Insider Selling: Quicksilver Resources Director Unloads 10,000 Shares of Stock (KWK)
Quicksilver Resources (NYSE:KWK) Director Thomas F. Darden sold 10,000 shares of the stock on the open market in a transaction dated Monday, June 2nd. The shares were sold at an average price of $2.36, for a total value of $23,600.00. Following the transaction, the director now directly owns 5,550,704 shares in the company, valued at approximately $13,099,661. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on KWK shares. Analysts at Zacks reiterated a “neutral” rating on shares of Quicksilver Resources in a research note on Wednesday, May 7th. They now have a $3.00 price target 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.
Shares of Quicksilver Resources (NYSE:KWK) traded up 0.40% during mid-day trading on Thursday, hitting $2.50. 807,561 shares of the company’s stock traded hands. Quicksilver Resources has a 52 week low of $1.44 and a 52 week high of $3.67. The stock’s 50-day moving average is $2.76 and its 200-day moving average is $2.91. The company has a market cap of $433.9 million and a price-to-earnings ratio of 2.71. Quicksilver Resources also was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 38,421,265 shares, a drop of 11.3% from the April 30th total of 43,338,312 shares. Currently, 30.7% of the shares of the company are short sold. Based on an average daily trading volume, of 3,782,658 shares, the short-interest ratio is currently 10.2 days.
Quicksilver Resources (NYSE:KWK) last announced its earnings results on Tuesday, May 6th. The company reported ($0.08) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.06) by $0.02. The company had revenue of $91.79 million for the quarter, compared to the consensus estimate of $105.26 million. During the same quarter last year, the company posted ($0.04) earnings per share. Quicksilver Resources’s revenue was up NaN% compared to the same quarter last year. On average, analysts predict that Quicksilver Resources will post $-0.30 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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