperform" with a price target of $5.00.
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