RBC Capital Increases Magnum Hunter Resources Corp. Price Target to $6.00 (MHR)
Equities research analysts at RBC Capital increased their target price on shares of Magnum Hunter Resources Corp. (NYSE:MHR) from $4.50 to $6.00 in a research note issued to investors on Wednesday, Analyst Ratings Network reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s price target suggests a potential downside of 8.26% from the company’s current price.
MHR has been the subject of a number of other recent research reports. Analysts at SunTrust raised their price target on shares of Magnum Hunter Resources Corp. (NYSE:MHR) from $7.00 to $8.50 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $5.91.
Magnum Hunter Resources Corp. (NYSE:MHR) traded up 1.55% on Wednesday, hitting $6.54. 6,207,875 shares of the company’s stock traded hands. Magnum Hunter Resources Corp. has a one year low of $2.37 and a one year high of $6.47. The stock has a 50-day moving average of $5.08 and a 200-day moving average of $3.99. The company’s market cap is $1.110 billion.
Magnum Hunter Resources Corp. (NYSE:MHR) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was up 97.6% on a year-over-year basis. On average, analysts predict that Magnum Hunter Resources Corp. will post $-0.53 earnings per share for the current fiscal year.
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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