MLV Maintains Buy on Double Eagle Petroleum

MLV is out with its report today on Double Eagle Petroleum (NASDAQ: DBLE), maintaining Buy.

In its report, MLV writes, "We believe DBLE is being lumped into a group of cash-strapped companies and being punished by a gas bear mentality, when in fact the company has a strong hedge position into 2013, a very conservative balance sheet and can comfortably drill with its cash flow and bank line for the next several years, in our view."

Shares of DBLE closed Friday at $6.95.