Magnum Hunter Resources Corp. PT Raised to $8.00 (MHR)
Investment analysts at Robert W. Baird increased their price target on shares of Magnum Hunter Resources Corp. (NYSE:MHR) from $6.00 to $8.00 in a note issued to investors on Friday, Analyst Ratings News reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 2.30% from the company’s current price.
Shares of Magnum Hunter Resources Corp. (NYSE:MHR) traded up 3.99% during mid-day trading on Friday, hitting $7.82. 5,734,721 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 $7.68. The stock’s 50-day moving average is $6.02 and its 200-day moving average is $4.25. The company’s market cap is $1.327 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 (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 prior year, the company posted ($0.04) earnings per share. The company’s quarterly revenue 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.
A number of other firms have also recently commented on MHR. Analysts at RBC Capital reiterated a “buy” rating on shares of Magnum Hunter Resources Corp. in a research note to investors on Wednesday. They now have a $6.00 price target on the stock. Separately, 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. Finally, 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. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Magnum Hunter Resources Corp. presently has a consensus rating of “Buy” and a consensus target price of $6.49.
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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