Insider Selling: Thomas F. Darden Sells 15,000 Shares of Quicksilver Resources Stock (KWK)
Quicksilver Resources (NYSE:KWK) Director Thomas F. Darden unloaded 15,000 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $3.24, for a total value of $48,600.00. Following the completion of the transaction, the director now directly owns 5,560,704 shares in the company, valued at approximately $18,016,681. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Cowen and Company raised their price target on shares of Quicksilver Resources from $1.50 to $3.00 in a research note on Friday, March 28th. Analysts at Zacks reiterated a “neutral” rating on shares of Quicksilver Resources in a research note on Thursday, March 6th. They now have a $3.25 price target on the stock.
Quicksilver Resources (NYSE:KWK) traded down 2.70% during mid-day trading on Monday, hitting $3.24. 3,326,999 shares of the company’s stock traded hands. Quicksilver Resources has a 1-year low of $1.44 and a 1-year high of $3.67. The stock has a 50-day moving average of $2.83 and a 200-day moving average of $2.88. The company has a market cap of $556.1 million and a price-to-earnings ratio of 3.63. Quicksilver Resources also was the recipient of a large drop in short interest in April. As of April 15th, there was short interest totalling 46,211,560 shares, a drop of 6.8% from the March 31st total of 49,598,522 shares. Currently, 37.5% of the company’s shares are short sold. Based on an average daily volume of 2,695,339 shares, the days-to-cover ratio is currently 17.1 days.
Quicksilver Resources (NYSE:KWK) last announced its earnings results on Friday, March 14th. The company reported ($0.03) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.03). The company had revenue of $112.00 million for the quarter, compared to the consensus estimate of $116.87 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The company’s quarterly revenue was down 49.0% on a year-over-year basis. On average, analysts predict that Quicksilver Resources will post $-0.25 earnings per share for the current fiscal year.
Quicksilver Resources Inc (NYSE:KWK) is an independent oil and gas company engaged primarily in the acquisition, exploration, development and production of onshore oil and gas in North America.
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