Insider Selling: Magnum Hunter Resources Corp EVP Sells 35,000 Shares of Stock (MHR)
Magnum Hunter Resources Corp (NYSE:MHR) EVP Hershal C. Ferguson III sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $8.40, for a total transaction of $294,000.00. Following the transaction, the executive vice president now directly owns 236,590 shares in the company, valued at approximately $1,987,356. The sale was disclosed in a legal filing with the SEC, which is available at this link.
MHR has been the subject of a number of recent research reports. Analysts at Stifel upgraded shares of Magnum Hunter Resources Corp from a “hold” rating to a “buy” rating in a research note on Monday. They now have a $11.00 price target on the stock. Separately, analysts at Stifel Nicolaus upgraded shares of Magnum Hunter Resources Corp from a “hold” rating to a “buy” rating in a research note on Monday. They now have a $11.00 price target on the stock. Finally, analysts at Credit Suisse initiated coverage on shares of Magnum Hunter Resources Corp in a research note on Wednesday, May 28th. They set an “outperform” rating and a $9.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Magnum Hunter Resources Corp has a consensus rating of “Buy” and an average price target of $8.66.
Magnum Hunter Resources Corp (NYSE:MHR) traded up 2.55% during mid-day trading on Thursday, hitting $8.45. The stock had a trading volume of 4,523,503 shares. Magnum Hunter Resources Corp has a 52-week low of $3.31 and a 52-week high of $9.27. The stock’s 50-day moving average is $7.85 and its 200-day moving average is $7.79. The company’s market cap is $1.491 billion.
Magnum Hunter Resources Corp (NYSE:MHR) last posted its quarterly earnings results on Friday, May 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.01. The company had revenue of $70.20 million for the quarter, compared to the consensus estimate of $96.43 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was up 98.2% on a year-over-year basis. Analysts expect that Magnum Hunter Resources Corp will post $-0.65 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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