SunTrust Increases Magnum Hunter Resources Corp. Price Target to $8.50 (MHR)
Stock analysts at SunTrust raised their price target on shares of Magnum Hunter Resources Corp. (NYSE:MHR) from $7.00 to $8.50 in a report issued on Monday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the stock. SunTrust’s price target would indicate a potential upside of 37.76% from the company’s current price.
A number of other analysts have also recently weighed in on MHR. Analysts at Topeka Capital Markets reiterated a “buy” rating on shares of Magnum Hunter Resources Corp. (NYSE:MHR) in a research note to investors on Monday. They now have a $8.50 price target on the stock, up previously from $6.50. Separately, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Magnum Hunter Resources Corp. (NYSE:MHR) in a research note to investors on Tuesday, September 24th. They set a “neutral” rating on the stock. Finally, analysts at Canaccord Genuity raised their price target on shares of Magnum Hunter Resources Corp. (NYSE:MHR) from $5.50 to $6.50 in a research note to investors on Wednesday, September 11th. They now have a “buy” rating on the stock. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Magnum Hunter Resources Corp. currently has an average rating of “Hold” and an average target price of $5.77.
Magnum Hunter Resources Corp. (NYSE:MHR) traded down 2.53% during mid-day trading on Monday, hitting $6.17. 5,599,788 shares of the company’s stock traded hands. Magnum Hunter Resources Corp. has a 52-week low of $2.37 and a 52-week high of $6.39. The stock has a 50-day moving average of $4.9 and a 200-day moving average of $3.96. The company’s market cap is $1.047 billion.
Magnum Hunter Resources Corp. (NYSE:MHR) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.20) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.12) by $0.08. The company had revenue of $84.04 million for the quarter, compared to the consensus estimate of $92.16 million. During the same quarter last year, the company posted ($0.04) earnings per share. Magnum Hunter Resources Corp.’s revenue was up 97.6% compared to the same quarter last year. Analysts expect that Magnum Hunter Resources Corp. will post $-0.53 EPS for the current fiscal year.
In other Magnum Hunter Resources Corp. news, SVP Brian Burgher sold 144,000 shares of the company’s stock on the open market in a transaction dated Monday, September 16th. The shares were sold at an average price of $5.45, for a total transaction of $784,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Magnum Hunter Resources Corporation (NYSE:MHR) is an independent oil and gas company engaged in the exploration for and the exploitation, acquisition, development and production of crude oil, natural gas and natural gas liquids, primarily in the states of West Virginia, Ohio, Texas, Kentucky and North Dakota and in Saskatchewan, Canada.
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