Magnum Hunter Resources Corp. Target of Unusually Large Options Trading (MHR)
Shares of Magnum Hunter Resources Corp. (NYSE:MHR) saw some unusual options trading on Friday. Stock traders acquired 27,201 call options on the stock, AnalystRatingsNetwork.com reports. This is an increase of approximately 895% compared to the typical daily volume of 2,734 call options.
Several analysts have recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Magnum Hunter Resources Corp. (NYSE:MHR) from $4.50 to $6.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $5.91.
Shares of Magnum Hunter Resources Corp. (NYSE:MHR) traded up 6.99% during mid-day trading on Friday, hitting $7.04. The stock had a trading volume of 11,999,207 shares. Magnum Hunter Resources Corp. has a 1-year low of $2.37 and a 1-year high of $6.79. The stock’s 50-day moving average is $5.22 and its 200-day moving average is $4.03. The company’s market cap is $1.195 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 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.
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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