Maxim Group Initiates Coverage on Magnum Hunter Resources Corp (MHR)
Stock analysts at Maxim Group initiated coverage on shares of Magnum Hunter Resources Corp (NYSE:MHR) in a report issued on Thursday, TheFlyOnTheWall.com reports. The firm set a “hold” rating and a $9.00 price target on the stock. Maxim Group’s target price indicates a potential upside of 3.45% from the company’s current price.
Magnum Hunter Resources Corp (NYSE:MHR) opened at 8.59 on Thursday. Magnum Hunter Resources Corp has a 52 week low of $2.37 and a 52 week high of $9.27. The stock’s 50-day moving average is $8.19 and its 200-day moving average is $7.62. The company’s market cap is $1.477 billion.
Magnum Hunter Resources Corp (NYSE:MHR) last released its earnings data on Monday, February 24th. The company reported ($0.14) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.21) by $0.07. The company had revenue of $77.60 million for the quarter, compared to the consensus estimate of $84.72 million. On average, analysts predict that Magnum Hunter Resources Corp will post $-0.71 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on MHR. Analysts at Wunderlich reiterated a “buy” rating on shares of Magnum Hunter Resources Corp in a research note on Thursday, February 27th. They now have a $12.00 price target on the stock, up previously from $10.00. Separately, analysts at Robert W. Baird raised their price target on shares of Magnum Hunter Resources Corp from $8.00 to $9.00 in a research note on Wednesday, February 26th. Finally, analysts at Capital One Financial Corp. upgraded shares of Magnum Hunter Resources Corp from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, February 18th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $8.03.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.