Magnum Hunter Resources Corp. Receives “Buy” Rating from RBC Capital (MHR)
Magnum Hunter Resources Corp. (NYSE:MHR)‘s stock had its “buy” rating reaffirmed by research analysts at RBC Capital in a report released on Wednesday, Stock Ratings Network reports. They currently have a $6.00 price objective on the stock. RBC Capital’s price objective points to a potential downside of 17.13% from the company’s current price.
Shares of Magnum Hunter Resources Corp. (NYSE:MHR) traded up 4.14% on Wednesday, hitting $7.54. 4,466,490 shares of the company’s stock traded hands. Magnum Hunter Resources Corp. has a 1-year low of $2.37 and a 1-year high of $7.55. The stock’s 50-day moving average is $5.86 and its 200-day moving average is $4.2. The company’s market cap is $1.280 billion.
Magnum Hunter Resources Corp. (NYSE:MHR) last released its earnings data 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 $-0.54 earnings per share for the current fiscal year.
MHR has been the subject of a number of other recent research reports. Analysts at Deutsche Bank raised their price target on shares of Magnum Hunter Resources Corp. from $4.50 to $7.00 in a research note to investors on Wednesday. They now have a “hold” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Magnum Hunter Resources Corp. in a research note to investors on Wednesday. They now have a $8.40 price target on the stock, up previously from $5.40. Finally, analysts at SunTrust raised their price target on shares of Magnum Hunter Resources Corp. from $7.00 to $8.50 in a research note to investors on Monday, September 30th. They now have a “buy” rating on the stock. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $6.33.
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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